Introduction to the Business Venture
La Trobe University is one of the most prestigious universities in Australia and around the world. With a population of more than 25,000 students, around 1500 academic staff members, and over 1500 administrative members, the university is a major institution (La Trobe University 2014). The university attracts both local and international students, which makes it an excellent university. The university’s main aim is to provide quality higher education to students. At the same time, it seeks to provide an enabling environment for both non-teaching and teaching staff members to support the provision of quality and all-round learning for students (La Trobe University 2014). Family is an essential part of all individuals, and thus the well-being and safety of members are important aspects that determine whether staff members and students can be productive in their activities. This business plan proposes a free program for all students and staff kindergarten that will allow parents among the staff members and students to enroll their children at La Trobe University.
A kindergarten within the university is essential as many staff members and students with young children have trouble finding accessible and secure schools for their kids. Establishing a kindergarten within the University will provide immediate relief to these parents since the school will provide convenience in terms of access and peace of mind. The staff members and students with kids in the university’s kindergarten will be in a position to put more effort into their studies or roles within the institution. The kindergarten comes at a time when the need for infant and young children services among the working class is increasing drastically. According to Nowak, Maude, and Thomas (2013), more than 70% of families will soon have mothers in the workforce. Therefore, these parents will require accountable and high-quality children care services and arrangements for their children. Additionally, statistics show that more than 40% of children are left at home without proper supervision (Allen et al. 2013, p. 364).
Therefore, the kindergarten will provide a good opportunity for parents of young ones to access good and quality care as well as learning from within the University’s facilities.
Business Venture Analysis
As an institution of higher learning, La Trobe University is one of Australia’s largest universities (Mazzarol 2014). As part of its corporate social responsibility (CSR) and duty towards its employees, the kindergarten will be significant towards providing a good facility to support families within the University fraternity. The institution can set aside finances from its corporate social responsibility kitty to support the not-for-profit kindergarten in the institution for staff members and students (Gibb, Haskins, & Robertson 2013).
The not-for-profit Kindergarten enters a field, which is highly served by several other similar establishments around the institution as well as the city of Melbourne. For instance, in Melbourne, there are approximately ten (10) kindergartens around La Trobe University, which can compete with the proposed Kindergarten. However, the kindergartens are not free, and their fee ranges from $5000 annually to as high as $68,000 (Donelly & Preiss 2014). Despite this competition, the university will provide a ready market for the kindergarten since it is free for University staff and students. Further, since the kindergarten will be located at the University, it will have a competitive advantage over other establishments in the surrounding areas since it will offer convenience in terms of accessibility. Further, since it is a not-for-profit institution, the kindergarten will be less expensive as compared to other kindergartens, hence offering an important advantage over competitors (Chappell & Waylen 2013).
Furthermore, the kindergarten will offer other important services and products that are not accessible to other institutions. For instance, it will provide weekend workshops for parents and their children. In most cases, parents do not have time to follow up and or play with their children (Findlay, Kalleberg, & Warhurst 2013). In this case, the weekend workshops will be important in bringing both parents and children together and allowing them to bond. Secondly, the kindergarten will offer on-call/after official hours’ teacher availability. This assertion holds because parents will, at times, be late due to various commitments within the institution. In this case, the parents will be in a position to make a call to the on-call teachers and inform them of their possible lateness in picking their children after the official hours. In addition to the above unique services, the kindergarten will provide developmental progress reports every six months. These reports will provide important insights into the child’s progress as well as providing an opportunity for parents to follow any occurrences and developments.
The kindergarten aligns with the university’s vision of becoming an institution known for “excellence and innovation on issues of modern times and its enthusiasm to make a difference” (La Trobe University 2014, par. 2). The establishment will prove parents within the staff and student body with the opportunity to monitor the progress of their children’s education. Besides, the school will allow the students and staff members whose kids benefit, to concentrate more on their roles within the institution. This move will consequently allow them to contribute optimally towards the achievement of the institution’s goals (Longenecker et al. 2013).
