International Expansion Opportunities for the University of Auckland - Research Paper Example

International Expansion Opportunities for the University of Auckland India, Pakistan and UAE LETTER OF TRANSMITTAL Mr. Course Instructor, Global Business Operations Dear Sir, Please accept our Global Business Operations Report on the International Expansion Opportunities for the University of Aukland. This report is a direct application of the concepts of Global Business Operations course we have studied in class. We have conducted a detailed research on the possible destination for expansion of our organization to see how it could grow through expansion. We were able to gain insight to strategy building and the use of some of the management models which us some idea how an organization would implement an expansion programme. We are highly thankful for receiving the opportunity to work on a challenging assignment of this caliber. It was a pleasure working on this report, and we feel that the hard work put into this has paid off and increased our knowledge. Sincerely, Table of Contents LETTER OF TRANSMITTAL 1 Executive Summary 4 Introduction 5 Internal Analysis 6 External Analysis 7 Economic & Financial Environment 7 GDP 7 GDP per capita 7 FDI 8 Financial Stability 8 Inflation Rates 8 Interest rates 9 Political and Legal Environment 10 Political Stability 10 Open to Trade 10 Social and Cultural Environment 10 Corruption 10 Reference Groups 11 Family Roles 11 Resources and Technology 11 Resource Availability 11 Technology 11 Porter’s Five forces Analysis 12 Pakistan 12 The threat of the entry of new competitors 12 The intensity of competitive rivalry 12 The threat of substitute products or services 12 The bargaining power of suppliers 13 The bargaining power of customers (buyers) 13 India 13 The threat of the entry of new competitors 13 The intensity of competitive rivalry 14 The threat of substitute products or services 14 The bargaining power of customers (buyers) 14 UAE 15 The threat of the entry of new competitors 15 The intensity of competitive rivalry 15 The threat of substitute products or services 15 The bargaining power of suppliers 15 The bargaining power of customers (buyers) 15 Selection of location 16 Expansion in Pakistan 16 Objectives 16 Organization’s Strategy 16 Marketing Mix 16 Market Segmentation 17 Entry Mode 17 Conclusion 18 Recommendations 19 References: 19 Executive Summary In this report I have researched over three countries which includes India, Pakistan and UAE and analyze its performance in order to judge the opportunities for an expansion of the University of Auckland. Firstly we have done an Internal Analysis and see what are the strengths of the University and its unique selling point. The External Analysis is done of all the three countries in which we see the Economic and financial environment, Political and legal environment, Social and cultural environment, and Resources and Technology. Then we did Porter’s Five Forces analysis to see which countries has the better opportunity to expand into. After analyzing we decided to expand into Pakistan for various reasons which are also mentioned and then we come up with an Organizations strategy which should be followed during expansion. The Marketing four P’s and segmentation is also done. Then we concludes are research with some recommendations. Introduction Since the trends are changing and now more and more companies, organizations and institutes go global, there is a need to expand. Similarly, the University of Auckland also need to expand in the International market in order to reap the benefits by entering into markets where there is a potential or the markets are mainly untapped by International Universities. The University of Auckland was opened on 23 May 1983 as Auckland University College and it was part of University of Newzealand. A courthouse which was not in use and a jail served as the premises for the 95 students and 4 teaching staff. The students enrolling started to increase slowly and gradually and it reached 156 students by 1901. Most of the students were part time, although after 1905 the number of commerce students increased markedly. During this time, the University focused more on teaching rather than on research although many students came up with impressive research most notably in chemistry. A surge of interest in research work started during early 1930s. For instance, a group of students, led by James Bertram, established a new literary journal, Phoenix, which became the focus for the first literary movement in New Zealand history. The University got more recognized as internationally respected research institution when in 1934 four new professors arrived i.e. H.G Forder (Mathematics), Arthur Sewell (English), C. G. Cooper (Classics) and James Rutherford (History). The 1950s era was a difficult time for the University due to World War II but still there was significant progress. In 1962, the abolition of the University of New Zealand saw the University finally become independent. New subjects were introduced and more staff was doing research by now. The University undertook a massive building programme, and was transformed as one large building. New teaching subjects were introduced, including Political Studies, Art History and Sociology, and in 1968 teaching commenced in the new Medical School. By 1970, there were 9300 students. Council focus shifted to a desire to increase student facilities, which ultimately resulted in the acquisition of a theatre, a large gymnasium and recreation centre, and a playing field complex. The University was also quick to accept the challenges of new technological advancements of the era, introducing new subjects such as Management Studies and Computer Science. By 1986, students reached 13,000. New campus made at Tamaki offering courses in commerce, arts and sciences. Also completed the new School of Music in 1986 and the Marae complex in 1988. Internal Analysis The University of Auckland provides its students with quality courses which gives an edge over other institutes It has built excellent reputation