COLLEGE OF BUSINESS STRATEGIC PLANNING "OUTSIDE THE BOX"

The paper describes the use of Fred R. David’s Strategic Planning Model as utilized by the D. Abbott Turner College of Business (DATCOB) to think “Outside the Box” and increase creative thinking. The DATCOB Strategic Planning Committee consisting of senior administrators and faculty first conducted an external audit to develop a finite list of opportunities that could benefit DATCOB and threats that should be avoided. The DATCOB’s Strategic Planning Committee next conducted an internal audit to develop a finite list of strengths and weaknesses. This was done by analyzing the DATCOB’s management, marketing, financial, and Management Information Systems functions along with all degree programs. In order to facilitate thinking “outside the box”, the DATCOB’s Strategic Planning Committee next developed David’s Threats-Opportunities-Weaknesses-Strengths (TOWS) Matrix to develop four types of strategies: SO (strengths-opportunities) Strategies, WO (weaknessesopportunities) Strategies, ST (strengths-threats) Strategies, and WT (weaknesses-strengths) Strategies. These strategies are listed and lead to the conclusion that Fred R. David’s TOWS matrix is an effective tool to facilitate thinking “outside the box” and creative strategic planning. Specific results of the planning process are given