2020-25 Strategic Goals and Implementation Plan

Mission

Vision

Finance and Business support the Penn State community through excellent service and stewardship of the University’s human, financial, physical and environmental resources.

Finance and Business will strive for excellence in all we do to support the success of our students, faculty and staff.

Values

We asked some of our F&B colleagues what it means to live out these values in their everyday work lives.
Click here to read their stories. 

Integrity: We act with integrity and honesty in accordance with the highest academic, professional, and ethical standards.

Respect: We respect and honor the dignity of each person, embrace civil discourse, and foster a diverse and inclusive community.

Excellence: We strive for excellence in all our endeavors as individuals, an institution, and a leader in higher education.

Responsibility: We act responsibly, and we are accountable for our decisions, actions, and their consequences.

Discovery: We seek and create new knowledge and understanding, and foster creativity and innovation, for the benefit of our communities, society, and the environment.

Community: We work together for the betterment of our University, the communities we serve, and the world.

 

Goal 1: Creating Organizational Resiliency Capability in F&B 

Finance and Business (F&B) will enhance its ability to anticipate, prepare, respond and adapt to the changing physical-economic and social environments and disruptions in higher education. The main focus will be on setting long-term strategies to endure, innovate and thrive. 

Objective 1.1: Reevaluate organizational management strength in facing a crisis and analyze opportunities to improve F&B's resiliency against future disruptions. 
Objective 1.2: Develop comprehensive short- and long-term business continuity strategies for financial, operational, and workforce needs. 
Objective 1.3: Develop and implement a comprehensive educational effort to build capacity and competence in business continuity, risk assessment, sustainability, and financial planning. 
Objective 1.4: Formulate and implement a proactive strategy for reducing the environmental impact of F&B operations to increase our resilience to climate change, biodiversity loss, and public perception.

 

Goal 2: Reimagining the Workforce/Workplace

F&B will continue to focus and develop a workforce that can adapt to changing environments by investing in expanding employee skillsets, competencies, opportunities, experiences, and support. The investment will provide employees with the ability to excel in their roles and careers in Finance and Business and/or the University. By reimaging how employees work (e.g., considerations of remote working and other flexible arrangements) and promoting "change readiness" will better attract and retain a first-class workforce and provide for enhanced business continuity. 

Objective 2.1: Implement an integrative talent management initiative that focuses on developing employee careers, starting with talent acquisition and career development plans. 
Objective 2.2: Develop strategies and plans for creating alternative work environments, where applicable. This includes, but is not limited to work schedules, shared jobs, flex arrangements, and teleworking.  

 

Goal 3: Advancing diversity, equity, and inclusion

F&B will actively support and engage in efforts to help employees develop and maintain a sense of belonging by identifying and deconstructing systemic and structural barriers within F&B units that inhibit the promotion of equity, diversity, and inclusion. F&B will enhance the development and implementation of meaningful educational/programmatic efforts that focus on diversity, equity, and inclusion that increase the recruitment, retention, and career advancement of employees from historically underrepresented and marginalized backgrounds.

Objective 3.1: Support and engage in efforts to help employees develop and main a sense of belonging.
Objective 3.2: Develop, support, and implement meaningful educational programmatic efforts which focus on diversity, equity, and inclusion.
Objective 3.3: Support efforts to increase the recruitment, retention, and career advancement of staff from historically underrepresented and marginalized backgrounds.

 

Goal 4: Enhancing Organizational Excellence

F&B will increase the development of consistent organizational, operational practices, principles, processes, and measures that create effective stewards of University resources without disrupting F&B's excellent quality and service. F&B will continue to leverage data analytics and data-driven decision-making (KPI’s) to measure progress and align customer-centric services.

Objective 4.1: Continue to support and execute the Resource Optimization Initiative (ROI).
Objective 4.2: Identify areas of cross-division operational efficiency and sustainability.
Objective 4.3: Build a central capacity consistent with University Organizational Excellence (OE) framework.

 

Download the 2020-25 Strategic Plan

 

Introduction   |    Planning Process   |    F&B Values   |   Strategic Plan University Resources