When parents are assured that their young ones are taken care of and have access to the best education from the beginning, they are more likely to show loyalty and satisfaction with the institution. Therefore, they are more likely to work optimally for the benefit of the institution. The University’s efforts towards the establishment of the kindergarten will also be in conformity with its mission. The mission focuses on transforming the lives of students, engaging in groundbreaking research and innovation, and playing its important role in providing education, among other services to the community (La Trobe University 2014).
Resource Analysis
Resources and Costs
The kindergarten will require various resources in terms of facilities and human workforce to kick start its programs. Firstly, kindergarten requires three classrooms and one hall for hosting games and other indoor activities for the children. Further, the institution will require an open space to set outdoor play activity resources such as swings, bouncing castles, and trampoline, among others. Lastly, the kindergarten will require five staff members to provide learning and manage the institution. The following table provides a breakdown of the resources and costs required to start the kindergarten:
From estimates, the duration that is expected for the Kindergarten to be operational will be eight (8) months from the construction to furnishing and the recruitment of the staff members. The entire project will run from November 2015 to June 2016. The intake of new students will begin in July 2016.
Advantages and Disadvantages of the Kindergarten
The Kindergarten, like any other venture, has advantages and disadvantages. Firstly, one of the advantages is the view that since it will be free for staff and students’ children, it will contribute towards the betterment of their financial performance. This goal will be achieved by avoiding the cost that they would have otherwise paid to enroll their children in other schools. Secondly, the kindergarten will offer convenience and peace of mind for parents, thus giving them the room to concentrate more on their work and studies. This aspect works for the benefit of the university. Thirdly, the kindergarten will offer an important learning opportunity for students who are studying children-related courses, hence an advantage to the institution and the students. Lastly, the establishment will be an important indicator of the University’s dedication towards supporting staff and student members by recognizing the value that they bestow on their families.
On the other hand, there are various disadvantages to kindergarten. For instance, the institution will provide free services to the students and staff members. Therefore, over the years, the kindergarten will take a considerable share of financial resources from the University (Gnan, Hinna, & Monteduro 2013). Secondly, if it will not meet the quality of expectations of the parents, it may turn out as a useless project due to low or no enrollment of students.
Conclusion
The establishment of a kindergarten in La Trobe University is long overdue as part of the institution’s quest to provide a good working and learning environment for staff members and students, respectively. Therefore, the kindergarten will fill this existing gap by providing a secure and quality learning environment where students and staff members can drop their children at the University to access quality learning. At a projected budget of $180,000, the Kindergarten will be in a position to have the necessary resources, including five staff members, three classrooms, one hall, and other facilities. Therefore, the kindergarten will contribute towards the university’s mission and vision of becoming a first-class university famous for its excellence and innovation.
Reference List
Allen, D, Johnson, R, Kiburz, M & Shockley, K 2013, ‘Work–family conflict and flexible Work arrangements: Deconstructing flexibility’, Personnel Psychology, vol.66, no.2, pp. 345-376.
Chappell, L & Waylen, G 2013, ‘Gender and the hidden life of institutions’, Public Administration, vol. 91, no.3, pp. 599-615.
Donelly, B & Preiss, B 2014, A private or public education: That’s the $430,000 question. Web.
Findlay, P, Kalleberg, A & Warhurst, C 2013, ‘The challenge of job quality’, Human Relations, vol.66, no.4, pp. 441-451.
Gibb, A, Haskins, G & Robertson, I 2013, Leading the entrepreneurial university: Meeting the entrepreneurial development needs of higher education institutions, Springer, New York.
Gnan, L, Hinna, A & Monteduro, F 2013, Conceptualizing and researching governance in public and non-profit organizations, Emerald Group Publishing, Bradford.
La Trobe University: Our Vision. 2014. Web.
Longenecker, J, Petty, J, Palich, L & Hoy, F 2013, Small business management, Cengage Learning, Boston.
Mazzarol, T 2014, How do Australia’s universities engage with entrepreneurship and small business. Web.
Nowak, M, Naude, M & Thomas, G 2013, ‘Returning to work after maternity leave: Childcare and workplace flexibility’, Journal of Industrial Relations, vol. 55, no. 1, pp. 118-135.