Academic excellence for business and the professions Working towards our vision Strategy 2026 www.city.ac.uk 1 “ What City does day in, Contents day out, year in and year out is to transform the lives of around Foreword 2 20,000 students, Vision 4 Our new chapter 6 create new knowledge, Strategy 8 Our strategy 10 Our strategic priorities support business and Maintain quality trajectory (‘better’) 12 Achieve growth (‘bigger’) 14 Leverage partnership working 16 the professions and 18 Living the Values Performance 20 contribute to the global Academic Output KPIs (Key Performance Indicators) 22 Planning 24 good of society.” Financial & Investment Plan 26 Financial sustainability 28 Professor Sir Paul Curran Estate 30 President City, University of London 2 City, University of London Vision & Strategy 2026 3 Foreword It is a privilege to be presenting City, University of London’s Vision & Strategy 2026 as we take the historic step of joining the University of London and embark on a path of quality, growth where possible and partnership. Leading our great university through six years of Working together, we will: Thanks to our academic and Professional Services staff transformation has been exhilarating. Much has • Build on the quality (‘better’) focus of the Strategic who have made this difficult journey, the effects of changed but I am pleased to say that one thing which Plan 2012 to 2016, maintaining City’s current these changes are now evident. The satisfaction of our has and will remain constant is our fundamental upwards trajectory in research intensity, research undergraduate students and our research grant and purpose. What City does day in, day out, year in and quality, education quality and student experience; contract income have never been higher. The quality of year out is to: our estate has never been better: for example, in 2015 • Achieve growth (‘bigger’) where possible in a way we opened the largest student sports facility in central • Transform the lives of our students; which maintains or increases quality. Over the next London, hot on the heels of several refurbished buildings • Create new knowledge; five years, growth will be achieved vertically where and six innovative underground lecture theatres. • Support business and the professions; existing subjects have momentum and horizontally where City’s existing strengths can be leveraged • Contribute to the global good of society. Our most significant achievements have been doubling through new and joint degrees and shared pathways. the proportion of our academic staff undertaking All of this is delivered by our dedicated academic and Growth in student numbers will be accompanied by world-leading or internationally excellent research and Professional Services staff who are guided by our five growth in research and enterprise income, reflecting increasing the satisfaction of our students by more than underlying values. Together, we are committed to being: both the breadth and impact of our research; any other university in the country, while moving into • Ambitious – a place where people seek new • Leverage partnership working internationally, financial surplus. challenges and go the extra mile to achieve the within London and through the University of London. Looking ahead, City’s future is inextricably bound to the strategic priorities set out in Vision & Strategy 2026 We began the development of this Vision & Strategy 2026 prospects for London as a great global City, whatever through the implementation of their School or by engaging with staff, students and stakeholders back our future relationship with the EU at national level Professional Service Strategic Plan; in mid-2015 and have revisited and thoroughly tested the and the networking of London-based institutions offers • Collaborative – a place where successes are shared underlying assumptions following the outcome of the EU great potential. The tremendous strength of London as and problems are solved by working together for the referendum. Undoubtedly implementation of the Vision a centre for higher education is not fully realised and common good; & Strategy 2026 will require even greater agility from City joining in partnership with the University of London • A Community – a place where people have pride City than it has shown over the past five years. City’s marks a significant milestone in that continuing journey. in their institution, are respectful, know and are great internationalism and its London location will be concerned for each other; enormous strengths during the uncertain times to come. Following the outcome of the EU referendum we know the external environment will change over the next five • Diverse & inclusive – a place where diversity is a Looking back to 2011, when we set to work on the to ten years far more rapidly than it has over the period strength and inclusiveness is promoted proactively, Strategic Plan 2012 to 2016, City aspired to be the only of our Strategic Plan 2012 to 2016. City’s students, with an initial focus on gender equality as City’s most university in London both committed to academic staff and stakeholders were more than equal to those pressing challenge; excellence and focused on business and the professions. challenges and I have every confidence that we will • Organisationally self-confident – a place that At that time, the need for change, the urgency of that achieve even greater success over the coming decade. knows its strengths and is open about and strives to change and fortunately, its direction were very clear. address its weaknesses. We defined where we were in terms of quantitative Achieving the outcomes set out in this Vision & indicators, decided where we wanted to be and swiftly Strategy 2026 will position City well within the top During the next ten years we will maintain our developed and implemented our Strategic Plan 2012 300 universities in the world and the top thirty traditional purpose and will both increase the quality of to 2016 to take us there. This involved investment in the country. all we do and grow (i.e., become ‘better’ and ‘bigger’) in in outstanding academic staff from around the ways set out in this Vision & Strategy, while increasing world; revitalisation of our estate; renewal of our our emphasis on people and partnership within and infrastructure; and changes to our ways of working. beyond City. Professor Sir Paul Curran President City, University of London 4 City, University of London Vision & Strategy 2026 5 City, University of London: A leading global university committed to academic excellence, focused on business and the professions and Vision located in the heart of London. 6 City, University of London Vision & Strategy 2026 7 City became an independent member Our new of the University of London on chapter 1st September 2016 2016 is also the year that City joined the University of 2016 is a significant milestone in City’s long London, marking a significant and exciting new chapter and proud history and marks 50 years since in our history. It is a major opportunity but also a signal of how far we have come as an institution historically and we were granted a Royal Charter and City in more recent years, through implementing our Strategic Plan 2012 to 2016. We will retain our historic strengths, University London came into existence, with professional credibility and deep-rooted City of London the objective to ‘advance knowledge, wisdom heritage while we strengthen our international profile and expand our research and education capabilities in and understanding by teaching, research and the ways set out in this Vision & Strategy 2026. professional training, particularly in science Of all our achievements though, perhaps the most and technology’. challenging has been to enhance our academic performance while moving into surplus after seven years in deficit. Significantly we have doubled the proportion of our academic staff undertaking world- leading or internationally excellent research and increased the satisfaction of our students by more than any other university in the country. It is clear that City is still on a transformational journey but real progress has been made over the past six years and implementing the Strategic Plan 2012 to 2016 has created a strong platform for the next stage. Looking ahead, the fact that investment has been funded without recourse to market borrowing places City within a very small group of UK universities with the capacity to raise significant investment funding. That opens tremendous opportunities for the next five to ten years but also carries greater risks and makes the need for sound financial performance an imperative. This Vision & Strategy 2026 will provide continuity with the Vision 2016 and reaffirms our: • Continuing commitment to academic excellence • Focus on business and the professions • Location in the heart of London. To build on our position as the only Higher Education institution in London committed to academic excellence for business and the professions will require focus and dedication. City’s academic strength comes through its distinctive Schools and our approach relies on us continuing to deliver outstanding education and research through our School Strategic Plans. Our shared Vision is designed to enable City’s Schools to succeed. 8 City, University of London Vision & Strategy 2026 9 Working together, we will retain our unwavering focus on quality, grow where we can maintain our quality and build on our partnerships within City, Strategy within London and across the world. 10 City, University of London Vision & Strategy 2026 11 Our Strategy Achieving the Vision is based on three strategic How we will work towards our Vision priorities: Maintain quality trajectory (‘better’). Build on the quality focus of the Strategic Plan 2012 1 to 2016 and maintain City’s current upwards trajectory in research intensity, research quality, education quality and student experience more widely. Further improving quality will remain vital to our success and is what drives the people Better1 who work at City and attracts the students whose lives will be enhanced through their Maintain quality trajectory time here.