BUSM 4547 RMIT Higher education in Singapore

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RMIT University

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Report Format. 3000 words.

(Please do not use words that are too profound, make it simple. Thanks!)

Please do include the followings:

1. Executive Summary

2. Introduction: Background Information about our Partner Organisation

3. Problem Definition: What is so characteristics about the management challenge for our Partner Organisation?

4. External Analysis: PESTEL & VUCA

5. Industry Analysis: Porter’s 5 Forces

6. Internal Analysis: RBV

7. Conclusion

More requirements of the assignment is attached.

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Bachelor Of Business (Management) Management In Practice Assessment 01 – Diagnosing The Causes Of The Organizational Change Jan 2019 1 The Management Challenge: “Operating A Global Education Business Within A Changing Educational Landscape” What Practical, Tangible Things Does RMIT Business College Have To Do In Order To Become The Higher Educational Provider Of Choice For Singapore Business Students By 2030? 2 3 4 Assessment 01: Individual – 20% Diagnosing The Causes Of The Organization Challenge ➢ Format: Report ➢ Length: 3000 Words (Max), 1.5 Line Spaced, 12 Point Times New Roman. Note: The Word Count Does Not Include References Or Appendices Assessment 01 Task : Individual External & Internal Organizational Analysis (Include Literature Review) Draft Submit Submit Identify & Analyse The Contextual Elements That Contribute To The Challenges That RMIT Business College Faces Macro Environment Analysis The Macro Analysis Refers To The Impact Of The PESTLE Factors On Both The Industries & The Overall Economy 7 Example: Macro Environment Analysis Macro Environment Analysis Important Considerations For External Analysis Opportunities Threats ❖ Enter New Market Or Segments? ❖ Likely Entry Of New Competitors? ❖ Add To Product Line? ❖ Rising Sales Of Substitute Products? ❖ Diversity Into Related Products? ❖ Slower Market Growth? ❖ Add Complementary Products? ❖ Adverse Government Policies? ❖ Vertical Integration? ❖ Growing Competitive Pressures? ❖ Ability To Move To Better Strategic Group? ❖ Vulnerability To Recession & Business Cycle? ❖ Complacency Among Rival Firms? ❖ Growing Bargaining Power Of Customers Or Suppliers? ❖ Faster Market Growth? ❖ Others? ❖ Changing Buyer Needs & Tastes? ❖ Adverse Demographic Changes? ❖ Others? Porter’s Five Forces Industry Analysis SGP Higher Education Business 11 Porter’s 5 Forces - Assessing Industry Attractiveness Barriers To Entry Economies Of Scale - Capital Required Brand Identification Product Differentiation New Entrants Govt. Action Industry Protection/Regulation Govt. Assistance/ Customs Foreign Exchange/Ownership Suppliers Industry Competitors Intensity Of Rivalry Barriers To Exit Asset Specialisation Govt. & Social Restrictions Rivalry Amongst Competitors Industry Life Cycle Stage Industry Structure Concentration Cost Structure Buyers Power Of Suppliers Power Of Buyers Number Of Important Suppliers Number Of Important Buyers Supplier Contribution To Quality Industry Ability To Forward Availability Of Supply Substitute Threat Of Backward Integration Substitutes Buyer Switching Cost Threat Of Forward Integration Industry Ability To BackwardAvailability Of Substitutes Integrate Closeness Of Substitutes Integrate Substitute Price - Value 13 RMIT’s current stage Product Life Cycle Model Important Considerations For Internal Analysis Strengths ❖ A Distinctive Competence? ❖ Adequate Financial Resources? ❖ Good Competitive Skills? ❖ Well Thought Of By Buyers? ❖ An Acknowledged Market Leader? ❖ Well Conceived Functional Area Strategies? ❖ Access To Economies Of Scale? ❖ Insulated From Strong Competitive Pressures? ❖ Proprietary Technology? ❖ Cost Advantages? ❖ Competitive Advantages? ❖ Product Innovation Abilities? ❖ Proven Management? Weaknesses ❖ No Clear Strategic Direction? ❖ A Deteriorating Competitive Position? ❖ Obsolete Facilities? ❖ Sub Par Profitability Because …? ❖ Lack Of Managerial Depth And Talent? ❖ Missing Many Key Skills Or Competences? ❖ Poor Track Record In Implementing Strategy? ❖ Plagued With Internal Operating Problems? ❖ Vulnerable To Competitive Pressures? ❖ Falling Behind In R&D? ❖ Too Narrow A Product Lines? ❖ Weak Market Image? ❖ Competitive Disadvantages? ❖ Below-Average Marketing Skills? ❖ Unable To Finance Needed Changes In Strategy? VRIO Model Components Of Internal Analysis Leading To Competitive Advantage & Strategic Competitiveness Competitive Advantage Strategic Competitiveness Discovering Core Competencies Core Competencies Capabilities Resources Four Criteria Of Sustainable Advantage Value Chain Analysis ✓Tangible ✓Intangible ✓ Valuable ✓ Rare ✓ Inimitable ✓ Organization Support Outsource Assignment 01 - Requirement Explain How The Nature Of The Challenge Is A Result Of The Combination Of External & Internal Factors That You Have Discovered Through Your Research & Subsequently ReDefine The Management Challenge As A Problem That Can Be Solved Through The Combination Of Management Theory & Practice. (Note: You Are Not Expected To Provide The Solution At This Stage – Just Re-Define The Problem Through A Management Theory Lens) Reference List - Academic References Academic Papers From Peer Reviewed Academic Journals Examples – Peer Reviewed Academic Journals Examples - Peer Reviewed Academic Journal Articles Rowley, T.J. & Moldoveanu, M. (2003) “When Will Stakeholder Act? An Interesting Identity-Based Model Of Stakeholder Group Mobilization", Academy Of Management Review, Vol 28, Issue 2, pp 204-219 Hollender, J. (2004) “ What Matters Most: Corporate Values & Social Responsibility", California Management Review, Vol 46, Issue 4, pp 111-119 Sull D.N (2005) “Strategy As Active Waiting”, International Harvard Business Review, Vol 83, Issue 9, pp 120-130 22 Appendix Page Diagrams, Tables, Statistics, Graphs, Pictures, Questionnaires, Drawings, Tabulations, Surveys, Data, etc. Must Be Inserted In The Appendix Page Reference List - Non-Academic Journal Articles References From Books/Textbooks, Periodicals, Magazines, Newsprints, Websites, & Other Non-Academic Literature. 24 Harvard Referencing Citation – In The Report To Analyze Competitive Forces In An Industry Environment And In Order To Identify The Opportunities & Threats Confronting A Company, (Porter 1979) 5 Forces Model Is Used In The Analysis. This Model Focuses On Five Forces That Shape Competition Within An Industry: 1. The Risk Of New Entry Of Potential Competitors, 2. The Degree Of Rivalry Among Established Companies Within An Industry, 3. The Bargaining Power Of Buyers, 4. The Bargaining Power Of Suppliers, And 5. The Closeness Of Substitutes To An Industry’s Products. Porters Argues That The Stronger Each Of These Forces, The More Limited Is The Ability Of Established Companies To Raise Prices And Earn Greater Profits. References List Porter, M. E. (1979). "How Competitive Forces Shape Strategy." 25 Harvard Business Review 57(2): 137-145. BUSM 4547 – Management In Practice Organization Data Pack & Management Challenge Our Partner Organization Has Provided You With Some Information To Get You Started. This Information Is By No Means Complete And It Is Expected That You Will Conduct Further Research Into The Organization And Its Operating Environment To Gather The Information That You Need To Help You To Begin To Make Good Decisions. Start By Reading The Management Challenge Below. This Is A Real Challenge That Our Partner Is Seeking To Address Right Now And Forms The Basis For Your Assessment. Seek To Understand The Problem From Their Perspective First And Then Begin To Seek To Understand It From A Wider Perspective By Reading The Associated Materials Below. Don't Forget You Are Expected To Do Further Research. The Management Challenge: Operating A Global Education Business Within A Changing Educational Landscape What Practical, Tangible Things Does RMIT Business College Have To Do In Order To Become