UNIVERSITY PARK, Pa. – Finance and Business (F&B) has announced its new five-year strategic plan, which focuses on creating positive change for employees and the Penn State community. The new 2020-25 strategic plan will include four measurable goals with several key action items to guide implementation. The planning effort was led by the Core Planning Team, F&B Leadership Team and F&B community members.
“Our new strategic plan will provide F&B employees with a clear outline of our goals and what they can do to help us reach them,” said Sara Thorndike, senior vice president for Finance & Business/treasurer. “Together we will accomplish the goals and priorities we have set for F&B and make the Penn State community an even better place.”
Each goal will have an executive sponsor who will oversee the implementation process. F&B is currently forming working groups for each goal. If you are interested in volunteering for a working group, contact Susan Cromwell (sec137@psu.edu).
F&B 2020-25 strategic goals:
Creating organizational resiliency capability in F&B (Sponsor: Mark Miller, assistant vice president, Office of Physical Plant)
F&B will enhance its ability to anticipate, prepare, respond, and adapt to the changing physical-economic and social environments and disruptions in higher education. The main focus will be on setting long-term strategies to endure, innovate and thrive.
Reimagining the workforce/workplace (Sponsor: Dan Heist, director, Office of Internal Audit)
F&B will continue to focus and develop a workforce that can adapt to changing environments by investing in expanding employee skillsets, competencies, opportunities, experiences and support. The investment will provide employees with the ability to excel in their roles and careers in Finance and Business and/or the University. By reimaging how employees work (e.g., considerations of remote working and other flexible arrangements) and promoting "change readiness," F&B will better attract and retain a first-class workforce and provide for enhanced business continuity.
Advancing diversity, equity, and inclusion (Sponsor: Emil L. Cunningham, director, Office of Diversity and Inclusion)
F&B will actively support and engage in efforts to help employees develop and maintain a sense of belonging by identifying and deconstructing systemic and structural barriers within F&B units that inhibit the promotion of equity, diversity, and inclusion. F&B will enhance the development and implementation of meaningful educational/programmatic efforts that focus on diversity, equity, and inclusion that increase the recruitment, retention, and career advancement of employees from historically underrepresented and marginalized backgrounds.
Enhancing organizational excellence (Sponsor: David Snyder, assistant vice president, Auxiliary and Business Services)
F&B will increase the development of consistent organizational, operational practices, principles, processes, and measures that create effective stewards of University resources without disrupting F&B's excellent quality and service. F&B will continue to leverage data analytics and data-driven decision-making (KPI’s) to measure progress and align customer-centric services.
To stay updated and to download F&B’s 2020-25 Strategic Plan, visit the Finance and Business website.