Initiatives for the Global Recession - Term Paper Example

«University of Bradford Strategies and Initiatives for the Global Recession» Table of Contents Introduction………………………………………………………………………………..2 Literature Review………………………………………………………………………….4 Frame Work……………………………………………………………………………….5 Research Methodology…………………………………………………………………..11 Interview Surveys………………………………………………………..11 Hypothesis……………………………………………………………..…12 Samples……………………………………………………………......…13 Regression………………………………………………………………..13 Risk Assessment…………………………………………………………13 Expected Results…………………………………………………………………………13 Conclusion……………………………………………………………………………….13 References………………………………………………………………………………..15 Introduction The current conditions in the global environment, specifically in regards to the economic downfall, have also changed the outlook of several industries. Educational outcomes are some of the areas that are re-looking the strategies and concepts linked specifically to economic changes and trends (Soubbotina, Sheram, 7). The University of Bradford is one that is required to respond to the global economic crisis, specifically because of the implications of how this will affect the educational programs and system. The requirement for the university is to implement and change strategies for the Internationalization program within the school to overcome the main problem. The ability to initiate a new plan through a market structure can provide the University with new approaches and opportunities to expand in the market of education while responding in a positive manner to the current global crisis. The problem which is currently a part of the University of Bradford and the international program is seen with the change in demands for the university at an international level. In general, the international demands for universities in slowed down dramatically from 2008 – 2009. It was predicted that this was directly attributed to economic problems and would continue to impact the economy with long – term implications. At the same time, universities are interested in offering foreign students more places within a university, specifically because the diversity is needed in the classroom. More foreign enrolment also provides more options for funding and growth within a college setting. The drop that has occurred is at 2% for graduate students and 6% for undergraduates. However, specific countries have a slight increase in the number of students coming to the United States for education. For instance, China had a total of 47,035 students enrolled in college. For the country, there was an increase of almost 6% in demand for international students. The same percentage came from India, which had a total of 34,065 students enrolled in UK colleges (UKCISA, 1). Table 1 shows the difference in percentage between countries. Table 1: Percentage in Demand for International Students in College Top 10 non-EU senders 2008/09 2007/08 China (PRC) 47,035 45,355 India 34,065 25,905 Nigeria 14,380 11,785 Malaysia 12,695 11,730 United States of America 14,345 13,905 Pakistan 9,610 9,305 Hong Kong (Special Administrative Region) 9,600 9,700 Canada 5,350 5,005 Taiwan 5,235 5,615 Saudi Arabia 5,205 3,535 (UKICSA, 1). This graph shows where the main impact is with international students as well as where the increase, decrease and demand is for students. The implications of the percentage changes and the decreased demand for international students become important because of the impact that foreign students make on universities and colleges. The concept of diversity in the classroom as well as the international percentages makes a difference in the attractiveness of a program. If students see that the foreign attendance is higher, then an assumption of the impact of certain programs is also understood. Most students find this as an attractive component of universities and colleges. More important, the need to support foreign students within a school setting offers universities with more funding resources. Grants, scholarships and other forms of monetary support are provided specifically by the number of international students in the school (Avila, 121). The problem addressed for the University of Bradford implies several components. The first is based on the current internationalization program in the school. The current program has an average of 22% of international students at the school from over 110 countries. An international office has been created specifically for the students and is one of the top offices in the country. Visa options, specialized visa extensions and specific focuses on making international students comfortable are the main objective (University of Bradford, 1). However, the economic downturn is also creating a need for the University of Bradford to respond by expanding the program. The current reputation of having foreign students is a driving force of the university. If this continues to decrease with the economic downturn, then long term implications will also occur, which will harm the overall reputation of the university and some of the noted programs it has. This research paper will examine the problems with the economic downturn and the decrease in demand for foreign students. More important, it will provide an analysis of the trends in the market that the University of Bradford can use to boost the international program in the school and to create a wide reaching impact that continues to remain attractive to foreign students. Literature Review Frame Work The literature review will examine the specific components that have changed the global economic crisis for universities. This will first be defined by the definition of the global economic crisis and what it