FY23 Strategic Plan and Budget Report

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APPROVED 08/18/2022 TABLE OF CONTENTS A LETTER FROM THE CFO 03 SUSTAINING OUR COMPETITIVE ADVANTAGE 05 THE PLAN 06 NECESSARY TRANSFORMATIONS 09 OPERATING BUDGET 17 CAPITAL BUDGET & CCAP 25 EXHIBITS SITUATIONAL CONTEXT 30 HISTORICAL OVERVIEW 32 CONNECTING THE DOTS 33 WIG TRENDS 34 DETAILED OPERATING EXPENSE BUDGET 36 TSTC DEFINITIONS 41 ACKNOWLEDGMENTS 42
APPROVED 08/18/2022 SUSTAINING OUR COMPETITIVE ADVANTAGE TSTC operates in a competitive ecosystem that joins two marketplaces: the consumer market of underskilled job seekers (prospective students) and a labor market of employers seeking a competitive workforce to fuel their enterprise. Where those two markets meet, competition in the higher education industry grows more fierce with new competitors, new market leaders, new disruptive technologies, and new approaches to education. To thrive in highly competitive environments firms must deliver their products, services, brand, and reputation in a way that attracts markets continually over time. That is, to win in a competitive marketplace, one must build a sustainable competitive advantage. In pursuit of building such an advantage, TSTC leadership has reflected on the past, current, and future state of industry demand, competition and other environmental factors. Leadership captured this assessment in the framework of strengths, weaknesses, opportunities, and threats (SWOT Analysis) through the lens of TSTC, its competition, and the marketplace of employers and consumers. This SWOT Analysis included the identification of critical pairings to highlight unique value propositions and market opportunities. An example of this is outlined in Figure 01. Critical pairings answer questions like “Where can TSTC focus that the competition cannot?” After months of refining and recasting past, present and future state assumptions, TSTC leadership identified three focus areas that define TSTC’s position in the competitive marketplace. They are called the Big 3, TSTC’s Strategic Imperatives, and they will define the sustainable competitive advantage. Figure 01 Environmental Opportunity (skills gap) TSTC Strength (high-tech, high-demand programs) Critical Pairing Figure 02 Be Better than Others We believe that providing quality in all we do increases stakeholder satisfaction. STRATEGIC PLAN & BUDGET REPORT 5
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Page 31 and 32: APPROVED 08/18/2022 The Big 3 1. Be
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Page 35 and 36: APPROVED 08/18/2022 FY22 WIG 3 : 3
Page 37 and 38: Total 181,944 140,524 0 Transportat
Page 39 and 40: Enrollment Management Enrollment Ma
Page 41 and 42: APPROVED 08/18/2022 EXHIBIT VI: TST
Page 43: APPROVED 08/18/2022 © Copyright Te

FY23 Strategic Plan and Budget Report

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