Strathmore University Annual Report 2016 Innovation Research Annual Report and Financial Statements 2016 Strathmore University Annual Report 2016 1 A T HMO R E Strathmore University Annual Report 2016 TABLE OF CONTENTS Strathmore at a glance 3 1 Our Coat of Arms 4 History of Strathmore 5 Our Strategic pillars 9 Our Diversity 10 Year in Review – 2016 11 Strategic Review 13 2 Capitals 14 Business Model 15 Our Strategic priorities 16 Key Performance Indicators 19 3 2016 Highlights 20 a. Financial KPIs 20 b. Non- Financial KPIs 25 4 Stakeholder Analysis & Engagement 27 5 Governance & Management Report 36 a. Profile of University Council members 37 b. Statement from Chair of University Council 45 c. Vice Chancellor’s Report 47 d. Corporate Governance Report 49 6 Risk Management Report 57 7 Sustainability Report 60 a. Our People – Human & Intellectual capital 61 b. Environmental Initiatives 64 c. Community Engagement initiatives 66 Financial Aid 71 8 Research Report 73 9 Student Affairs Report 77 10 Schools Reports 83 11 Financial Statements for the year ended Dec 2016 114 2 Strathmore University Annual Report 2016 Strathmore at a glance 3 Strathmore University Annual Report 2016 Who we are Our Coat of Arms The Three Hearts represent the three races which, in 1961 when the University started, were segregated (Gold) Gold means Yellow: in the colonial system of education. eternity, perfection. The heart represents the person, (Azure) Sky blue means Blue: since it is taken as the source of all high ideals, high aims. our actions, and the source of love. (Gules) Blood red means Red: The fact that the three hearts all sacrifice, love, fortitude. have the same colour shows the equality of all people and their aim to love and understand each other. At the beginning it clearly pointed at the target of racial unity. Today it symbolises the common aim of parents, teachers and students in the educational process of Strathmore. The Lion is the symbol of strength and courage, and of the determined fight for excellence and justice. It also represents Kenya, our country, which The Motto "Ut omnes strives to attain all the qualities unum sint" is Latin. It is a mentioned above. quotation from a passage of the Gospel, and means "That all may be one". It expresses our desire to work together towards the same aim, in spite of personal differences or opinion, tastes and backgrounds. The colours in heraldry (the science The Rose in full bloom represents love, the source of all good dealing with coats of desires and actions, even if at times this means loving sacrifice, as arms) have associated represented by the thorns. The rose has a supernatural meaning too. meanings as follows: Love, with capital letters, is love of God. The rose also has a historical meaning associated with the life of Saint Josemaría Escrivá, founder of Opus Dei, who inspired and encouraged the people who started Strathmore: he once received a divine sign in the form of a carved gilded rose in a very trying moment of his life. 4 Strathmore University Annual Report 2016 History of Strathmore History of Strathmore 1961 Strathmore College was 1966 started in 1961 as an Advanced-level Sixth In March 1966, the first Form College offering intake of Accountancy Science and Arts subjects students, twenty-five in by a group of number, joined the professionals, who formed Sixth Form students, a charitable Educational and began preparing Trust (now the Strathmore for the examinations of Educational Trust). Saint the UK-based Josemaría Escrivá, Association of founder of Opus Dei, Chartered Certified inspired and encouraged Accountants (ACCA). them to start the College. 1993 1989 Strathmore College merged with Kianda College (the first Construction of the new multi-racial Secretarial & Business campus at Madaraka, Ole College for women in Sangale road, pre-independent Kenya) and commenced in moved to the present campus. September 2002 In August 2002, the Commission of Higher Education awarded 2004 Strathmore a Letter of The first undergraduate Interim Authority to students to enroll in operate as a University these faculties with a Faculty of completed their 4-year Commerce and a Faculty degree course in of Information December 2004. Technology. 2005 2008 Establishment of The University's the Strathmore Charter was gazetted Business School. on June 23rd 2008, under the Universities Act (CAP 210B) in the 'Kenya Gazette' supplement no. 47. 2011 Completion of the construction of a Business School, Students’ Centre, and Management Science Buildings respectively. 