The Higher Educational Provider Of Choice For Singapore Business Students By 2030? This Question Goes To The Heart Of The Role That Management Education Plays On A National Scale; The Role That Foreign Institutions Play In The Educational Landscape Of Singapore; Specific Pedagogies (Theory & Practice Of Education) Employed In Delivering These Challenges And Their Fit For Purpose Both Now And Into The Future. Kelemen And Bansal (2002) Openly Recognized The Failure Of Management Education And Research To Address Practitioners’ Needs And Have Urged For New Approaches That Forge Better Integration Between Academia And Practice. (Jarzabkowski, P. A., Giulietti, M., Oliveira, B., & Amoo, N. 2012,. P5). However, While The Focus Of This Article Might Be On Whether Management Education Is Failing Students, We Would Rather Ask The Question: What Do Institutions Of Higher Learning Have To Do To Remain Relevant Over The Next Decade? Singapore: It’s Been Nearly A Year Since Skills Future Singapore Released Its Education (Training And Adult Education) Transformation Industry Map (Links To An External Site.) Links To An External Site. (Released February 1, 2018). The Singaporean Government Is Proactively Reacting To Some Significant External Pressures To Ensure That The Nation Remains Competitive And Economically Strong. However, There Are Some Pressures That Are Difficult To Counter Such As Hanging Demographics: “In Fact, Singapore’s Ministry Of Education (MOE) Has Announced That 14 Primary Schools And 6 Secondary Schools Will Merge In 2019 To Adjust To The Changing Demographics. Institutes Of Higher Education Are Also Experiencing Lower Enrolments As The Demographic Shifts Reach Them. These Demographic Trends Mean That Policies And Higher Education Institutions Need To Support All Ages, Not Just Those In The 18–25-Year-Old Range, In Order To Ensure Enough Of The Right Kinds Of Labor And Jobs, And A Continuing Tax Income For The Government.” (Gleason, N.W., 2018, N.P) RMIT Is One Of The Largest Universities In Asia, Deeply Embedded And Leveraging Longstanding Partnerships. However The Market For Higher Education Provision In Singapore Is Fierce. There Are Currently 290 Private Education Institutions In Singapore Currently Registered With The Government, But This Doesn't Give A True Indication For The Complexity And Scale Of The Different Options Available To Students. For Example, Singapore Institute Of Management Is In Partnership With Many Other Universities And, Along With Its Own Offerings Of Programs (Degrees) Offers 144 Different Programs From Preparatory Instruction All The Way Through The Masters Programs Offered By Well Known Universities Such As The University Of Sydney, The University Of London And Of Course The Range Of Programs Offered By RMIT. RMIT: Committed To Providing High Quality Education Services To Singapore For Over 30 Years, We Recognize The Role That We Play In Supporting Singapore To Achieve Its National Goals By Providing Relevant, High Quality Education Services. RMIT Is A Global Institution - It Seeks To Differentiate Itself Through The Practical Application Of Learning And Research In The Locations In Which It Operates. Our Aim, No Matter Where We Operate Is To Prepare Students To Be Ready For Life And Work (Links To An External Site.) Links To An External Site. But, As In All Industries, Things Change. Does Providing Education In The Traditional Model Still Work? What Are The Expectations Of Students, Industry, Politicians And Society For What Education (And Education Providers) Can Deliver? The Challenge: This Is Your Opportunity To Re-Imagine Higher Education In Singapore. Begin By Understanding The Value Network That RMIT Is A Part Of - What Brings Students To RMIT? What Does RMIT Need To Do The Keep Students Engaged? How Can RMIT Increase The Post-University Value Proposition For Singapore Students? Teaching Is Only One Part Of The Value Equation For Singapore - What Does An Institution Like RMIT Have To Do To Be Regarded As The Institution Of Choice? What