In May 2019, Babson President Stephen Spinelli Jr. MBA’92, PhD, launched a strategic planning process with a clear goal: Engage the entire Babson community to rapidly develop a shared strategic plan for Babson to thrive in a changing environment.
Six strategic planning task forces worked diligently to generate 30 guiding principles and 40 recommendations. Following an intensive effort to synthesize the task force recommendations, a strategic framework was presented to the Babson College Board of Trustees in October 2019. The Board unanimously endorsed four strategic principles as a framework for developing a comprehensive strategic plan. The Synthesis Team continued to work throughout the winter to integrate and refine the Task Force recommendations and to generate five strategic initiatives aligned to the strategic framework and principles.
Those initiatives were reviewed and endorsed by the Board of Trustees in February and presented to the Babson community at a forum in early March. Taken together, the strategic initiatives chart a bold course forward for the College.
June 9, 2020
Dear Babson Community:
One year ago, we launched a strategic planning process with a clear goal: engage the Babson community to rapidly develop a strategic plan for Babson to thrive in a changing environment. At the time, today’s global health circumstances and related economic impact would have seemed unimaginable. Yet the COVID-19 experience has proven to be a real-time market test of our strategy.
Our purpose—which emerged in the strategic planning process—is to empower learners anywhere to create lasting economic and social value for themselves, their communities and the world. We do this through a market-driven, community-developed strategy, “One Babson: Entrepreneurial Leadership Impacting Ecosystems Everywhere.”
I believe COVID-19 has validated the areas of strength identified through strategic planning, and accelerated our strategic initiatives around radically re-creating our organization, owning entrepreneurial leadership, and delivering education where and when learners demand it:
- Working as One Babson – a community of faculty and staff operating as a high performance, adaptive, inclusive and collaborative organization. Delivering an entrepreneurially-inspired business learning experience for undergraduate, graduate, corporate and academic learners through our core values, offerings, experiential programs and deep expertise.
- Expanding our focus to own Entrepreneurial Leadership – a transdisciplinary and collaborative approach for learners globally to embrace accelerated change, solve problems and act on opportunities to impact businesses and communities.
- Reaching learners everywhere – where, when, and how they need it—personally, professionally, geographically and financially—through personalized and technology amplified pathways that lead to a variety of credentials and competencies.
- Scaling our impact through networks and ecosystems built and grown through a “partner first” mentality and learning agility.
- Exploring new models for learning through disciplined experimentation designed to generate rapid innovation to maximize learner success.
I have narrated a presentation that outlines the next steps in our strategic planning efforts, and highlights how we will chart a bold course forward for continued leadership at the forefront of entrepreneurship education. Agility and adaptability are key elements of our strategy. Those tenets are more important than ever as we navigate uncertainty, and we will continue to accelerate and evolve our strategy as opportunities arise.
The extraordinary engagement of the Babson community around the world has informed and strengthened the strategic planning process. Your collective input is invaluable and demonstrates the strength of our Babson network. Thank you for your ongoing support and commitment to Babson. I look forward to sharing the final articulation of our strategy, with more concrete plans and details, later this summer.
How Will We Do It?
Establish the Arthur M. Blank School for Entrepreneurial Leadership
- New Endowed Faculty Chair and funded leadership position
- New Executive Doctorate program
- New Research and case writing curated via a new portal
- Launch and promulgate Entrepreneurial Leadership Village
- Transdisciplinary curriculum
- Blank Global Challenge to drive thought and action to address UN Global Goals
Expand our brand positioning to include Entrepreneurial Leadership
Deploy digital strategy to maximize lifelong learning relationships
How Will We Do It?
Build “Babson Online”
Deliver multi-modal content and experiences to provide lifetime learning opportunities
How Will We Do It?
Formally incorporate experiential problem solving across all degree programs—every Babson learner gains and employs skills to solve the real-world problems of business, government, and society
Conduct sophisticated and disciplined experiments to create new pathways to earn a Babson degree
How Will We Do It?
Convene and/or engage in ecosystems to transform entrepreneurial systems and conditions
How Will We Do It?
Drive a culture of trust, collaboration and inclusive excellence
Evolve the faculty model to better utilize faculty talent, invest in teaching and research, and value alternative career pathways to success
The current global health crisis validates the strategic initiatives the community is developing. In fact, the crisis has proven to be a real-time market test of the strategy. Now is the time to accelerate implementation for the greatest impact on Babson’s future.
Entrepreneurship is core to humanity.
We each carry within us vast potential to create new solutions, act on our values, and impact the world in positive and powerful ways.
Babson can unleash and amplify this potential to have impact.
With a developed entrepreneurial mindset, training, and inspiration, people everywhere can create lasting value for ourselves, our communities, and the world.
How we learn, teach, and operate must evolve.
We each must continually reinvent ourselves by acquiring new skills and knowledge. Colleges and universities also must reinvent themselves, engaging learners more deeply, co-creating relevant, experiential learning and real problem-solving opportunities.
Entrepreneurship is the most powerful driver of positive change.
Entrepreneurship is the most powerful tool there is to confront and overcome today’s challenges and find opportunity in change.
We are stronger together.
We can achieve more when we move powerfully together, respecting and trusting each other, developing and strengthening networks, and connecting with diverse, multiple, even unlikely partners in order to accomplish shared goals.
We must break barriers to access and opportunity.
We can create value for everyone, everywhere. There can be no edge. Everyone should have access to opportunities, and to the tools for learning and untethered self-determination.
We can have impact everywhere.
We can educate and act across geography, across politics, across demographics, and across the lifespan.
There is no choice between societal and economic value.
We must have both. Each creates and strengthens the other. Finding, developing, and scaling opportunities that do both, simultaneously, is the ultimate challenge of our time.