Strategy Map
Financial
A financial statement is critical to all organizations because it serves as a vital tool to the investors as it helps in measuring the company’s success as well as forthcoming projections. The success of any project or organization often depends on the management of finances because it allows the timely delivery of quality services. And this contributes to the expansion and the increase of the institution’s competitive advantage as more consumers will demand the product. Following the enormous drop in state funds to NSU, the operations of the organization are impacted substantially. However, the funds from tuition and fees have been rising steadily, illustrating that NSU is widening its scope. Therefore, ensuring that students receive quality education helps the institution receive more students willing to pay the price for that quality education. While the purpose of any venture is not always about making another sale to a new customer because it is also essential to focus on the firm’s reputations and attaining its objectives. Considering that the school cannot be entirely run by student’s fees due to the rising costs and loss of state funds, offering competitive tuition across the region is one of the solutions that would increase the firm’s finances.
Customer
Profits, financial statements, and revenues are some of the critical elements that should be addressed by all firms due to the impacts realized from dollars and customer preferences as the consumer can shift quickly from one firm to the other because of it a free market. The goal of every learning institution is to produce students that are well-equipped and competent enough to tackle the fluctuation in the job market. Being also a business, its prominence is attained by word of mouth because one student will either recommend his friend, family, or colleagues to join the institution due to what he or she achieved. When students have gained enough skills and knowledge, they have got high chances of getting well-paying jobs, and the majority of them will tend to give back. Learning institutions will not exist if there were no individuals to educate, and so, students become the priority because a significant drop in results leads to the withdrawal of a lot of funds by the state and other money-lending firms.
Internal process
The world continues to experience innovation and advancement in almost every sector, so should the content that the students receive because lack of it renders them incompetent and unfit for the current job market. Each university has an absolute focus in a particular area of specialty because some focus on advancing their research levels and other teaching skills. However, NSU’s focus on both research and competent teaching is more advantageous not only to the institution but also to the students because they have an opportunity to acquire a complex skillset. Consequently, advancing the firm technology is one of the methods of increasing the institute’s competitive edge because of increased effectiveness in most operations in the firm, which translates to significant cost-cutting and time-saving.
Learning and Growing
Education keeps changing as new concepts, skills, and methods of operation keep entering the industry to improve the level and quality of training provided by institutions. The first people to experience these changes are the school’s instructors and professors, and they should, therefore, be up to date because they are the immediate influence on the student’s academic content and skills. One of the best ways ensuring that the professors are updated to the latest skills and knowledge is attending events, seminars, and many more learning opportunities. It is in these events that they get to learn more and enhance their expertise, which contributes to the development of imperative methods of handling academic concerns such as ways of testing and grading the students.