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Exam Number : CIMAPRO17-BA2-X1-ENG
Exam Name : E3 Strategic Management Question Tutorial
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CIMA Strategic Actual Questions

 

Frequently Asked Questions

What is a strategic plan?

A strategic plan is a high-level framework—developed by leaders in conversation with the campus community and other stakeholders—that charts a course for the university’s future.

A strategic plan is a long-term effort: UTSA’s transformational plan follows a ten-year timeline (2018-2028) to become an even bigger and better university. At UTSA, our strategic plan is a shared, high-level vision to guide the activities of colleges, schools, departments, and units. The vision is broad enough to allow UTSA to capitalize on new opportunities to advance our mission.

 Three destinations anchor UTSA’s plan:

  • Be a model for student success
  • Be a great public research university
  • Be an exemplar for strategic growth and innovative excellence
  • How does the strategic plan benefit UTSA?

    UTSA’s strategic plan provides the campus community with the following: 

  • The opportunity to speak up and shape our shared future;
  • A vision that inspires each of us to excel to new levels of excellence;
  • A framework to align our time, resources, and energy toward common goals;
  • Shared key performance indicators and benchmarks to measure our progress; and
  • Regular accountability updates of what we have achieved and what we are working to achieve.
  • How did the “A Vision for UTSA” (2018-2028) strategic vision come about?

    When President Taylor Eighmy arrived at UTSA in 2017, he immediately launched a listening tour with internal and external stakeholders. In close collaboration with campus leaders and the UT System Board of Regents, UTSA used this feedback to identify three strategic destinations and target outcomes to guide our ten-year transformational vision. In addition, ten Models of Peer Excellence were selected to guide the implementation of UTSA’s priority initiatives to achieve our strategic vision.

    UTSA’s fundraising efforts closely align with our strategic vision. In October 2022, UTSA entered the public phase of the Be Bold Comprehensive Campaign. This $500m fundraising effort is designed to secure the financial support necessary to enable UTSA to reach its three destinations.

    How do UTSA’s strategic initiatives support the three destinations?

    UTSA’s three strategic destinations form a broad vision for what we are working to achieve across divisions, colleges, departments, and units. In 2018, UTSA began launching strategic initiatives—bounded projects and focused planning efforts by identified teams—to mobilize action and make the three destinations a reality. Along the way, project leaders have updated the campus as significant milestones are achieved. In 2022, more than 50 initiatives have been launched, and more than half have been fully operationalized or completed.

    Due to the interconnected nature of UTSA’s strategic destinations, many strategic initiatives support more than one destination. For example, Integrated Design, an initiative that led to the creation of the Margie and Bill Klesse College of Engineering and Integrated Design, advances all three destinations. By expanding experiential learning opportunities and mentoring programs, Klesse College enhances UTSA’s standing as a national model in student success (Destination 1). By fostering transdisciplinary research partnerships, Klesse College contributes to UTSA’s efforts to become a great public research university (Destination 2). And by offering a streamlined and collaborative administrative structure, Klesse College allows UTSA to deliver innovative services and support more effectively and efficiently (Destination 3). Destination-spanning initiatives, as well as destination-specific initiatives, both play a role in accelerating UTSA’s transformation. 

    How do we track and measure our success in implementing our strategic plan? How are we doing so far?

    UTSA’s strategic plan aspires to achieve institutional transformation. Each year, UTSA collects, analyzes, disseminates, and acts upon many forms of data at the university, college, and unit levels. These data—which include student enrollment data, graduation rates, research productivity, fundraising success, user satisfaction surveys, attendance data, and demographic information about faculty and staff, among other measures—serve as valuable internal measures of our progress to guide campus leaders in both strategic and operational decision-making. In addition, the University of Texas System reviews UTSA’s outcomes annually for monitoring our performance over time.

    Regarding our strategic destinations, UTSA has identified a set of key performance indicators that provide a high-level overview of institutional health. A mid-point progress report containing our strategic plan KPIs can be viewed here.  