Long And Short Term Things Should RMIT Do? What Is The Optimum Proportion Between Short Term Incentives And Actions And Longer Term Investments? Who Should The Longer Term Investments Benefit? We Encourage You To Take A Critical Look At The Way Higher Education Currently Operates And RMIT In Particular Within The Singaporean Context. You Need To Recognize That RMIT Is In The Business Of Providing Higher Education Services, And Just Like All Other Businesses It Has To Be Responsive To Changes In External And Internal Operating Environments. You Have A Unique Insight Into How RMIT Operates In Singapore. We Encourage You To Leverage That Insight, But We Also Warn You That Your Perspective Is Probably Too Narrow To Solve This Challenge. We Encourage You To Look Up And Out, To Scan The Horizon And To Be Bold In Your Suggestions About How RMIT Can Compete In This Changing Environment And What It Has To Do To Become The Higher Education Provider Of Choice In Singapore By 2030. References: Gleason N.W. (2018) Singapore’s Higher Education Systems In The Era Of The Fourth Industrial Revolution: Preparing Lifelong Learners (Links To An External Site.) Links To An External Site.. In: Gleason N. (Eds) Higher Education In The Era Of The Fourth Industrial Revolution. Palgrave Macmillan, Singapore Jarzabkowski, P. A., Giulietti, M., Oliveira, B., & Amoo, N. (2012). “We Don't Need No Education” - Or Do We? Management Education And Alumni Adoption Of Strategy Tools. Journal Of Management Inquiry, 22(1), 424. http://Doi.Org/10.1177/1056492612460588 (Links To An External Site.)Links To An External Site. Page 5 Some Further Resources That Might Help: https://cosnconference.org/the4thindustrialrevolution/ (Links to an external site.) Links to an external site. http://futureuniversities.com/ (Links to an external site.)Links to an external site. https://www.forbes.com/sites/adigaskell/2019/01/02/solving-future-skillschallenges/#383be0fc47d9 (Links to an external site.)Links to an external site. https://www.edsurge.com/news/2019-01-03-the-future-of-moocs-must-be-decolonized (Links to an external site.)Links to an external site. http://theconversation.com/gen-z-entrepreneurs-view-higher-education-as-vital-to-their-startups108645 (Links to an external site.)Links to an external site. http://bweducation.businessworld.in/article/The-Future-4-0-University/25-12-2018165515/ (Links to an external site.)Links to an external site. https://futuristspeaker.com/thomas-frey-bio/future-of-colleges-universities-futurist-thomasfrey/ (Links to an external site.)Links to an external site. https://www.weforum.org/about/the-fourth-industrial-revolution-by-klaus-schwab (Links to an external site.) Links to an external site. Industries 4.0 - The Fourth Industrial Revolution (Links to an external site.) Links to an external site. Below Is A Great Blogpost From The World Economic Forum That Discusses What They Term As 'Globotics' - Essentially A Mix Between Globalization, Robotics And The Disembodiment Of Service Provision (I.E Getting A Service That Used To Be Performed By A Human Provided Through Other Means). Baldwin, R., 2018. If this is Globalization 4.0, what are the other three? World Economic Forum. Available at: https://www.weforum.org/agenda/2018/12/if-this-is-globalization-4-0-what-werethe-other-three/ (Links to an external site.)Links to an external site.[Accessed January 2, 2019]. A Near Term View Of Education: Wiley - A Business That Makes Some Of Its Money Through Publishing Textbooks For Higher Education - Asked A Bunch Of Professors What They Thought Education Would Look Like In 2025. You Can See An Infographic About What They Thought Here (Links To An External Site.)Links To An External Site. Question: It's Now 2019 - Do You Think These Are Realistic Insights Or Have The Professors Set Their Vision Too Low (Or High)? RMIT's Vision To 2020 - Download RMIT's Ready For Life And Work Strategy HERE (Links To An External Site.)
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Explanation & Answer

