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Policy document - 35th Board

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  • POLICY DOCUMENT

    XXXVth STAR BOARDJANUARY 2013

  • - Henry Ford

    coming togetheris a beginning

    keeping togetheris progressworking togetheris success

  • 3Table of contents

    Our Strategy Map

    The Policy

    Vision & Future

    Financial: Value Drivers

    Active Members: Value Drivers

    Activities: Value Drivers

    Members: Value Drivers

    4

    6

    8

    12

    14

    18

    22

  • STRATEGYMAP

    OUR

  • 5Preface

    This policy document is the outcome of a week, which started together with two PwC consultants at their Rotterdam headquarters and continued in a hotel in Vlissingen. Along the waterside, the XXXVth STAR Board (hereinafter named we) became inspired and created a common goal: to continue building where the past STAR Boards have layed the foundation. Together with PwC we built our own Strategy Map:

    On top you can find the statement To enrich the life of RSM students which is STAR its mission and reason for existence. Our mission is supported by four different pillars: Supporting our Mem-bers in Their Choice of Career, Fun, Supporting our Members in Their Studies, and Contribute to Society. Moreover, these four different pillars are supported by one common pillar namely: De-velopment of our Active Members.

    To fulfill the needs of these pillars we divided our processes in four layers: Financial, Active Mem-bers, Activities, and Members. Each layer has a significant amount of blocks within called Value Drivers. An in depth description of each value driver can be found in this document. Every Value Driver in this document has been tested on the pillar Greening STAR.

    Hereby, we provide you with a small description of each layer which includes several changes for the upcoming year. Since the different layers in our strategy follow a logical path, we will guide you through the metaphorical stairs in this house starting at the ground floor which will be the Financial layer followed by the Active Members, Activities, and Members.

    Figure 1.1 Strategy Map

  • POLICYTHE

  • 7The financial part of the organization is seen as the basis for STAR. Through acquisition we gain income to organize all our projects and events. A strict budget control is necessary to minimize STARs financial risks.

    Trainings will become an important layer in the future for STAR, which will be provided through financial management. With setting up a skills plan for each active member, STAR helps them to reach up to their personal goals to develop themselves. Moreover, we find it important that this plan becomes an incentive for students to become active at STAR.

    By developing our members and re-establishing our portfolio we will optimize our projects. This year we are going to renew our recruitment system to make it easier for students to apply for one of our committees. Through knowledge sharing and cohesion between our Bachelor committees and Master Study Clubs we hope to inspire a better STAR feeling between our members. Ad-ditionally, alumni are an important group for STAR. These members have given everything for a varying period of time to enrich themselves and thereby enriching STAR. This is why we want to establish a good collaboration between our current members and our alumni.

    As projects are optimized and our members are supported in their development we strive to fulfill the demand of all our members. A better fit between what we offer to our members and the de-mands from our members is important and research will help us to get an overview of this demand. All projects can be seen as the branches of each tree, the pillars. Some branches are Value Driv-ers in our Strategy Map, because they need more attention than others, this can alter according to the outcomes of conducted research. We personally identified the following projects: Cultural Activities, Repositioning our Parties, and Academic Activities that need more attention. A major change in our strategy compared to the last few years can be found in our academic pillar. As a Study Association we have been adding academic value through STAR its Book Sale. In the upcom-ing year we are going to add Exam Trainings, Language Courses, and Summaries to increase the academic focus.

    Additionally, a new pillar is added: Contribute to Society. Besides Reach Out and iCare we will try to contribute to one specific charity with multiple projects. Moreover, as you can see in figure 1.1 a layer titled Greening STAR is positioned next to the upper three layers. Through focusing on these two aspects (i.e. greening STAR and contribute to society) we hope to contribute to a bet-ter society.

    Financial

    Active Members

    Activities

    Members

  • FUTURE&

    VISION

  • 9Below you can find three different stories all focusing on a different timeframe, namely one year, three years, and five years, where the implementation of our policy is described.

