Higher education institutions are under the microscope of public opinion. They are criticized for graduates lacking relevance in a dynamic, highly competitive job market; for the rising cost of a degree and burdensome student debt; for being slow to change and adopt new approaches and technologies. Institutions often respond to these challenges with strategic plans that are packed with familiar, antiquated methods and focus more on the planning process than the actual strategy. This results in a strategy that lacks innovation and has minimum market differentiation. Developing a clear, evidence-based strategic plan that is aligned with the mission and market position of an institution is critical for achieving short-term goals and long-term sustainability.