Attached.

Higher Education in Singapore for the next 30 years- Outline
Thesis: The dynamics in the global society influenced by the changes in technology have had
impacts on all aspects of lives and operations including the education systems globally. The
changes have necessitated for the need to keep in track with the changes and make alterations as
possible regarding various components of the society including higher education.
The paper higher education in Singapore as follows:
I.
II.

Introduction
Problem Definition

III.

External and Internal Organizational Analysis

IV.

SWOT Analysis

V.

PESTEL Analysis

VI.

VUCA Analysis

VII.

Industry Analysis

VIII.
IX.

Internal Analysis RBV
Conclusion


Higher Education 1

HIGHER EDUCATION IN SINGAPORE FOR THE NEXT 30 YEARS
Name

Course
University
Instructor’s Name
University
City and State
Date

Higher Education 2
Executive Summary
The changes in various factors governing the running and administration of governments
affect multiple institutions and sectors within the economy. The dynamics recorded in the
Singaporean economy over time have shown the significant growth in the country over the last
decades presenting opportunities and offering threats for the operations of various institutions
within its territories. RMIT operating through its partners in Singapore seeks to expand its
operations and customize its service offerings to meet the learning and training needs of business
students in the country and consequently being branded as the best university of choice by 2030.
The university is however faced with the dilemma on how to run its operations in a dynamic
market. An analysis of the internal and external operating environments of the university
suggests its ability to develop itself through the establishment of various programs and policies
to support the move towards market leadership in the higher education industry in Singapore.

Higher Education 3
Introduction
The dynamics in the global society influenced by the changes in technology have had
impacts on all aspects of lives and operations including the education systems globally. The
changes have necessitated for the need to keep in track with the changes and make alterations as
possible regarding various components of the society including higher education. Singapore is at
the forefront of innovation in its higher education systems. The government has invested in great
initiatives to establish an education system that if future-ready (Marginson 2011). The country’s
increasing economic prosperity goes hand in hand with its rewarding education system. The most
critical changes made on the country’s education system (Tee & Tan 2010). In the recent past
includes the implementation of lifelong learning initiatives such as the Smart Nation Singapore,
SkillsFuture Singapore as well as the establishment of several new higher education institutions.
The government’s commitment to the provision of excellent higher education offers an
opportunity for RMIT to customize its programs in the business field to be in line with the
country’s educational needs and thus become the best business training institution by 2030.
RMIT is a global university with a bias in the technology, design and enterprise fields. The
institution was initially established in Melbourne Australia and enjoys an international reputation
for excellence in vocational and professional training, applied research and engagement with the
industry and community within which it operates. It is also a world leader in the arts and design
sector with well-established training and curriculum programs in education, business,
engineering, development, computer science, information technology, business, and management
as well as communication and media studies.
The university offer programs in various countries through the establishment of a
partnership with local universities in these territories. The University has established critical
partnerships in Singapore and seeks to develop its business and management program to be in
line with the increased need for such skills and expertise in the country and thus prepare
graduates for the best market opportunities by 2030. The university’s commitment to the delivery
of high-quality work-integrated learning and the desire to be a specialist in life-long learning is
critical for the success of the establishment in Singapore as the university's mission, and vision
and the set objectives go hand in hand with the education needs of Singapore over the
foreseeable future.

Higher Education 4
Problem Definition
The management challenge of RMIT regards the provision of quality global education
within a dynamic environment. The educational landscape in Singapore has exhibited
tr...


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