| Career Education Corporation (CEC) was founded in | | | | structure to current revenue levels. |
| 1994 and according to their own statement, has | | | | The year 2007 is seen as a year of transition, of |
| become one of the world's leading providers of | | | | Recognize, Redefine and Reach: "We were compelled |
| quality post-secondary educational services. Gary E. | | | | to the realities of the company's business situation, |
| McCullough is currently the President and Chief | | | | to how we will conduct business, and to set and |
| Executive Officer of CEC. | | | | begin to goals that will return CEC to its history of |
| Colleges, schools and universities form a "CEC family" | | | | delivering strong business results and solid shareholder |
| and offer high quality education to approximately | | | | returns." (1) |
| 90,000 students across the world in a variety of | | | | The annual report gives some insight in the business |
| career-oriented disciplines and label by different | | | | architecture of the company "building its reputation |
| brands. | | | | and external relationships by": |
| The mission statement: CEC is a global educational | | | | Employees, through increasing awareness, skills and |
| company committed to quality outcomes and career | | | | accountability |
| opportunities for a diverse student population. | | | | Schools: telling their stories |
| The value statement is represented by a circle with | | | | Alumni: connections and network |
| students and employees in the middle and formed by: | | | | Employers: meeting their needs and sharing successes |
| Integrity - Respect - Excellence - Social responsibility - | | | | Community: building partnerships and increasing |
| Diversity. Diversity is also what makes their mission | | | | involvement |
| statement unique. Diversity may mean a lot of | | | | Legislators: educating and listening |
| different things. For example offering opportunities | | | | Accreditors and regulators: enhancing relationships |
| for those who do not follow the normal career path. | | | | To achieve this, leadership is needed. According to |
| The educational program shows a strong practical | | | | CEC this resides in: vision, transparency and |
| orientation. | | | | accessibility. |
| The educational programs are career-oriented | | | | The company is listen on NASDAQ (Ticker CECO). |
| providing knowledge and skills to compete | | | | The last earnings data show a (negative) growth of |
| successfully in today's job market. There are five | | | | 18% over the last 5 years from 2004 (1.71 / 2.12 / |
| business areas: | | | | 0.97 / 1.01 / 0.77) to 2007 (2). |
| - CULINARY ARTS (12 percent of CEC students) | | | | To get an idea from its competitors, the following |
| - HEALTH EDUCATION (16%. Programs range from | | | | are mentioned on (page 1 of 4): |
| those with basic clinical skills to skill-specific programs | | | | - Tyco International, Ltd. |
| (like cardiovascular technology and radiology) | | | | - H&R Block, Inc. |
| - INFORMATION TECHNOLOGY (7%. Information | | | | - ITT Educational Services, Inc. |
| Technology programs are offered at all degree levels | | | | - DeVry Inc. |
| in both the University and Art and Design SBUs. | | | | - Washington Post Company (The) |
| Programs include computer programming, information | | | | - Strayer Education, Inc. |
| technology, networking, telecommunications and Web | | | | - Corinthian Colleges, Inc. |
| design.) | | | | - Weight Watchers International Inc |
| - BUSINESS (44%. Ranging from Business | | | | - New Oriental Education & Technology Group, |
| Administration and Marketing to Criminal Justice, | | | | Inc. |
| among others) | | | | - ManTech International Corporation |
| - ART AND DESIGN (21%. Enroll in Art and Design | | | | - Inergy, L.P. |
| studies, focusing on programs in the graphic, fashion, | | | | - Brink's Home Security Holdings, Inc |
| game and interior design fields). | | | | - Gartner, Inc. |
| The Industry shows a strong growth: The | | | | - Service Corporation International |
| post-secondary education (PSE) is a $315.5 billion | | | | - Grand Canyon Education, Inc. |
| industry market in North America (U.S. Departement | | | | - Coinstar, Inc. |
| of Education, 2001-2002) | | | | - American Public Education, Inc. |
| Enrollment in PSE programs is projected to grow | | | | - Inergy Holdings, L.P. |
| from 15.6 in 2002 to 18.2 million students by 2012. | | | | - Regis Corporation |
| Due to baby boom generation and increasing | | | | - K12 Inc |
| numbers of adults seeking higher education. | | | | This list shows that not all the mentioned competitors |
| Federal funding available to support PSE was | | | | are really rivals but cataloged as such (Gartner, Regis, |
| estimated to exceed $105 billion (2002-2003) | | | | WPC, etc) |
| Organizing wise CEC is focused on: Leveraging size | | | | (1) - - annual report 2007 |
| and scale, Increasing centralized activity, Sharing | | | | (2) - nasdaq. |
| resources among campuses and Aligning cost | | | | |