Tax Executives Institute, Inc.: vision 20/20 strategic plan: itinerary for the future.

Approved: June 14, 2012

Background

Tax Executives Institute's last strategic plan was developed nearly 15 years ago and the tax policy and administrative environment, financial reporting rules, the in-house corporate tax profession, and the Institute have all changed significantly. To ensure that the Institute remains the preeminent association of business tax professionals worldwide, TEI appointed a task force (the Vision 20/20 Task Force) in September 2011 to develop a strategic plan defining the ideal TEI for the next 5-10 years. TEI enlisted the facilitation assistance of Stephen C. Carey, Ph.D., CAE, Lead Strategist from Association Management & Marketing Resources, a strategic planning firm that focuses on strategic and alternative future planning in the nonprofit, professional, and trade association community. The Task Force conducted a variety of research, held three facilitating brainstorming and planning sessions, and developed this strategic plan, which was approved by the Institute's Board of Directors on June 14, 2012.

To ensure the strategic plan was based on quantifiable data, the consultants gathered information in the fall of 2011 through surveys, interviews, and focus groups, of both member and nonmember stakeholders. The Task Force held in person meetings on November 11, 2011, March 8, 2012, and May 22-23, 2012, to review the data and work with the consultants to develop the fact-based strategic plan contained in this document.

Rather than necessitating significant changes to the Institute's current activities, the research and associated analysis and planning processes confirmed that TEI remains focused on the issues of greatest importance to its members. For example, the statement of the Institute's vision is almost identical to one created as part of TEI's 1999 strategic plan. That said, the changed business environment--including specifically the growing globalization of business (as well as tax policy, tax administration, and tax compliance and enforcement activities) and availability of myriad technology-based tools--necessitates adjustments in order for the Institute to remain relevant and responsive to the needs of in-house tax professionals.

Task Force Members

Co-Chairs

David Penney (Toronto Chapter)

TEI International President

Carita Twinem (Wisconsin Chapter)

TEI Senior Vice President

Members

Clive Baxter (EMEA Chapter)

Rodney Bergen (Vancouver Chapter)

Daniel Goff (Santa Clara Valley Chapter)

Paul O'Connor (New England Chapter)

Mitchell Salamon (New York Chapter)

Katrina Welch (Dallas Chapter)

Rita Makaris (Chicago Chapter)

Helena Klumpp (Chicago Chapter)

Terilea Wielenga (Orange County Chapter)

Catherine Stevens (Chicago Chapter)

Mark Silbiger (Cleveland Chapter)

Charles (Sandy) Macfarlane (San Francisco Chapter)

Staff Resources

Timothy McCormally, TEI Executive Director

Eli Dicker, TEI Chief Tax Counsel

Daniel De Jong, TEI Tax Counsel

Methodology

The Task Force used the following methodology in creating the strategic plan starting with the base research at the bottom of the triangle and then working from the development of Core Values and Purpose elements down to Priority Objectives and Tactical Initiatives:

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The methodology used involved a research component consisting of in-depth interviews with members and key outside stakeholders, focus groups, formal on-site staff interviews, quantitative summary research (i.e., a membership satisfaction survey), an environmental and web-based scans, and 20 hours (over three days) of in-person facilitation with the Task Force to review research materials and develop the strategic plan. The following specific planning elements were used in the TEI strategic planning sequence:

Phase I--Pre-Facilitation Work

* Interviews & Focus Groups with Task Force, Key Volunteers, Members & Staff

* Website Comment Solicitation from Members and Visitors

* Environmental and Web Scan--Discovering Key Trends and Issues

* Quantitative Survey (Membership Satisfaction Survey) Phase II--Strategic Planning Research Facilitation

* Review of all Research by Task Force

* Constructed Key Issues List for Plan Construction

Phase III-Task Force Meeting to Develop the Plan

* Conduct of an "Alternative Future Scenario" (Worse Case) Exercise

* Review and Set Organization's Values

* Discuss the Core Purpose Elements

* Set the Vision and Mission of the Organization Going Forward

* Review and Development of Goal Areas and Prioritized Objectives

* Discuss Metric Evaluation Criteria and Next Steps for Tactical Initiative Development

Phase IV--Plan Build-out

* Team, Committees, and Staff Review of Key Objectives and Create Tactical Initiatives

* Development of the Business Plan and Work Plans

* Review of Plan Progress and Periodic Tune Up

TEI's Vision, Mission, and Goals

Vision

Tax Executives Institute is the preeminent association of in-house tax professionals worldwide.

Mission

Tax Executives Institute serves its members and their employers through education, networking, and advocacy in the following goal areas:

Goal Areas

1. Education

2. Advocacy and Government Liaison

3. Global Operations and Initiatives

4. Marketing, Communications, and Public Relations

5. Membership Recruitment, Retention, and Networking

   E Chapter Development and Relations

7. Governance and Management

   Goal Areas are "wide guidance paths" created in each of the functional areas in association management that lend general direction to the planning team, allowing them to create...