Our Business On the Move
description
Transcript of Our Business On the Move
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Our BusinessOn the MoveCreating Opportunities out of Challenges
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Our Business program
On the Move – Understanding the changing VET environment
Opportunity Knocks – Part 1 - Building a successful business relationshipPart 2 - Evaluating a business opportunity
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Riverina Institute> Why are we here?
> Our ‘Profile’ – Facts and Figures
> External Environment
> Whole of Business
> Funding Sources
> How we are performing?
> Where to from here?
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Riverina Institute Snapshot
RI Strategic Prioritieshttp://intranet.rit.tafensw.edu.au/inst_dir/upload/Strategic_Goals/
A4_Strategic_Goals_07-11.pdf
RI Business Planshttp://intranet.rit.tafensw.edu.au/inst_dir/bport/default.aspx
RI Targetshttp://intranet.rit.tafensw.edu.au/targets/default.asp
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Quote from Rosemary
“Over 50% of our enrolments now come from contestable funding sources. These customers often want customised training that meets
their own particular business needs. If Riverina Institute can’t provide the services they want, then there is no shortage other public and private
Registered Training Organisations that are more than willing to take that business away from us”
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Discussion
> How is the external environment of VET changing?
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What affects RI?> COAG agenda
> Commonwealth funding agreements
> Industry requirements and response
> Market design focus
> Review of Higher Education
> VET in schools
> Other State directions
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Market designStates rewarded for adopting:
> National regulation of RTOs
> Choice in training provider, products, and service
> Individuals funded, not the institutions
> Contestability of all funding
> Competitive Neutrality
> Nationally Competitive Market
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VET in Schools
> Trade Training Centres in Schools program ($2.5 billion over 10 years)
> $500,00 - $1.5 m per school
> Funding for upgrades, refurbishments, new facilities
> For training in skills shortage areas to Cert III
> Application requires coordination with TAFE and other providers to ensure no duplication of facilities in the area
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Whole of Business
> What does this mean to you?
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Whole of Business ApproachIt’s about …> knowing the needs of our customers
> knowing where we have a competitive advantage
> tailoring our programs for different customer needs
> linking and integrating services (recognition, job placement, counselling, library, learner & disability support) with training and skills development
> diversifying our funding sources to ensure sustainability
> competing in the marketplace.
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Contestable FundingFunded places that we have to compete for include:
> Productivity Places Program (PPP)
> Traineeships
> Some Apprenticeships
> AMEP and LLNP
> Pre Vocational programs
> Strategic Skills Program (SSP)
A full list is maintained at: http://portal.rit.tafensw.edu.au/CF/Lists/Funding%20Sources/AllItems.aspx
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Productivity Places Program
> Federal Government initiative
> 450,000 places over 4 years
> 20,000 places from 1 April for job seekers
> 15,200 at Cert II and 4,800 at Cert III
> A significant proportion to be referred from job network
> Skill shortage areas
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Traineeships
Discussion
What % of NSW Traineeships are with TAFE?
Who are our major competitors?
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Funding Sources
Increase Of
333%since 1996
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Funding Sources
62% State Recurrent Funding approx $54.2M
38% External Funding approx $32.7M
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What do external funds pay for?
> 38% external funds represent…
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Our Funding Sources – 38% External
3%5%5%
9%
13%
57%
Commercial Activities
TVET & Other
TAFE FEE
Special Projects - Courses
Traineeships
Special Projects - Non Delivery
Indigenous Programs
CMF
International
Strategic Skills Program
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Where the money was allocated – 2008/2009
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ASH Trends (Actuals) – Core V External
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How does it all come together?
The Riverina Funding Model
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The Total Funding Picture
Infrastructure Maintenance &Utilities $1.299M
Salaries and Consumables$48.172M
Reinvestment of Margin in Core& Initiatives $4.026M
CentrallyManagedFunds$3.404M
ExternalPrograms $24.787M
Business Development Costs $1.7M
Core
Capital/Infrastructure/Equipment Funds $1.702M
CMF External
Equity open bal. $1.886M (Centrally set)
Equity closing bal$1.04M
External Margin $4.026M
$.846Last year loss
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Discussion
To respond to the new environment and ensure RI’s sustainability ...............................
What do I need to change about myself, my section and the Institute?
…… what's in it for me?
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Key Messages> Know your competitors
> Extend partnerships with enterprises to attract business – national and local
> Build partnerships with universities and schools
> Provide a comprehensive service for employers
> Promote existing support services; libraries, counselling
> Upgrade and expand information to clients
> Take new funding opportunities for skills development
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What’s next?
> Opportunity Knocks Part 1 (2 hours)Networking
> Opportunity Knocks Part 2 (2 Hours)Developing a Business Case
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Resources
Resources from this training are available at:
http://profdev.riverinainstitute.wikispaces.net/