and trust with the students over the years resulting in a partnership It has the ability to hire local professors as well to build a staff force combing the local as well as the existing staff members into the expanding market Provide courses according to the local market needs Imparting knowledge which will provide the students to excel more in their careers For these reasons expanding into South Asian market and Middle East will give the University of Auckland a greater chance to expand. We have taken India, Pakistan and UAE for analyzing the potential within these markets and then to select a suitable destination for expansion. As these markets have very few International Universities, they require such institutes to setup and impart quality knowledge. These countries demand that there students learn to speak better English so they could compete in the International markets and the multinationals operating within their countries. This is the basic reason why Western Education will be preferred above the local Institutes and Universities. External Analysis In this section we analyze the Opportunities and Threats for expansion into the 3 countries we have chosen. Economic & Financial Environment GDP Year 2008 2009 Pakistan GDP (billion $) 164.54 166.55 India GDP (billion $) 1159.17 1296.09 UAE GDP (billion $) 161.46 199.0 We see that Pakistan’s GDP is 0.27% of the World’s Economy according to the World Bank. It has grown by 2.0% over the last Quarter. It has suffered from political disputes in the past, population is growing at a fast pace, the foreign investment levels has been mixed and confrontation with the neighbor country India. Whereas, India’s GDP is 2.09% of the world’s economy. Its GDP has grown by 8.6% over the last Quarter. Its economy has a lot of diversification including farming, handicrafts, industries and services. Services sector has the most share in the output of Indian economy. UAE has a GDP of 199 billion dollars which constitutes 0.32% of the world economy. Its GDP has grown by 23.25% over the last quarter. Major share comes from the sector of Oil and gas but the recent diversifications have reduced the share and the country has seen a major transformation from a desert to a modern city with high living standards. GDP per capita Year 2008 2009 Pakistan GDP in dollars 637.25 650 India GDP in dollars 661.14 718 UAE GDP in dollars 21152.94 26071 The GDP per capita is obtained by dividing the GDP adjusted for inflation by the total population. It gives a more accurate figure showing the incomes. Hence we can see that the GDP per capita of UAE is almost 35 to 40 times more than that of India and Pakistan showing that on average people there are much more rich and well off. FDI Year 2008 2009 Pakistan FDI billion $ 5.19 4.6 India FDI billion $ 24 35 UAE FDI billion $ 13.7 4 From this we see that the FDI for India is much bigger to that of other countries although the FDI of UAE has dropped sharply but in the past years it was much bigger. The FDI for Pakistan has been a mixed one where it fell from 8 billion dollars from 2007 to 2008. Financial Stability Although there are many factors which contribute to the fincial stability of any country, but we will consider some of the most important ones. Inflation Rates Year 2008 2009 Pakistan Inflation rates % 20.15 13.93 India Inflation rates % 8.31 10.82 UAE Inflation rates % 14.0 7.0 The inflation rate basically refers to a general rise or decline in prices when compared against a standard level of purchasing power. Current inflation rate of Pakistan is 12.69% in Jun 2010 and it seems to be on the reducing side since 2008 when the inflation rose to a level to 25% also. But since the political situation seems to be stable the inflation rates have also settled down. Whereas India’s inflation rate has been seen on the rise with the current inflation rate being 13.91% in May 2010. The inflation rate has risen from 2008 to 2009. The inflation of UAE has also decreased from 2008 having the figure of 14% to 7% during 2009, although the World crisis has had an impact on the economy of UAE as well, but it regained its position. Interest rates Year 2008 2009 Pakistan Interest rates % 12 13.125 India Interest rates % 5.93 3.41 UAE Interest rates % 3.11 2.17 Interest rates of Pakistan is seen on the rise and standing at 13% at its benchmark rate. The interest rate decision is taken by the State Bank of Pakistan, whereas in India the interest rates are on the decline showing a low percentage returns on savings encouraging business sector. The interest rates of UAE are much lesser then both of the countries i.e. Pakistan and India. Political and Legal Environment Political Stability Pakistan’s government has not been stable in the past few years after the martial law ruler but lately it has stabilized some, but still the political stability is at stake whereas political situation in UAE is very stable and there is no political upheaval in the recent past. The political condition of India is not very stable, although the government is democratic but still there is risk to some extent of political upheaval. But political stability does not necessarily mean economic growth as we can see in India’s case that in the first 30 years of Mr. Jawarhalal Nehru’s post independence era which had maximum political stability showed a growth of 3 to 3.5% whereas in the last 10 years of maximum political instability we saw a growth some 6-7%. Open to Trade All the three countries are very flexible when it comes to trade and they invite investment from other foreign countries. Alot of the investment in UAE based companies undergoing projects are from foreign companies, similarly Pakistan and India are also investment oriented. UAE became a contracting party to GATT in 1994, and member of WTO in 1996. The regulations and policies in UAE are such that it strengthens the position of the country as an open economy. Likewise, TDAP (Trade Development Authority of Pakistan) also ensures that open trade takes place in and out of Pakistan. On the other hand India also being a member of GATT and WTO offers open