5 Strathmore University Annual Report 2016 Timeline of the Academic Programmes Bachelor of Science in Tourism Management Bachelor of Laws Bachelor of Arts Communication Studies Bachelor of Bachelor of Commerce Science in Hospitality Master of Public Management Policy and Master of Management Master of Science Science in Mobile in Information Telecommunica- Technology Master of tions and Bachelor of Science in Master of Innovation Computer-Based Business Science Bachelor of Science in Information in Finance Science in Information Systems Telecommunica- Systems tions Security 2001 2005 2006 2007 2008 2010 2011 2012 2013 2015 2016 Bachelor of Bachelor of Master of Science in Business Science Business Leadership and in Actuarial Administration in Bachelor Master of Management Science Healthcare of Business Business Management in Information Administration Bachelor of Arts Technology Master of Development Bachelor of Science in studies Science in Statistical Informatics Science Bachelor of Business Science in Financial Master of Master of Economics Master of Science in Commerce Science in Mobile Mathematical Telecommunica- Finance tions and Innovation Master of Science in Bio-mathematics 6 Strathmore University Annual Report 2016 Our Vision Our Mission To become a leading out-come To provide all-round, quality driven entrepreneurial research education in an atmosphere University by translating of freedom and responsibility our excellence into major excellence in teaching, research contribution to culture, economic and scholarship, ethical and social well-being and quality of life. development and service to the society. Our Values Excellence – Through sanctification Subsidiarity - We seek to provide of work, we strive for work excellence solutions at the most immediate and the highest-quality output. level to a need Freedom and responsibility - We respect Collegiality - We respect one another’s the freedom of the individual person and commitment to a common purpose and work acknowledge that with freedom comes together to meet the needs of our clients. responsibility. Life-long learning - We develop programmes Ethical practice - We honour the beliefs, and adapt teaching methods that equip morals and values of the academic learners with skills and tools for innovation profession and help others to do the same. and adaptability and personal development Personalized attention - We seek to Service to society - We serve society provide an environment where all our through research, education and institutional stakeholders can receive individual and citizenship. customized service and support. Our Schools Offering Strathmore Institute for Mathematical Sciences, - 13 undergraduate programmes Strathmore Law School, - 11 Masters’ degrees and School of Tourism and Hospitality, - PhD program in business, Faculty of Information Technology, entrepreneurship, finance, School of Humanities and Social Sciences, mathematical sciences, philosophy. School of Management & Commerce - Continuing education in executive Strathmore Business School. training 7 Strathmore University Annual Report 2016 Our Research Centres Strathmore is a research-intensive university with 18 research centers: Strathmore Energy Research Center Strathmore Risk Manage- ment Centre and Strathmore Strathmore @iLabAfrica Centre for Val- Centre for Intel- Research & ue Investing. lectual Property Innovation & Information Center Strathmore Strathmore Technology Law Extractives Dispute Industry Research Centre Centre Strathmore Enterprise Strathmore Development Institute for Centre Public Policy & Governance Research Centre for Research in Strathmore Therapeutic University Sciences Press Centre for Research in Kenya Climate Organisations, Innovation Strathmore Strathmore Work and Centre African Cen- Centre for Family tre for Busi- Sustainability ness & Human Leadership Strathmore Rights Institute for Healthcare Management Strathmore Tax Research Centre 8 Strathmore University Annual Report 2016 Our Strategic Pillars Strathmore’s strategy has a strong link to its foundational aims of transforming society in all its activities. In 2015, the University Council launched the University’s 10-year Strategic Plan that spells out its areas of strategic focus. The three main pillars as detailed in the current strategy are: Teaching We provide all-rounded education in select disciplines of management science, information technology and computer 01 science, hospitality, mathematical sciences, health sciences, law, the arts and humanities. Research and Enterprise We have dedicated research centres and institutes and use a triple-helix research cooperation model involving industry, government and academia. This ensures that 02 students joining Strathmore are exposed to research opportunities in diverse areas of specialization. Service to Society We serve society through research, education and global citizenship. Through research, we advance knowledge that is the foundation of improvements in human well-being. 03