includes. The literature review will then identify the social impact of the economic crisis, specifically with attitudes toward those that are interested in higher education. The defining point will be furthered by an examination of the specific shifts in education and higher institutions at a global level. These defining points will provide a basis for how the University of Bradford can implement changes that are a part of the initiatives for the international program. Basis of the Global Economic Crisis The global economic crisis is one that began in the United States because of changes in the real estate market in 2007 then moved to countries such as the UK. The lower of demand and higher prices led to a macroeconomic impact that reached retail and corporations as well as other places of demand within the country. As this continued to emerge, it began to create direct links to other countries that were working with the economy of the UK and US, specifically because of dependencies on export and manufacturing. The global market and downturn was known to affect a variety of countries with a lack of resources and monetary funds that were provided to each area. However, other areas built resilience to the economic down turn. For instance, the economic structure of China was able to continue to transition and thrive despite the changes. In general, the steady growth within the Western market, as well as from other countries, began to diminish with fundamental operating powers not being able to function with the changes from global capitalism (Castells, 12). The changes in the economic crisis not only began to impact different countries through the capitalist structure which had intertwined with the main regions. The current problem is one that is deeply rooted and continues to make an impact on the economy because of the systems and structures which are affected by the main structure (Phillips, 2). Structural flaws in financial systems, financial holdings, government bailouts and interventions are all adding into the complexity of the financial crisis. There is a realization that to overcome this particular problem, there is the need to create a new financial architecture and to rebuild the trading system with other countries in an alternative manner. More important, the deeply rooted problems from capitalist structures are being re-examined for those that are looking into the financial market (Crotty, 563). Social Impact of the Global Economic Crisis The impact of the financial changes is one that is not only important in defining the global economic crisis. Social implications and attitudes also follow this within the market, creating a different effect on the trends and expectations from various cultures. The repercussion that occurs begins with the governmental trends that create imbalances within each country. Governments are forced to leverage and balance the economy with different trends and conditions to stop problems with corporate relations and the inflation that occurs. For most living in each country, this creates a change in lifestyle that is more instable and which is vulnerable to the conditions not only within the market, but also in other aspects of life. The complexities of this begin to accumulate as lifestyle changes and the fluctuations with policies create attitudes and responses directly associated with the economic crisis and the countries which have financial liability to the changes which have occurred (Obstfeld, Rogoff, 7). As the lifestyle reforms continue to change with government policies and fluctuations in the economy, are also social attitudes which begin to emerge. Social unrest becomes a main component of each of the nations, with the focus on building lifestyle stability within the economy. Those within a foreign society will also begin to create attitudes and social responses to the areas which are experiencing the global downfall, specifically because of the beliefs toward economic vulnerability. The attitude of vulnerability during a crisis and transition point that affects lifestyle and policies then begins to affect the overall attitude one carries about a nation and the systems which are intact. The desire to be a part of the programs and concepts of the nation begin to diminish while most will try to find different levels of stability within their own nation as a main benefit (Smith, Swain, 30). Educational Shifts in the Global Economic Crisis The educational sector is one that is noting a change in demand and shift with those who are interested in coming to the UK for higher education. From one perspective, it is becoming more essential to have resources in different economies, specifically through human capabilities and higher educational means. The information age is the one that is currently predicting the changes that are a part of society. The demands of this age are focused on higher education which initiates skilled labourers in areas of computer technology, knowledge based production and forms of organization that are more flexible (Welch, 433). The techno – economic paradigm is the main concept that is becoming a main agenda of those that are within society. However, students that don’t come to a different country to receive the education are typically responding to the understanding that getting a college education in the area won’t lead to sustainability. Lower wages, poorer working conditions and a lack of demand in the market are some of the implications of the global economic crisis and the need to receive a specific type of education in the technology age (Dehli, 72). The global economic crisis and the changes in demands are also changing higher educational institutes because of