    Why are we refreshing our plan in 2022-2023?

    In an email to campus (May 6, 2023), Dr. Eighmy explained the motivation for the strategic plan refresh:

    “I continue to believe, and to hear from many of you, that our 10-year plan has served us well since its implementation five years ago. The higher education landscape has undergone fundamental changes over the last three years. Now is an opportune time to conduct a thoughtful refresh to affirm our plan’s utility and modify it as needed to serve us for the next five years. This will also allow us to fulfill UT System’s periodic institutional strategic planning updates requirement.” 

    Hear Dr. Eighmy describe the goals and timeline refresh process here.

    What will happen in the refresh process?

    The refresh process is our opportunity as a UTSA community to take stock of what we have accomplished in the last five years, affirm which pieces are currently working well, and make revisions that will enable us to continue our trajectory of success.

    UTSA’s strategic plan refresh process will adopt the iterative, back-and-forth engagement strategies developed in the administration and follow-up of the Campus Climate Survey. Senior campus leaders will initiate the process in October 2022. Later this semester, VPs, deans, and unit heads will prime their faculty, staff, and students for the work ahead by describing the refresh process's goals and setting the stage for future conversations.

    Between January and mid-March of 2023, these same leaders will host conversations with their stakeholders—soliciting feedback and suggestions to affirm that they are working on UTSA’s strategic vision and opportunities for refinement. This feedback will be aggregated, analyzed, and shared with the members of the Steering Committee to draft a refreshed plan. 

    Throughout this year, UTSA leaders are committed to providing transparency and accountability by regularly engaging stakeholders about the refresh process and the plans' emerging revisions.

    UTSA’s strategic plan refresh process will take approximately one year, commencing in October 2022 and culminating in President Eighmy’s presentation of the refreshed plan and pro forma (long-range financial plan) to the UT System Regents in November 2023.

    Who is responsible for overseeing the strategic plan refresh?

    President Taylor Eighmy appointed Provost Kimberly Andrews Espy to chair the Strategic Plan Refresh Steering Committee (SPRSC), which includes more than thirty campus leaders, including representatives from the Faculty Senate, Staff Senate, Student Government Association (SGA) and Department Chairs’ Council. More about the Steering Committee’s membership and role here.

    Dr. Lisa Jasinski, Senior Director of Strategic Initiatives President’s Office, will coordinate support for the refresh process.

    How can I get involved?

    Throughout the strategic planning refresh process, members of the UTSA community will have many opportunities to get involved and have their voices heard. It takes all of us to move forward together.

    Look for information about upcoming virtual and in-person listening sessions hosted by your dean, vice president, and other campus leaders in the spring. Members of the UTSA community will be invited to share their feedback through online surveys and web portals. 

    Where can I get more information?

    This website is the primary resource regarding UTSA’s strategic vision and the refresh process in 2022-23. The President's Office has prepared a summary of key trends impacting higher education for the community to consider in advance of the spring town halls. Additional resources can be viewed in a Sharepoint Drive dedicated to the refresh process. 

    UTSA stakeholders can direct additional questions or feedback to strategicplanning@utsa.edu.


    Key Questions For Buying Or Selling A Home During The Pandemic

    Nearly every industry has been impacted by the global COVID-19 pandemic and real estate is no exception. Because the cornerstone of buying or selling a home is face-to-face interaction, the way we do business has been altered. Open houses and showings have been cancelled, conducting inspections and funding loans have become trickier, and even tasks like having documents notarized have created delays. Consequently, sellers may pull their homes off the market, while buyers may suspend their search. However, if we’ve learned anything from America’s ongoing toilet paper panic, it’s that adjusting to life amid COVID-19 requires us to prioritize rational analysis over gut impulse. 