    A few weeks ago, Lily applied as a first year BA student through a clear and well-working recruit-ment system for the BA Introduction Days. Now, after she heard she was selected for the commit-tee, she is exited for her first meeting she will have with her committee. She already checked her white book which was made by the preceding committee. At this moment she knows the generic part and this gives her the confidence to make a start. Yesterday, she had a meeting with the Human Resource coordinator of the Board about a skills plan. Now she is certain about what she wants to learn and how she will acquire this knowledge. The fun she will get out of working in a committee and working on the event, the trainings which are already planned, and the skills plan which was made personally for her were incentives for Lily to become active at STAR. Meanwhile, the trimester is coming to an end and in three weeks she has exams. She already or-dered her books and pre-ordered summaries for her courses through STAR. She is still doubting if she will attend one of the exam trainings offered through STAR. Lily is sure that she wants to go on exchange in her third year. This is why she already subscribed for one of the language courses offered by STAR, since a significant discount is offered in comparison to other parties.

    Barney is a second year IBA student. He is part of the Reach Out committee. The committee is working on some ideas to support the charity STAR is contributing to. Like last year, the same char-ity is chosen and feedback is given on the events of last year. Barney is also involved in Greening STAR. STAR has become greener throughout the years (e.g. print outs are printed double-sided, posters and flyers are limitedly distributed, and several events are organized to make STAR mem-bers more aware of their environment). Through working with the Rotterdam School of Manage-ment and the Erasmus University, Peter tries to work towards a greener and sustainable university. Tomorrow Barney has a meeting with the Internship Coordinator of STAR, she can help Peter find-ing the right internship that meets his demand.

    Implementation of our strategy

    STAR in 1 year

    STAR in 3 years

    Robin is a second year IBA student and in two weeks the big event she has been working on together with her committee, the Case Competitions, will take place. Throughout the years this event has grown to its full potential and that is also why this committee became a fulltime project. The best universities from all over the world send their best team to solve cases for multinationals. Tonight she has an alumni event. Through the alumni network of STAR she found the main spon-sor of the event. She is looking forward to meet many more ambitious alumni, active in various industries, and still very connected with STAR. In a few moths she will have one resit. In the evening she prepares her resit with her e-book, since the books industry shifted from hard copy books to e-books which STAR offers.

    STAR in 5 years

  • 35th

    STA

    R B

    OA

    RD

  • 11

    Rik HendriksBabette van Dinten

    Jol van GilstRemco van der Matten

    Linda WeekersMirna Steur

    Claudia BaijensTom ReijnenIris Blokpoel

  • INANCIALFFFFFFINANCIALFINANCIAL

  • 13

    Last year we attained an acquisition revenue of almost 500,000 Euros. The acquisition revenue is used for financing all the projects or development trainings organized by or for our Active Members (i.e. training program).

    Current Situation

    More Acquisition

    The acquisition revenue is the basis for the balanced scorecard together with budget control. It provides the resources to ensure training programs and develop pro-jects. An increase in the acquisition revenue will cause larger and higher-standard projects and makes it possible for us to provide a wider range of trainings in our cur-riculum.

    Desired SituationThere are several ways to achieve the desired situation. Below, a list of options will ensure more acquisition: A broader range of products; A broader focus in the Benelux; Optimal price determination; Standard pricing policy; Alternative ways of acquisition (funding); Encourage cross-selling.

    How to achieve the Desired Situation

    KPI 1: 7,5% of the committees retrieves the pre-determined maximum budget.KPI 2: The average acquisition revenue of the last three years will increase with at least 7.5% by the com- mercial of the board.

    Measurement

    STAR controls its budget per cost driver and the overall budget meets STARs zero budget policy.

    Current Situation

    Budget Control

    Cost drivers are up to date and our zero budget policy is maintained. No profit or loss is made.

    Desired SituationEach cost driver is checked and up to date in a