the need to create transitional economies that move across the globe. Most regions of the globe are recognizing that the information age as well as the transitional economies can be strengthened through higher education. The establishment has led to reinitializing stable programs in education between countries. Most students are no longer trying to find the economic countries which are more stable to have an education. Convenient means, effective programs and training that provides more opportunities in the information age are the newest trends. To do this, standards within education have become the main focus, combined with recognition of how the training programs can assist in an individual contributing to a global system (Bennell, Pearce, 215). The change in focus for students in higher education toward a global economy also initiates changes within the programs in the UK toward education. Global competitiveness is now becoming an agenda not only within industry but also within education. Pressures to develop countries with different means while reaching new levels of information and industrialization are the focus of institutions (Marginson, 30). Those that are living in a foreign country are looking into policies, structures and implementation of programs that can best benefit the country by creating a different global economic environment. The competitiveness in each environment is further being measured by the human resources and development which can be provided. Since the UK has gone through the global downturn, there isn’t the ability to offer the same components to long term prosperity. Training and education has now reached a different mentality among foreign students in using the methods of UK schools to assist with the change in development for their home country (Schwab et al, 3). The concept of creating competitive marketplaces for higher education has been directly impacted by the reputation from the global economic environment as well as the implementation of new competitive markets for education. Educational reforms since 2006 have been based on increasing the level of global competitiveness in the market. The focus is to provide the most up to date technologies, programs and training initiatives within the educational workforce. When this aim is achieved, human resources can move into the community to provide sustainable development from the education received. Countries are initiating harder programs, legitimate universities and educational programs which are more prestigious and recognized. As the role of education changes on a global level, are also new factors for competition that are a part of higher education. The change is leading to a global reform for education as well as a new level of competition for universities to compete at an international level, specifically by providing values, characteristics and performance within the global market. The promotion that is met on the other side then is based on the ability to create knowledge – based economies that have increased standards for learning (Sahlberg, 259). Tactics that are being used to create global competition with the educational reform are based on policies and procedures used within institutions. This is followed by embracing the trends that have risen since the global economic crisis to move students into an area that shows they can offer more within their own country for global competition. The concept of contributing to the new economy is the basis of the educational initiatives with policies that are now focused on global standards for education. The trends as well as the competition within higher education institutions is being revitalized in each country, specifically for integration of global systems, information based careers and competition within the economy. Since the economic downturn, most students are likely to stay within their own region to receive the same standard of education that is now in a competitive work force (Robertson, Keeling, 221). Another trend that is continuing to emerge because of the global economic crisis is based on student attitudes and trends within each society. Students are now more mobile than they were before. Instead of carrying the outlook of going to a prosperous nation for higher education, there is a change in attitudes based on the educational trends and training available. The mobility of students is leading most to find universities at a global level which are more conducive to their interested field of study and career (Altbach, 18). Students are most likely to go to places which carry higher outputs within education in all areas, including economic, artistic and technical. The reputation of different countries and higher education institutes leads to the enrolment activities. More important, the integration of national goals are more likely going to attract students as there is a new understanding that the policies of the nation affects the available educational means and functions which they are under. The transformation which is now occurring requires educational institutes to re-examine the demands in information and communication as well as attractiveness of schools for global competition (Guruz, 5). Research Methodology Since the global economic crisis, the University of Bradford is faced with different opportunities, trends and market initiatives that need to be taken. The agenda is to now learn how to compete in the global market by looking at the trends in the market as well as the attitude of international students when choosing a school. Tapping into the concept of economic freedom, which is a part of the trends, as well as social stigma surrounding the concept of higher education, can