Current Situation Zero Budget Policy - STAR controls its budget per cost driver and the overall STAR budget meets STAR´s zero budget policy. High (periodic) expenses - During the year, high (periodic) expenses are made on a regularly basis. These expenses concern the overhead expenses, as well as STAR general expenses. Unpredicted Plan - Committees are advised to make an unpredicted plan well before their event. This aims to ensure that the unpredicted costs are well spent.
How to achieve the Desired Situation
Zero Budget Policy - Costs drivers are up to date and our zero budget policy is maintained for the cost drivers and the overall STAR budget. No profit or loss is made. High (periodic) expenses - All high (periodic) expenses done during the year are considered well and qualified as the best possible option. Unpredicted Plan - Each committee has an unpredicted plan two weeks after the approval of the budget. The expenses in this unpredicted plan are in line with the goal of the project.
Zero Budget Policy - Each cost driver is monthly checked, after receiving a monthly update of every committee or MSC. High (periodic) expenses - High (periodic) expenses (N>6 per year, €>2.000 per year) are listed, revised and checked for their relevance twice a year. Possible alternatives are investigated and enhancements are set in place. This concerns also the overhead costs. Unpredicted Plan - The existing budget template will be expanded with a template for an unpredicted plan. Hereby committees are stimulated to think of their unpredicted plan in an earlier stage.
Zero Budget Policy KPI 1: In the desired situation max 5% of all cost drivers deviate from our zero budget policy with less or more than 5% of their turnover (5% profit or loss). KPI 2: In the desired situation the overall STAR budget deviate from our zero budget policy with less or more than 1% of their turnover (1% profit or loss). KPI 3: 90% of all committees or MSC’s send a monthly update of their budget High (periodic) expenses KPI 1: High (periodic) expenses (N>6 or €>2.000) are checked twice a year. KPI 2: High (periodic) expenses decrease overall with 2%. Unpredicted Plan KPI 1: 90% of the committees (51 committees) succeed in handing in the unpredicted plan two weeks after approval of the budget.
Acquisition Strategy Current Situation The current acquisition level is satisfactory regarding the financial need for our current project portfolio. However, the portfolio is mainly focused on Dutch students with a background in Finance or Business Information Management. In addition, STAR is highly dependent on a small amount of large partners and has only limited cooperation with SME’s. The pricing model of STAR products does not generate an incentive to buy more employer branding products. Furthermore the cooperation with the MBA Student Association is limited, yet very successful as proven during the International Career Event during the STAR Management Week.
How to achieve the Desired Situation
The collaboration with RSM and the MBA Students Association increases and events are organized together. The product list of STAR is diversified and products are sold as package deals.
The disired situation can be achieved by diversifying our portfolio by attracting new business, with a focus on international companies and SME’s. Collaborate more with the MBA Student Association. The new ERP should have a strong focus on connecting SME’s to RSM students.
KPI 1: International students evaluate the help of STAR in their search for a job with a NPS of 20% KPI 2: 10% of our acquisition follows from the cooperation with RSM Career Services, RSM professors or the MBAdepartment KPI 3: 25% of our partners would like to get in contact with international students KPI 4: 50% of our A-priority companies’ foreign offices are using STAR to get in touch with international students.
Published on Oct 21, 2015