trade to strengthen its economy. Social and Cultural Environment Corruption Corruption has been a drawback for South Asian countries including India and Pakistan. Hence foreigner’s investments are at stake if they invest in a country where there is too much corruption. But generally corruption is mostly seen in the government departments in India and Pakistan. In UAE corruption levels are much lesser as compared to the other two. According to Nation Masters corruption Statistics, the transparency list contains UAE on 30th rank in the world, where as India on 89th rank and Pakistan on 145th. Reference Groups People living in South Asian countries i.e. India and Pakistan are leaned more towards collectivism where they take decisions after advises from experienced people and also on advertisement which is why The University of Auckland must know how and where to target. In UAE too there are many South Asians which shapes the culture in the similar manner, but the locals too are collectivists. According to a research by Richard Buda Hofstra University and Sayed M. Elsayed-Elkhouly Hofstra University that Arabs are more collectivists then Americans. Family Roles Since in South Asian countries there is a lot of focus of the parents to provide their child with education, it is extremely beneficial for the University of Auckland to target such countries where children are viewed as providing their parents and grandfathers with security once they get old. This is why the parents make their child to study for MBA and PHD degrees. Resources and Technology Resource Availability Since in all of the three countries English is well understood, there is little need to higher teaching staff who would know local language. Rather it will be preferred if an International University would enter this market. Resources including the teaching staff is very much upto the standards in these countries and so little of the teaching staff would be required to travel from Newzealand. Technology The technological advancement in all the three countries could facilitate the University to conduct online lectures and presentations where the professor could give the lecture from Newzealand to the campus in any of the three countries. Through E-learning the cost of traveling for the professors teaching at the University back in Newzealand will be saved. The computer labs can also be set up in the new campus where there should be internet facility and intranet. This would facilitate researches to be undertaken by the students. Porter’s Five forces Analysis Pakistan The threat of the entry of new competitors The government had abandoned the visionary program of four world-class foreign universities that were to be established in partnership with foreign countries in January 2009 but what this means is that there is no room for an entry into the higher education market. This along with the security situation in Pakistan means that very few international schools would think about setting up a campus here. Thus, making the barriers to entry high. The intensity of competitive rivalry There are basically two types of Universities in Pakistan. One type being the private and the other being public. What is worth noticing is that the spending on higher education has increased 15 times over the last five years but the improvements in the sector have been cosmetic. There are external programs affiliated with international universities that are being offered in Pakistan but those are part time programs and the existence of a fully fledged international university remains an absence here. The competition on the other hand is very healthy with very good engineering universities and multiple business institutions competing with each other in the Higher Education Commission of Pakistan rankings. Thus, overall the competition is high among the top institutions with a large number of students trying to get enrolled in the top universities. The threat of substitute products or services The only substitute is to study abroad. Pakistani parents spend about Rs 80 billion annually to send their children abroad to obtain quality higher education. Thus over 11,000 visas were granted last year by the British High Commission for students to study in British Universities. The bargaining power of suppliers Within the higher education industry there are a large number of suppliers with many top notch engineering and medical universities along with good business schools and it is worth noting that all the institutions offer similar products with more or less the same curriculum being followed in all business schools or engineering universities with the difference just being in the level of teaching. The bargaining power of customers (buyers) A 300 percent jump in research publications shows that academic activity in Pakistan has vastly increased and there more than half of the population of Pakistan is below 15 which means there is a huge untapped market of potential customers. It must be kept in mind that there is a huge sensitivity of the local population towards the quality of education offered and the value of the degree which is the prime reason why so many students are readily going to foreign universities for their higher studies. Also, the old tradition of children supporting their parents in the old age means that parents want that their children should get the best quality of education so that they can earn a good livelihood and among the urban areas of the country there is more and more pressure from the upper social class to change the style of living into one of a higher standard means that further education and education from an international institution is becoming more and more common. India The threat of the entry of new competitors The barriers to entry are low as the foreign universities bill was approved by the Union Cabinet in March this year (2010)in which the Prime Minister of India has given a green light to proposals coming in from the foreign universities in order to meet the education needs of the growing Indian population. Kapil Sibal (Government minister) said that there