create a stronger market for those that are interested in tapping into the global workforce of students (Gwartney, Lawson, Hall, 118). Interview Surveys The research provided will examine what the trends are at the University of Bradford as well as how new objectives can be initialized for expansion of the international program. The questions asked will include: How has the global crisis impacted the foreign relations at the University What are the current trends and social responses to programs How have students responded with new expectations for the programs involved What are the strengths and weaknesses of educational programs to attract students to the school What marketing initiatives worked effectively in attracting foreign students Currently, the University of Bradford has an enrolment of 22% of foreign students. The demand that is still a part of the higher education system will be used as the basis for the study. Interview surveys will be given to each of the students to examine the attitudes about the school as well as the main reasons that the school was chosen. The examination of the interview surveys will depict the strengths in the international program currently as a part of the University of Bradford as well as the weaknesses that are currently a part of the system. The main objective will be to determine the main trends and attitudes as well as how these can be enhanced through the systems established for international students. The interview surveys will be followed with a comparison to other attitudes of those who are not a part of international programs in the UK. General literature review examinations will be compared to the interview surveys to determine what the competitive forces are in other schools. This will be determined by finding the top rated global schools for higher education. Trends in the programs, demands by foreign students and policies of the school will be examined as a part of the interview. Through this examination, there will be an overall understanding of how the students are responding at an international level to the global economic crisis while changing the social trends in higher education. Hypothesis After examining these two components, comparisons will be made of the interview. The hypothesis of the surveys will state that the main initiatives of students in choosing a school will be based on the accommodations of students to the school as well as the ability to meet the demands of programs through effective training courses in the educational programs. The hypothesis will also show that the current trends with schools is based on the ability to initiate programs that ensure a student will find a place in the global work force with the information age components. Regression Analysis and Risk Assessment The interview surveys conducted will be compared with a regression analysis. This will compare the answers of each of the individuals and will define the main components of the programs. The information provided through the regression will show what the strongest trends are, dependent variables on these trends and what the weaknesses of the school are. The interview sample can then provide a general risk assessment which determines the ways that the university needs to change to initiate more change and opportunity within the school based on the current marketing trends. Expected Results The interview survey and analysis will be streamlined with the new trends that are a part of the market. The global recession is one that will show a basis in how students respond to different programs by the need to have specific skills for the information age. The demands that are continuing to bring in foreign students will show that specific training programs in the school are still competitive at a global level while others are causing the international program to drop in size. There will also be an understanding of how the values of different students in the school are creating a different focus and set of initiatives to compete at a global level. Conclusion The need to move into a global market place within higher education is one of the main components for those that are in the competitive market. The University of Bradford is one of the higher education institutes that understand how the change is impacting those that are in the market. The global work force is building new policies, perspectives and agendas that are incorporating the concept of working within a global marketplace with the competition of higher education institutes, specifically to meet new levels of productivism to remain as a competitive work force in the changing environment (Holliday, 28). The competition is being furthered by new trends and social attitudes toward education. The social attitudes are based first on the policies and reforms that have occurred because of the global recession, specifically which have affected lifestyle and attitudes. These are furthered by concepts related to global development which is creating a different level of competition within higher education, specifically based on training and development. For the University of Bradford to initiate higher responses at an educational level there is the need to match the new competitive workforce and the concepts that are associated with the main changes and trends in higher education. References Altbach, Philip. “Higher Education Across Borders: Can the United States Remain the Top Destination for Foreign Students?” Change: the Magazine of Higher Learning (36), (2), 2004. Avila, Jocelyne. “The Internationalization of Higher Education: A Paradigm for Global Citizenry.” Journal of Studies in International Education (9), (2), 2005. Bennell, P, T Pearce. “The