    If you’re thinking about buying or selling a home – now or in the near future – you don’t necessarily have to abandon your efforts. By staying informed and working with experienced industry professionals, such as agents, attorneys and financial advisors, you can still achieve your real estate goals with a few strategic adjustments. Start by asking yourself the following key questions to determine how you might best navigate the real estate market during this (or any) global crisis.

    Should I withdraw my home from the market?

    Many sellers have withdrawn or are thinking about withdrawing their homes from the market because they don’t want to accumulate more days on the market when they are unable to conduct showings. A “withdrawn” status means that a home is not currently being shown, but the seller is still actively engaged with their agent. 

    There are multiple variables you should consider before withdrawing or deciding not to list your home at this time. Remember that a spike in withdrawn listings results in a reduced supply of homes, which could create an increase in buyer demand. 

    While the impact of COVID-19 has forced some buyers to walk away from deals, other buyers may be undeterred or even incentivized by current events. Those who work in essential industries or are undergoing job relocation may also be particularly motivated to buy. 

    Ultimately, though catalysts shift with current events, it’s important to remember that people have to buy and sell homes in any market. While things are still changing day-by-day, several areas are still leaning toward a seller’s market, due to fewer homes being listed.

    Is it wise to buy a home during a pandemic?

    Whether or not it's wise to buy a home right now depends on your individual situation. Potential buyers may have to reassess their financial reach post-COVID-19. If you have lost wealth in the stock market and you don’t have another source of income, it may not be wise to stretch yourself further by purchasing a home at this moment. But if your income is stable or has increased, you might be able to strike a better deal on a home now than you could have just a few weeks ago. 

    Though the coronavirus pandemic is unlikely to incite many fire sales any time soon, the market is beginning to experience some price adjustments. Buyers who aren’t attached to a particular home and are willing to explore different options may be able to negotiate with sellers for more favorable terms, such as a longer escrow.   

    Since more homes are being withdrawn from the market, buyers may start to feel discouraged – especially if a property they were excited about was withdrawn. However, just because a home was withdrawn doesn’t mean the seller isn’t still planning to sell their home. Since consumers don’t have access to important information regarding these status changes, working with a strong real estate agent is even more vital now than ever before. 

    How will COVID-19 impact pending transactions?

    If you’re already in the process of buying or selling a home and cannot fulfill your contractual obligations because of hardship imposed by COVID-19, you may be able to renegotiate a transaction’s terms using the force majeure provision. Force majeure provisions allow concessions for unforeseeable events or “acts of God” which may, according to the specific clause outlined in your contract, include a pandemic. Not all states have a force majeure provision automatically included in their agreement, so it’s important to engage an experienced real estate attorney to get clarification.  

    Social distancing regulations will very likely have an impact on the cadence of your real estate transaction. Expect delays that may result in more than just an inconvenience; for example, those who have experienced a change in employment status may have difficulty providing verification of employment before closing escrow. We are also seeing lenders reevaluate jumbo loans, down payment amounts and credit score requirements, which may impact a pending transaction. 

    Some buyers have had to press pause for thirty days or switch lenders mid-escrow in order to move forward. You may also need to negotiate a longer escrow period in order to accomplish all of the necessary home inspections that may not be possible while social distancing regulations are in place. 

    What is the long-term outlook?

    Though the coronavirus pandemic is unlikely to drastically alter the real estate market in the long term, it might have a lasting impact on the features buyers find most appealing. Accessory dwelling units (ADUs), for example, are already proving to be worth the investment, because they add longevity and multi-generational flexibility to a home. They may be in even higher demand, post-COVID-19, because of the ease with which they allow healthcare workers, frequent travelers, college students and elderly or ailing family members to socially distance themselves if necessary. 

    Because real estate is a tangible asset, it may become an even more attractive option for a diverse range of investors in the wake of COVID-19’s impact on the stock market. You may want to take this time to educate yourself on the basics of real estate investing, because it is never too late to begin building wealth with the right team and strategy in place.    


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