was a need for around 800 to 1000 universities in India in the next 10 years to cater to the growing number of students. He also said that the foreign universities should have the freedom that they are entitled to under the national laws because we are changing the structure of our laws and these universities will have to go through an accreditation process and can teach what they want, in the manner they want and there will be no interference in those processes and no regulations would be imposed on them by the Indian Government. The intensity of competitive rivalry Last year in July the Finance Minister Pranab Mukherjee increased the budget for higher education by 55% to $3.1 billion, saying that "the demographic advantage that India has needs to be converted into a dynamic economic advantage by providing the right education and skills." Until now the foreign education institutions involvement in India is limited. There are more than 100 foreign educational institutions offering programs in India, but most are vocational or technical and run for only a few weeks or months. The local institutions in India welcome the move to allow foreign universities to come to India by saying that this would help the local institutions develop into institutions equivalent to those outside the country and would take the local institutions to a higher caliber. The threat of substitute products or services The substitute available is to study abroad. About 160,000 students a year leave India to study abroad, according to the National Knowledge Commission, an advisory group to the prime minister. The bargaining power of customers (buyers) Nearly one in three of India's 1.15 billion people is under 14 and India has the world's largest pool of young people, with nearly 60% of its population under 25, according to the National Knowledge Commission, a government advisory body on higher education and it is estimated that 800 to 1,000 new universities would be needed within ten years if the number of students going on to higher education was to rise from the present 12 per cent to 30 per cent. The bargaining power of suppliers High supplier power as there are many universities that are providing higher education in India as India with more than 490 universities and 20,769 colleges, has among the largest number of higher education institutions in the world, according to report by the Ministry of Human Resources and Development. UAE The threat of the entry of new competitors The barriers to entry are moderate with reputable foreign universities that fully comply with their own countries’ standards will be allowed in the academic city and the no stand-alone universities would be permitted. The basic purpose of the setup of the academic city is to provide quality education and any university that has a good past history and a good name in the global rankings would be allowed to setup its campus in the academic city. The intensity of competitive rivalry The two types of universities in UAE are the local universities and the international universities. The local universities are facing a tough time because of the international ones and also there is intense rivalry between the numerous international universities to enroll the most capable students into their programs. The threat of substitute products or services The only substitute available is to study abroad. In cash rich places like UAE the parent would be willing to send their children to places in the US and UK rather than having them study in offshore campuses in UAE. The bargaining power of suppliers The education system in UAE is very strong. It is always updating and there’s continuous investment in education infrastructure which attracts expatriate, local and foreigners. Also, there are a large number of suppliers including local universities as well as international universities established in the Education City in Dubai offering various programs in different fields. The bargaining power of customers (buyers) The local Arabs who are oil rich are not very much willing to provide their children with higher education as compared to India and Pakistan, although in the recent times the trend has changed a little and the importance of higher education has been highlighted and some have understood its importance. But, regarding the internationals students from other parts of Asia coming in to study in UAE, the number is experiencing a decreasing growth rate and many average universities are finding it tough to fill in the required amount of candidates into the programs they are offering. Selection of location Based on these reasons I have selected Pakistan as the country where The University of Auckland can expand into since in UAE we already see that there are many International Universities which have already been opened and operating. Not only that, the Arabs are not very much willing to go for higher education and even students coming from South Asian countries into UAE have recently declined as we discussed earlier. Whereas in India we see that the measures taken by the government asking the International Universities to enter the market would mean that it would again be saturated by International Universities soon and since the Barrier to entry is low this could mean that many International Universities can easily expand into India. Whereas in Pakistan the market is still untapped by International Universities and the barriers to entry is high which means that once the campus is setup then there will be no competition with any International University (very few chances of any other International University entering). Expansion in Pakistan Objectives The objective of this research is that the University of Auckland should consider an expansion into Pakistan where they could set up their campus in Karachi which is the most populated city of Pakistan. The campus will be set up in Karachi because most of the share of the country’s GDP comes from this city and it acts as a hub and sea-port is also connected to the city which gives it an added advantage of carrying out trade through sea. Due to these reasons