019: Craft your bursary strategy

In this episode, I explore how two of my passions can be combined: strategy and the importance of focusing your resources on the things that will make a difference, and bursary provision within independent schools and the way that it can impact on social mobility. I consider the questions that you need to ask and the options you have going forward as you craft your bursary strategy.I begin by defining what I mean by bursaries and bursary strategies. I outline the differences between a bursary and a scholarship, and note the increasing shift towards means-tested bursaries in the UK and a subsequent shift towards fundraising campaigns and away from capital campaigns.After defining bursaries, I look at the how the 'four building blocks of strategy' can help structure your thinking around strategy. I look at the strategic choices you need to make as you define your big picture, long term vision for bursaries in your school. I outline possible accelerators and sticking points: internal strengths and weakness and external opportunities and threats. I look at how you can identify the general approach to overcoming the sticking points and, finally, I reinforce the importance of an action plan. Episode highlightsDefining Bursaries (01:40)Four building blocks of strategy (04:42)Your vision and strategic choices (05:18)Accelerators and sticking points (17:14)Identifying the general approach (22:23)The importance of an action plan (23:26)References and resourcesEpisode 004: The outlook for commercial income with Andrew Cook, Repton School at: http://www.consultjuliet.co.uk/004Episode 009: Reimagining your fundraising case for support at: http://www.consultjuliet.co.uk/009Episode 013: Strategy: Four essential building blocks (Strategy Toolkit 2) at: http://www.consultjuliet.co.uk/013‘Rethinking Strategy in Independent Schools’ research report at: https://www.consultjuliet.co.uk/rethinking-strategyDiscover all the Series 1 episodes at: www.consultjuliet.co.uk/podcastSign up to Juliet Corbett’s newsletter at: www.consultjuliet.co.uk/signupFind out more about Juliet Corbett’s work and discover a host of free resources at: www.consultjuliet.co.ukThank you so much for listening to The Independent School Podcast. I would be grateful if you could spare a couple of minutes to send me some feedback here. This helps me make the podcast as helpful as possible to listeners. Thank you!