FY23 Strategic Plan and Budget Report

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
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