Enabling strategies and implementation
The primary strategies will be supported by a platform of enabling strategies. The strategic plan will be guided by a detailed implementation plan.
The primary strategies will be supported by a platform of enabling strategies. These strategies will be focused on creating the capability, scale, organisational excellence, facilities, resources and reputation that are critical for success.
Enabling strategy 1
Double the community of world-class scholars choosing Victoria
To achieve its vision, Victoria University will need to increase significantly the number of indubitably world-class scholars it employs. This will require the creation of a vibrant, highly creative, supportive and inclusive environment that encourages the recruitment, development and retention of a diverse community of eminent academic staff and top students. This community will include highly talented postgraduate students and early-career academics who have the potential to be world leading in their disciplines. It will also comprise talented and valued general staff capable of developing and sustaining the high-performing organisational platform necessary for first-rate academic performance.
Enabling strategy 2
Attain the scale, quality and academic profile of leading public universities
To have the impact that defines a great global-civic university, Victoria University must attain the scale typical of other leading public universities. For this, the University must nearly double its current size to approximately 30,000 equivalent full-time students (EFTS). To achieve this goal, while maintaining quality, Victoria will target a sustained period of EFTS growth topping 1.5 percent per annum. The academic profile of the University will move towards a higher percentage of total EFTS as taught postgraduates (from 9 percent towards 18 percent), research postgraduates (from 6.5 percent towards 8 percent) and international students (from 12.5 percent towards 18 percent). Two essential prerequisites for such growth with quality are academic excellence and the maintenance of appropriate student to staff ratios.
Enabling strategy 3
Optimise the University’s organisation, processes, facilities and use of resources
Victoria University will implement a strategically aligned management structure that empowers leadership throughout the University and that is easily comprehensible to stakeholders. Business fundamentals will be executed well to create a platform for academic success. Key business processes at Victoria will be viewed as best-practice models and will operate on a ‘train, trust and audit’ model to reduce unnecessary compliance costs. Ongoing, carefully planned campus development and modernisation of equipment and information technology will enhance research, teaching, the student experience and administrative efficiency. Thorough planning will allow the University to attain scale with optimum functionality and cost-effectiveness. By encouraging more efficient use of time, Victoria will increase protected scholarly time and improve academic quality, creativity and productivity.
Enabling strategy 4
Increase and diversify sustainable revenue
Victoria University is cost-effective against benchmarks but is constrained by insufficient discretionary revenue. While cost control is very important, universities cannot save their way to excellence. Diversified revenue growth is vital for sustainable academic success. Through careful implementation of all of the above primary and enabling strategies, Victoria will achieve real revenue growth of a minimum of 3 percent per annum. A minimum of 3.5 percent of its revenue will be retained as surplus for reinvestment in the University’s research, teaching and public engagement.
Enabling strategy 5
Communicate the quality, values and distinctiveness that define Victoria
Victoria University’s success will be built on all of the strategies above and will also require effective communication of the quality, values and distinctiveness that define Victoria. To ensure Victoria has impact and influence commensurate with its achievements, the University will effectively convey the quality of its teaching, research and public engagement by way of academic conduits (such as publications, reports, public commentary, symposia, performances and exhibitions), marketing, media outlets, communication channels, relationship networks and ranking agencies.
The Strategic Plan will be reviewed annually during the 2015–2019 period and will be comprehensively revised for each ensuing five-year period. The enactment of the Plan will be guided by a detailed implementation plan. Progress towards strategic goals will be monitored by way of a comprehensive framework of proximate indicators. Through this iterative approach, a focus will be maintained on the Plan, ensuring that it continues to meet its purpose and remains appropriate to ongoing changes in the external environment.