Today our class was able to listen to a presentation given by Elon’s Assistant Vice President and CIO, Chris Fulkerson. Chris talked to us about the business side of Elon University and he made it clear that Elon was in fact a business. Elon University is a non-profit business with a mission to educate students in a friendly environment and encourage freedom of thought.
Who is the Customer?
The board of trustees own Elon University. Surprisingly enough, they only have one employee. Leo Lambert, current president of Elon, is the only employee and he oversees everything that goes on at the school. The customer’s for Elon are the students who pay tuition to receive an Elon education. With a 92% growth in the student body over the last year, Elon has gained many more customers over the years allowing them to use that money towards improving the Elon campus.
What does the Customer Value?
The students at Elon values the education they receive from the school, and the degree awarded to them once they graduate. Another thing student’s value is the fact that an Elon degree continues to increase in value as time goes on. Since Elon is continuing to grow and become more selective, an Elon degree is worth much more now than it was twenty years ago.
What are the Results?
The results at Elon University are magnificent. Elon has transformed into a beautiful school with a plan for the future. The students attending Elon are becoming smarter and smarter each year. In 1993, only 18% of incoming freshman represented the top 20% of their high school class. Currently, 63% of Elon students were in the top 20% of their graduating class. These numbers show the successful results of Elon University.
What is the Plan?
Every ten years, Elon comes up with a new plan for the future. This includes what new construction projects will be started to better the Elon campus. Elon is going to continue building new dormitories and facilities across the beautiful campus to hopefully lure prospective students. Elon spent over $33 million dollars on real estate projects in 2011. As the student body at Elon continues to expand, Elon will keep building and will become even more prestigious than it is today.
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