a campus can be set-up there in a locality which easily connects to the city and so students should not face the difficulty of travelling to the campus. Organization’s Strategy Marketing Mix Marketing strategy has to be properly defined before its operations start. After all, setting up a University and imparting knowledge means that students, faculty staff and all related people working for the company should be treated in a good manner to create a trust worthy relationship which further will promote the recognition of the University. For this particular reason we use the new approach called market orientation where marketing plans are based to suit the consumer/customer needs. A formal approach to this customer focused marketing is SIVA (Solution, Information, Value, Access). We use it to plan our expansion of the University where (Product) Solution must be provided to the students who can gain knowledge through quality education upto International standards (Promotion) Information that is given to the public must not be deceptive for e.g. if an advert is placed in local newspaper claiming best teaching faculty then they must attain International standards. (Price) The fee structures should be designed in a manner which should equal the benefits the students will reap after getting their degree. Since in an educational organization it is not easy to derive the cost of running a business, mathematical calculations are required to do so. (Placement) The location for the campus should be chosen considering the traveling time of students who may approach the University from around the city. This is why central locations are preferred. Market Segmentation Market can also be segmented on the basis that there should be a quota or fixed number of seats for the students who cannot afford to study at the University every year. This would mean that no student is denied the admission once he has cleared the entrance test due to his/her inability to pay the tuition fees. Moreover, the International University when enters a local market has to set its fee structure in comparison to that of local universities because charging bigger amounts initially will result in negative results. On the same hand, the costs will also be less for South Asian countries as compared to the University’s operation in Newzealand because the salaries paid to the teaching staff, utility bills are much lesser. Entry Mode When entering into a new market or country the basic two considerations relates to analyzing the potential competitors i.e. in our case we see how many Universities are already set-up awarding degrees similar to that of our University. Secondly, also have to analyze the potential customers i.e. students in our case. Other than that some factors also needs consideration which includes: Trade barriers i.e. in this case government policies of the country where expansion is taking place must be seen relating to setting up of an International University as sometimes there are many restrictions put by the government to discourage entrance of International Universities. Localized knowledge should be made available before expansion to see what difficulties are faced when setting up a campus in that country and city in particular. For instance to purchase a property for campus or investing into technology for setting up a computer lab etc. Price localization as discussed earlier should be in comparison to that of local Universities. Most important is setting up of proper location which should be a central area of the city and where there should be lesser traffic jams and other transportation issues. The safety is also an important factor while considering the location since the students move in and out of the campus very frequently. Conclusion After conducting our research and analysis we decided to expand the University of Auckland in Karachi, Pakistan. Based on the analysis of the three countries we decided that the market potential, untapped market of International Universities and the surge for knowledge creation leads us to opt for Pakistan. Further, we also derived our marketing strategy and also gave an insight into the factors which must be considered while entering into a new market. We saw what difficulties could be faced when entering any new market or market pertaining to Pakistan. Recommendations When operating in a new market which is very diverse and has a different culture it is better to have a partnership with a local institute. Since the local institute would know all the ins and outs of operating in that environment it would provide the University of Auckland an edge where the majority of the investment will be from the University of Auckland. The risk of operating alone in a new market is reduced by half if partnership is done with the local institute. Therefore, from the risk management point of view I would recommend a partnership. Not only that, but also because a foreign University may face resistance from the local people since they may feel hesitant to enroll in a foreign University. References: 1. 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Elsayed-Elkhouly Hofstra University, Journal of Cross-Cultural Psychology, Retrieved August 2,2010 from http://jcc.sagepub.com/content/29/3/487.abstract 26. UAE GDP rate, Trading Economics, Retrieved August 1,2010 from http://www.tradingeconomics.com/economics/GDP.aspx?symbol=AED 27. UAE GDP per capita, Trading Economics, Retrieved August 1,2010 from http://www.tradingeconomics.com/Economics/GDP-Per-Capita.aspx?Symbol=AED 28. UAE Trade Policy, UAE Ministry of Foreign Trade, Retrieved August 2, 2010 from http://www.uaetrade-usa.org/index.php?page=uae-us-relations&cmsid=64 29. UAE Academic City to become center for higher education, Retrieved August 2, 2010 from http://www.condohotelsUAE.com/articles/academic-city.htm 30. University of Auckland, Retrieved August 1, 2010, from http://www.auckland.ac.nz/uoa/home/about/the-university/university-history/uoa-our-history 31. Universities in UAE, Retrieved August 2,2010 from http://www.jobzing.com/education-training/university/UAE.html Read More