Is it moving forward? At the pace you want? Are you getting where you need to go?
If you are like most institutions, the answer is, “no.”
Or at least, the answer is, “Not as fast and at the level of quality I need and want.” So, here’s the most important question: Why not?
Budgeting for Student Recruitment
The season is upon us and whether you are submitting your budget for approval or evaluating the budget requests others submit to you, we thought we might offer some insight for your process.
Business school professors love to apply the latest 4 square analysis that simplifies complex industry quandaries. The marketing texts (Kotler anyone?) are full of flowcharts and other grids to help you make sense of the 4 Ps (Product, Price, Placement and Promotion). And then there is the ever-elusive ROI analysis.
And the best line of all that sums up our most cynical fears: We will beat the excel spreadsheet into submission until it tells us what we want to hear.
Oh, those budgeting meetings and the spreadsheet assumptions. How often do we go back at the end of the year and take a look at what we projected and what we actually achieved before we approve the next project budget?
Not often enough and usually not with enough of a critical eye.
Sometimes, having outside expertise performing an analysis or assessment of your processes and capacity against your strategic goals can really help move an institution forward. Send us a quick email to learn more about what Intead can do to help.
Download Intead’s 3 Essential Budget Questions – a 1-pager that offers a simplified approach to considering any budget request/evaluation. With this framework for evaluating your plans and whether they merit additional investment, you’ll take those complex quandaries down to a basic starting point to help identify where the opportunities for growth really are. We think you’ll want to share this one widely.
Read on to access the downloadable chart...