Internationalization of Higher Education: Exporting Education to Developing and Transitional Economies.” International Journal of Educational Development (23), (2), 2003, Print. Castells, Manuel. End of the Millennium: The Information Age: Economy, Society, and Culture. New York: Wiley, 2010, Print. Crotty, James. ‘Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture.’” Cambrdige Journal of Economics (33), (4), 2009, Print. Dehli, Kari. “Subject to the New Global Economy: Power and Positioning in Ontario Labor Market Policy Formation.” Studies in Political Economy (41), 1993, Print. Guruz, Kemal. Higher Education and International Student Mobility in the Global Knowledge Economy. New York: New York Press, 2008, Print. Gwartney, James, Robert Lawson, Joshua Hall. Economic Freedom of the World: 2009 Annual Report. New York: CATO Institute, 2009, Print. Holliday, Ian. “East Asian Social Policy in the Wake of the Financial Crisis: Farewell to Productivism?” Policy and Politics (33), (1), 2005 Print. Marginson, Simon. “Dynamics of National and Global Competition in Higher Education.” Higher Education (52), (1), 2006, Print. Obstfeld, Maurice, Kenneth Rogoff. “Global Imbalances and the Financial Crisis: Products of Common Causes.” Social Science Research Network, 2009, Print. Phillips, K. Bad Money, Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism. New York: Penguin Group, 2009, Print. Robertson, Susan, Ruth Keeling. “Stirring the Lions: Strategy and Tactics in Global Higher Education.” Globalization, Societies and Education (6), (3), 2008. Print. Sahlberg, P. “Education Reform for Raising Economic Competitiveness.” Journal of Educational Change (7), (4). Schwab, Klaus, Sala-i-Martin, Jennifer Blanke, Margareta Hanouz, Irene Mia, Theirry Geiger. The Global Competitiveness Report: 2009 – 2010. New York: World Economic Forum, 2010. Print. Smith, Adrian, Adam Swain. “The Global Economic Crisis, Eastern Europe, and the Former Soviet Union: Models of Development and the Contradictions of Internationalization.” Eurasian Geography and Economics (51), (1), 2010. Print. Soubbotina, Tatyana, Katherine Sheram. Beyond Economic Growth: Meeting the Challenges of Global Development. Washington DC: World Bank, 2000, Print. UKISA. 2010. Higher Education Statistics. Retrieved from: http://www.ukcisa.org.uk/about/statistics_he.php. University of Bradford. “International Students.” University of Bradford 2010, Web. Welch, Anthony. “Going Global? Internationalizing Australian Universities in a Time of Global Crisis.” Comparative Education Review (46), (4), 2002, Print. Appendix A Determining the way in which businesses can retain employment requires plans, strategies and specific tactics. There is not only the need to develop proponents of market research to attract customers to a business through new trends in society. There is also the need to actively initiate different ways to get employees within a business to remain motivated while they complete specific types of work. After finding the main trends for customers in a business, is the need to create specific campaigns and marketing changes that will alter the way in which customers respond to a business. The main way to move forward with more customers in a business is to combine the incentives with a sales force that understands how to get more consumers interested in a product or service. Using motivational factors with the sales force will initiate stronger responses from customers and can provide higher options for growth within the corporation. To do this, there is the need to create different plans and organizational structures that initiate change and growth. An effective method to increase the marketing and sales to attract customers is to create an organizational structure which has incentive plans. The incentives are known to help in highly competitive markets and can develop organizational success through employee satisfaction. As incentives increase among employees, sales will also increase. If the profit decreases, it is said to relate directly to the incentives and initiatives that are a part of the corporation. Understanding the extent to which the organization profitability increases or decreases based on the incentive plans can further measure how to approach the marketing and sales plan. To completely understand how the incentive program works, is the need to examine different components that motivate employees or which create different responses. People behaviour, operations and finances are the three main forces that change the incentives as a motivational force as well as the profit that increases as a result. The understanding of how incentive schemes, employee motivation, sales and profitability all affect each other can further be examined with specific initiatives for the program. The understanding is that the incentive program has a positive effect on employee behaviours and growth of the corporation while sales increase continues to motivate employee behaviours. However, high bonuses have a negative effect on profitability because it may decrease after the bonus is received. Understanding how each affects the next in a positive or negative manner can provide a deeper understanding of how to initiate an organizational structure for marketing and sales. Examining the incentive programs, marketing workforce and the way in which different factors affect the other can provide a strong basis for the marketing program in any organization. By combining this with the marketing trends in society, specifically for those that are interested in the specific products or services, there can be substantial change the effectiveness of creating an appeal to the business. Read More