1.1 The school maintains a well-documented strategic plan, developed through a robust and collaborative planning process involving key stakeholder input, that informs the school on resource allocation priorities. The strategic plan should also articulate a clear and focused mission for the school.
1.2 The school regularly monitors its progress against its planned strategies and expected outcomes and communicates its progress to key stakeholders. As part of monitoring, the school conducts formal risk analysis and has plans to mitigate identified major risks.
1.3 As the school carries out its mission, it embraces innovation as a key element of continuous improvement.
1.4 The school demonstrates a commitment to positive societal impact as expressed in and supported by its focused mission and specifies how it intends to achieve this impact.

Definitions
• Mission is a single statement or set of statements serving as a guide for the school and its stakeholders. These statements capture the school's core purposes, express its aspirations, and describe its distinguishing features.
• The term focused implies the mission should yield distinctive aspects of the school's strategies, outcomes and accomplishments that are special or notable.
• Strategies are overarching statements of direction derived from the strategic management processes of the school. Strategies describe how the school intends to achieve its mission and expected outcomes.
• Expected outcomes are conveyed as broad or high-level statements describing the impact the school expects to achieve as it pursues its mission through educational activities, scholarship, and other endeavors. Expected outcomes translate the mission into strategic goals against which the school evaluates its success.
• Societal impact refers to how a school makes a positive impact on the betterment of society, as identified in the school's mission and strategic plan. Societal impact can be at a local, regional, national, or international level.

Basis for Judgment
1.1 Maintenance of a Strategic Plan
• The school's mission identifies attributes, focus areas, and priorities that indicate how the school positions itself among the community of business schools. The mission informs the strategic plan and should be reviewed and updated periodically in alignment with the school's normal planning cycle. The mission statement is articulated as part of the strategic plan.
• The strategic plan is developed and refined through engagement with key internal and external stakeholders.
• The strategic plan is available for review by the peer review team and demonstrates a commitment to continuous improvement through regular review and revision and through key stakeholder input.
• The school's strategic plan defines the communities and learners the school intends to serve, including the level of degree programs the school offers. The school also identifies the non-degree programs and corresponding communities it intends to serve.
• The plan identifies strategies for maintenance of a high-quality learner experiences, including current and relevant curriculum and strategies for recruitment and retention of qualified faculty.
• The school's strategic plan clearly identifies the type of intellectual contributions it expects faculty to produce to influence business education and to connect with the practice of business, consistent with the school's stated mission.
• The school's strategic plan identifies the strategies through which the school intends to provide thought leadership within intellectual contributions.

1.2 Monitoring of the Strategic Plan
• The school is transparent in the conveyance of its strategic plan and regularly reports on its progress toward achieving its mission, strategies, and expected outcomes to both internal and external key stakeholders.
• The school should maintain an ongoing risk analysis, identifying potential risks that could significantly impair its ability to fulfill the school's mission, as well as a contingency plan for mitigating these risks.
1.3 Innovation
• The strategic plan identifies how and where the school is innovative in thought and in action.
1.4 Societal Impact
• The school's strategic plan clearly identifies the strategies, including the allocation of human and financial capital, through which it will make a positive impact on society, the practice of business, the diversity of people and ideas, and the success of graduates.

Suggested Documentation
1.1 Maintenance of a Strategic Plan
• Provide the strategic plan of the business unit that encompasses the strategies and expected outcomes to be pursued by the school, consistent with the school's mission. The strategic plan should include a description of the mission, strategies, and expected outcomes, including how the mission is encapsulated in supporting statements.
• Describe processes for creating and revising the strategic plan, including a description of how internal and external key stakeholders both inform the plan and are kept abreast of progress toward meeting goals of the plan.
• Include in the plan strategies for promoting a high-quality learner experience and curriculum currency and relevancy.
• Include in the plan a discussion of the faculty management model, including recruitment, retention, and development of qualified faculty.
• Ensure the strategic plan clearly identifies the types (e.g., basic, applied, or teaching and learning) and priorities of intellectual contributions the school intends to produce consistent with its mission.
• Describe the focused nature of the mission for the school's stakeholders, relative to learners, employers, and other key stakeholders.
• Describe how the strategic plan and mission of the school relate to and support the strategic plan and mission of any larger organization of which it is a part.
1.2 Monitoring of the Strategic Plan
• Summarize and document annual progress toward meeting goals of the strategic plan.
• Describe the risks that could impede the school's ability to fulfill its mission and the plan to mitigate these risks.

• Describe how the plan is shared with key internal and external stakeholders, identifying these groups specifically and how such key stakeholder input has been incorporated into the plan.
1.3 Innovation
• Describe how the school's strategic plan encourages and supports innovation across all school activities, including faculty and staff hiring plans, curricular and co-curricular content and activities, interdisciplinary efforts, and technologies both employed within teaching and taught within the curriculum.
1.4 Societal Impact
• Include within the strategic plan how the school will allocate both human and financial capital to support the school's aspiration to make a positive contribution to society.
• Describe how the mission positively impacts society, business education, the diversity of people and ideas, and the success of graduates.