Swot Analysis for School Financial Management

SWOT ANALYSIS FOR SCHOOL FINANCIAL MANAGEMENT ABSTRACT One of the sources that directly supports the management of education so that it runs effectively and efficiently is finance or financing. In the implementation of education, finance and financing are inseparable things in education management and must be managed properly so that existing funds can be used as well as possible to achieve educational goals. Schools must utilize existing funds according to school needs, because in the world of education it is often faced with the problem of limited funds. Seeing this, a financial and financing management strategy is needed using a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats). This research uses descriptive qualitative method with data collection techniques of documentation study. The results of this study are in the form of strategies for financial management and financing in schools so that they can be used optimally. INTRODUCTION One of the management processes carried out by the school is management in terms of school financing. Of course, in the implementation of school activities, operational costs are needed, and as a principal must be able to optimize as much as possible so that the school he leads can achieve the expected goals. One of the abilities that must be possessed by a school principal is to be able to manage school finances and financing and the strategies used to organize school budget work plans. The education financing standards as stipulated in Government Regulation Number 19 of 2005 are standards that regulate the operational costs of education units that are valid for one year consisting of investment costs, operational costs, and personal costs. In improving the quality of education, the government has pursued many strategies, for example through financing the School Operational Assistance Fund (BOS), Regional School Operational Assistance (BOSDA), Education Operational Assistance (BOP), and so on, as well as RAPS as a financial management of a school institution. As for the definition of strategy proposed by James Brian Quinn (2002), strategy is an incremental approach, namely: a pattern or plan that integrates the main objectives, policies and sequences of organizational actions into one in a cohesive whole, a pattern of decision making shaped through strategy, can mobilize and direct all organizational resources effectively to the realization of the organization's vision. Finance and financing are one source that directly supports the effective and efficient management of education. The financial and financing components are decisive in the implementation of learning activities. Therefore, this study will focus on financial and financing strategies in schools using SWOT analysis. DISCUSSION 1. Basic Concepts of SWOT Analysis SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) is one of the strategic management that can be used by an institution or company to conduct an analysis of the surrounding environment so as to determine the chances of success. SWOT analysis contains the strengths, weaknesses, opportunities, and threats of companies or institutions. These strengths and weaknesses refer to areas over which the company or institution can actively manage and control. While opportunities and threats refer to external factors that can be influenced by companies or institutions indirectly. SWOT analysis provides a detailed picture of the external situation by analyzing the environment in which it operates. This allows the company or institution to take advantage of its opportunities and address its threats. The company or institution must make the best use of its strengths and pay attention to its weaknesses. In order for a SWOT analysis to motivate a company or institution, it must be done in the right order. This can be done by highlighting strengths and opportunities. SWOT analysis can be used by a leader in making a policy where this policy will affect the achievement of the goals of a company or institution. Here is a picture of the relationship between strengths, weaknesses, opportunities, and threats. 2. Strategic Thing Strategic thinking is needed for a company or institution engaged in various fields. Before that, we will first discuss the strategy. Strategy is a plan that is prepared by paying attention to various related things regarding what must be followed by the company or institution in different situations, such as how the company's or institution's strategy in response to environmental changes or actions taken by others. Strategic is not just a step but a series of sequences and actions arranged systematically. In developing a strategy we must analyze the situation, environment, possibilities, and impacts that will occure. The strategy created must also be adjusted to the available resources. From this explanation we can conclude that strategic thinking is a systematic way of thinking that is oriented towards the future by paying attention to the situation, the surrounding environment, the possibilities that will occur, and the impact that will be caused and can utilize the available resources optimally. In an institution or company, strategic thinking is not only necessary for a leader or upper management but also employees or lower management. This is so that employees can understand and understand the instructions given by the leadership or upper management. 3. Financial Thing Financial thinking or financial intelligence is one of the basic abilities for an institution or company leader. Financial thinking can also be said to be a financial approach. By thinking financially, a leader can certainly manage finances well by paying attention to various aspects that can affect the finances of his institution or company. A financial thinker must understand the basics of finance. If a leader has good financial thinking skills, this will affect the cash flow of the company or institution. In an institution or company, The success of a business activity can be shown by the amount of money generated in the form of net cash inflows that can be withdrawn or used for future interests. Financial thinking focuses only on the cash flow generated. DISCUSSION 1. SWOT analysis for school financial management The process of financial management in schools includes: 1) Budget planning, 2) Strategies for finding sources of school funds, 3) Use of school finances, 4) Supervision and evaluation of budgets, and 5) Accountability. (Andiawati, p.5). Financial income and expenditure of educational institutions/schools are regulated in the School Budget Draft (RAPBS), matters related to the RAPBS include; Revenue (income/receipt), Use (spending), Liability (reporting). (Andiawati, p.5). In other words, the RAPBS is a school financial management plan. RAPBS is influenced by the mission and environmental factors of school education which are classified into the internal environment and the external environment. Thus, the SWOT analysis will be focused on preparing the RAPBS. The following are examples of internal and external factors at SMPN 1 Salatiga taken from Ririn T. E. Margareta &; Bambang Ismanto's (2017) article on School Financing Planning Strategies in Quality Improvement in State Junior High Schools. a. Internal School Environment ● Strenght: The school has canteens and cooperatives as other internal sources of income, Participation of employees (not managers) in the management of financing, Student participation in school financing. ● Weakness: Number of human resources who manage school financing, Financing for competitions, Financing for procurement/improvement of school facilities and infrastructure, Costs for teachers/honorary staff salaries. b. School External Environment ● Opportunities: Regular funding from Government and Local Government, Role of committees and parents (e.g. voluntary funding), Contribution / assistance from alumni. ● Threats: The role of the government in the procurement of civil servants, delays in the government and book publishers realizing the procurement of books Curriculum 2013 (K-13), Honor for teachers / honorary staff. 2. Results of SWOT Analysis of School Strategic Things As discussed earlier, strategic thinking is a plan that is prepared by taking into account various related things about what must be followed by institutions in different situations, such as how the institution's strategy in response to environmental changes or actions taken by others. So that the results of the SWOT matrix analysis of strategic thinking include; ● Forming an alumni group to raise funds to improve quality. ● Make a priority scale with the committee related to the competition to be followed, ● Mocommunicate school needs to the committee in order to improve the quality of education. ● Conducting training related to financing management for employees involved / seconded in managing finances, ● Socialize how to care for sarpras owned by the school. 3. Results of SWOT Analysis of School Financial Strategic Financial thinking means paying attention to various aspects that can affect the finances of an institution or company. So that the results of the SWOT analysis matrix on financial thinking include; ● Increase sales variants needed by school residents ● Submit proposals to alumni to take part in competitions, hold school sarpras, or teacher/honorary salaries, ● Optimize the assistance of employees (not managers) in managing financing. By knowing the school's internal and external factors on the management of the RAPBS, we can create a SWOT matrix that serves to help make decisions both by thinking strategically and financially. CONCLUSION SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) is one of the strategic management that can be used by schools as an institution to conduct analysis of the surrounding environment so as to determine the chances of success in managing RAPBS as school financial management. SWOT analysis can be used by a leader in making a policy where this policy will affect the achievement of the goals of a school institution by thinking strategically or financially. This way of thinking is used by looking at the greater weight or importance in the condition that strategic considerations or financial considerations are needed. The school is expected to have leaders and many professional human resources in managing school finances so that its management can run well and provide development to the school. As for suggestions for researchers, it is hoped that researchers can add other variables related to SWOT analysis with the aim of providing a broader picture related to research material.