Strategic Guideposts and Principles
Strategic Principles – Key Themes:
Inspire and empower entrepreneurial leaders to thrive in any context
- Define and own the broad definition of entrepreneurship, which includes creating economic and social value simultaneously.
- Extend entrepreneurship, which is focused on process, to entrepreneurial leadership, which is about people. Draw from all disciplines to educate learners in entrepreneurial leadership skills.
- Support application of these skills in any context—startups, social ventures, large corporations, government, and beyond.
Build and leverage the most impactful, networked, global entrepreneurial ecosystem
- Be the catalyst and orchestrator of ecosystems to amplify and scale Babson impact.
- Develop a partner first approach, seeking partners to achieve Babson goals to harness the resources of ecosystems and continue to have an outsized impact.
- Utilize ecosystem relationships to increase experiential and global learning opportunities for students.
Engage learners on their terms
- Be student centric, and adapt to student needs.
- Reframe students as learners.
- Engage on their terms—across their career path with lifelong learning, online for distance enabled education, and with content and credential formats that meet their needs and the evolving needs of industry.
Model entrepreneurial leadership
- Practice what we teach—be the model for entrepreneurial leadership and the high performance organizations we want our students to create and influence.
- Drive a culture of collaboration and trust.
- Become a metrics driven decision making enterprise.
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
Profound disruption is occurring across higher education. Colleges and universities are contending with serious headwinds, including—among other challenges—unfavorable demographic trends and declining enrollment, especially in MBA programs. In the last three years, more than 100 colleges and universities have closed, and some experts predict that nearly half will disappear or merge in the next 10 years.
It is essential that Babson capitalize on its strengths and set in place the conditions that will allow the College to remain the global leader in entrepreneurship education. Change is fertile ground for Entrepreneurial Thought & Action.®
Since strategic planning launched in May, the Babson community has enthusiastically embraced the process, contributing more than 4,400 inputs—including email and online feedback, survey responses and event participation—to guide and inform planning efforts. , comprised of more than 170 stakeholders, worked diligently to analyze data, integrate community input, and generate 30 guiding principles and 40 recommendations.