doi:10.3850/978-981-08-7156-7_P043

ABSTRACT

The success of a continuing engineering educational program depends on the process of identifying specialty areas within an institution which showcase highly successful and currently marketable fields of expertise, locating niches in the market for that expertise and developing a sustainable business model that produces revenue and promotes the institution. This case study chronicles the history of the University of Kansas Aerospace Short Course Program which ties up with major aerospace industry transformations in the past 34 years and the developmental process from two classes to 88 classes in a year. The paper also discusses the interconnecting relationship of the people, strategy, processes, systems and execution in transforming a vision for a financially successful continuing educational unit to one of the world’s most respected professional development programs in the aerospace and defense industries. Finally, we detail our observations related to the parameters that affect both the revenue and overage; specifically we will concentrate on our continuously evolving business management techniques, ongoing industry research that matches our “products” with the market niches, competitive market analysis, pricing of courses, innovative sales strategies, personalized customer services, staff and faculty considerations, direct expenses and overhead costs.

Keywords: Business model, Business management process, Aerospace industry, Program development, Strategic planning, Financial feasibility.

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