Essentials of Business & Money Management (BUS-104-01)

Team Triumph: Beethoven, Jeff, Tim

Course At a Glance Builds strong foundation of finance Understanding of personal finance BizCafe business simulation enhances

teamwork, leadership & public speaking

Greater opportunity for future success

Key Highlights Problem & Solution Stakeholder Analysis Force Field Analysis Resistance & Programs to Combat It Communication Strategy Implementation Plan & Budget Practicality Assessment & Consolidation

There is a problem here at Nichols… College Students are expected to know

important financial basics Most college students are lost in the practical

financial world Nichols College students are held to a high

expectation level of business skills

Loss of Competitive Edge Umass Amherst: Isenberg School of

Business BUS-MGMT “Personal Finance for

Business Leaders” They’re not the only ones…

The Solution Fills the knowledge

gap Builds a strong

foundation Gives vital early-on

experience Provides a brighter

future

Nature of the Change

1st order change Relatively small

change Incremental change

in daily activities

Force Field Analysis

PROBLEM: There is a need for a course here at Nichols College teaching financial basics & essential business skills

that college students are just assumed to know

Students who

already know the material

 RANK: 7

Low Student Interest  RANK: 2

Stakeholder Opposition

(fear of failure)

  RANK: 4

Staffing Issue

 RANK:

8

RANK: 1 

High Studen

t Interest

RANK: 5 

Higher Retention/

Job Placement

Rates

RANK: 3  

Increase in Competitiv

e Edge

RANK: 6   Better

School Reputatio

n

Stakeholder Analysis

Prof. Westerling

Curriculum Committee

Bill Boffi

Students

Stakeholders

Stakeholder Calculated Decision Power

Decision PowerStudents

Bill Boffi's Office

Curriculum Committee (CC)

Professor Westerling (Assoc. Dean of Business)

Reasons for Resistance Student interest level Fear of Failure Practicality of the course No professor willing to teach the course

Practicality within Curriculum Directly aligned with

Nichols mission & learning objectives

Builds strong foundation for future courses

Develops students with career-focused experience

Preview of “Nichols Experience”

Programs to Overcome Resistance

Social Media Info Session at Fels Newsletter (Bison Beat) Ad Flyers Brochures Surveys

Student Survey Results 4 out of 7 said they lack an

understanding of basic finance 7 out of 7 said they would take this

course Student Interest Level: High Give the people what they want

The 9 Step Plan: Steps 1-3

Step 1: Obtain Faculty approval in department (1 Day)

Step 2: Prepare a Curriculum Change Form (1-2 Days)

Step 3: Department Chair signs proposal and gives to the Curriculum Committee (1-3 Days)

9 Step Plan: Steps 4-6

Step 4: The Curriculum Committee Chair (Dr. Jay Price) schedules the proposal for review by the committee (1-2 Weeks)

Step 5: The Curriculum Committee Chair sends the approved proposal to the Associate Dean of Business ( Professor Westerling) (1-7 Days)

Step 6: Once Dean approves, then sends 4 copies of the proposal back to the Curriculum Chair (4-7 Days)

9 Step Plan: Steps 7-9 Step 7: The Curriculum Chair

completes the proposal and is sent for review by the General Education Committee (1-9 Days)

Step 8: Once passed, is sent to the Registrar Betin Robichaud (3-4 Days)

Step 9: The Registrar adds the new course to the course catalog for students to select (1 Day)TOTAL

IMPLEMENTATION TIME:

23-48 Days

Communications Strategy Emphasis to Stakeholders- course objectives aligned w/ Nichols core values Promotions- ads, flyers, brochures, info session, social media(twitter)Spread the Word- increase interest by telling other students about the course

Budget Low impact & low

cost budget to fund change

$100 for food at the info session

$50 for supplies and ink for brochures and flyers

Financial Resources Besides promotion costs there is no

cost involved Little funding required to cover

promotion costs Adjunct professor if needed ($3000 per

course)

Gap Analysis

0%20%40%60%80%

100%

Student InterestRetention RateJob Placement Rate

Assessment Methods Student survey after course Feedback from students (SIR’s &

supplement) Group project, Final Exam, and Student

Reflection results Effect on retention & placement rates

(Gap Analysis)

Consolidation Review Assessment Results Weaknesses of the course will be

addressed & improved upon Student success & interest= future

student enrollment

Any Questions?