SCO’s New Strategic Plan:
Year One Overview
From helping the student who transforms into a top-performing clinician by using the skills learned in optometry school to providing a scholarship to the first student in her family to attain a professional degree, SCO’s five-year strategic plan is designed to achieve successful outcomes.
We embrace new strategies not to change a winning formula, but to ensure that SCO’s culture remains energized and moving in the right direction with the flexibility to adapt and overcome challenges which may emerge on our five-year journey.
Just as our students do, SCO will continue growing and learning. As a result, we believe our institution will become a home for bigger ideas and evolution.
We will have been successful in our pursuit, if at the end of our five-year plan, we can look back and see that we have reached our goal of supporting the academic and personal development of our students by having expanded SCO’s curricular content beyond traditional classroom and clinic offerings. We will have controlled annual tuition increases to an average of 4.5% or less. Our annual budget will be less dependent of quasi-endowment earnings to support SCO’s operations and we will have increased support by individuals and organization within the Memphis community.
As we enter year one of our five-year plan, some of the ways we will measure our progress include:
Moving from Student to Professional
- Develop SCO-specific IPE Core Competencies to be included in the curriculum.
- Create a pilot project involving a select group of faculty to develop a plan that will enhance research and scholarship at SCO.
- Keep our enrollment pipelines strong by increasing recruitment activity to attain a matriculation yield ratio of 1.8 to 1 (interviews to matriculants) for the entering Class of 2018.
Leveraging Fiscal Strength
- Increase clinic revenue to exceed 5% growth from 2016-17.
- Increase dedicated time to advancement activities by the President and the President’s Council.
Strengthening Relationships within Memphis
- Establish baselines of internal and external measures of SCO’s impact, brand perception, and reputation to be used in designing communication strategies to increase levels of engagement through more effective messaging.
- Measure an increase in newly established community partnerships or relationships resulting from the creation of a Community Advisory Committee and an increased focus on sharing SCO’s mission and story of community impact.
This overview of our measurable goals helps determine which aspects of our first-year strategic plan priorities most directly affect how successful we will be in achieving further initiatives which build upon these goals over the next five years of the process.
The factors that make up our institution’s unique differentiating identity include our mission, our purpose, our values, our culture, and our strategies. In addition to measuring these first-year outcomes, we intend to succeed by working so every employee knows the direction SCO is moving.
Organizations perform better when employees see how their daily work contributes to an institution’s overall success. When employees – and our students through their interactions with patients and others – see themselves as important to achieving our vision, SCO will have taken the first step in demonstrating our commitment to a successful implementation of our strategic plan.