Strategic Plan: Tennessee Education Lottery.
The Tennessee Education Lottery (TEL) is a provider of affordable entertainment for the residents of Tennessee and its visitors. The purpose of the TEL is to raise funds for scholarships for Tennessee students. The company is less than two years old, and the creation of a strategic plan will aid in achieving continued growth and prosperity. The following pages detail a five-year strategic plan that covers the period 20XX to 20XX. Such a plan will enable executive leaders to identify risks, opportunities, and other factors pertinent to reaching its organizational goals.
The Tennessee Education Lottery Implementation Law created the TEL in June 2003. This act made appropriations for the implementation of a state lottery, including annual events authorized by the general assembly and lottery related operations and programs for an indefinite period of time. The corporation is a body, politic and corporate, and a quasi-public instrumentality, and not a state agency or department.
The TEL is deemed as acting in all respects for the benefit of the people of the state through operation of a state lottery, and in the performance of other essential public functions entrusted to it (Public Chapter 297).
The creation of the TEL forged an avenue to raise funds for scholarships for Tennessee students. Additionally, profits provide funding After-School programs across the state. With ticket sales beginning on January 20, 2004, the corporation surpassed the initial goal of $88 million for fall 2004 scholarships. The TEL transferred ore than $123 million for education programs, and more than $2 million for after school programs after just five months and 12 days of ticket sales (www.tnlottery.com). Because of its' record-breaking success, the State of Tennessee and the TEL have also provided funds for 300 new Pre-Kindergarten classes across...