Babson's Response to COVID-19

Our Process

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.

Together, the Babson community formulated 10 guideposts to frame and shape the strategic planning effort:

Strategic Plan Guideposts

  • Put students first
  • Transcend #1 ranking in Entrepreneurship—LEAD entrepreneurship education
  • Develop a business model that will thrive in a volatile marketplace
  • Collaboration is a necessity and competitive advantage
  • Diversity, equity and inclusion fuels collaboration and can differentiate the College
  • Serve as our alums’ lifelong, go-to educational resource
  • Be market driven—think outside the campus, engage stakeholders
  • Practice what we teach-ET&A-market driven, disruption, pilot and pivot
  • Entrepreneurship “everywhere”—reach more people in more ways
  • Be bold, be disruptive, be different—we are leaders

Across the stakeholder spectrum, community members contributed more than 4,400 ideas and insights—including email and online feedback, survey responses, and event participation—to guide and inform the strategic plan.

250

Nominations/​volunteers for task forces

155

Ideas and suggestions via email

3,407

Responses to surveys

26

External entrepre­neur­ship scholar/​practitioner inputs to plan

173

Stakeholders participating in task forces

481

Participants in brainstorming and feedback sessions

74

Principles and recom­menda­tions generated by the task forces and the synthesis team

50

External experts/​thought leaders tapped as president’s advisors

Six strategic planning task forces comprising more than 170 stakeholders, working  diligently to analyze data, integrate community input, and generate ideas. Their collective efforts produced 30 guiding principles  and 40 recommendations following more than 54 formal working sessions.

Meet the Task Force and Synthesis Team members who helped guide and shape Babson’s strategic planning efforts.

Learn more about the Multimodal Communications and Engagement Plan that guided our transparent and inclusive process.

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. This framework was shared with the Babson community at a Community Forum.

Strategic Principles

Inspire and empower entrepreneurial leaders to thrive in any context

Build and leverage the most impactful, networked, global entrepreneurial ecosystem

Engage learners on their terms

Model entrepreneurial leadership

 

The Synthesis Team continued to integrate and refine the Task Force recommendations and to generate strategic initiatives aligned to the strategic framework and principles. These proposed initiatives included:

  • Own Entrepreneurial Leadership
  • Deliver Education Where and When Learners Demand It
  • Develop Additional Education Models
  • Bolster Entrepreneurial Activity in Key Regions and Sectors
  • Radically recreate the organization

Those initiatives were reviewed with the Board of Trustees in February and the full Babson community in early March.

With continued refinement over the summer months, the College’s leadership team worked to finalize and articulate the new strategy, One Babson Delivering Entrepreneurial Leadership Anywhere, Impacting Ecosystems Everywhere.

View a full overview of our process, learnings and strategy.