Management in PRACTICE Management in Practice Name of the Student Name of the University Author Note

Running head: MANAGEMENT IN PRACTICE
Management in Practice
Name of the Student
Name of the University
Author Note

1MANAGEMENT IN PRACTICE
Executive Summary
The provision of business education is something that is becoming increasingly challenging
for academic institutions around the world, with those in Singapore being no exception.
Business institutes have to come up with new strategies and ways of imparting business
education in order to make students more competent to take up jobs and do well in such jobs
within a few months after they graduate. This report looks at how RMIT University in
Singapore can emerge as one of the leading providers of business education in the city. The
report engages in an in depth literature review and analyzes the position of RMIT University
in Singapore using tools such as TOWS Matrix and the 7S system to understand how its goal
of becoming the most sought after business education institute in Singapore can be achieved.

2MANAGEMENT IN PRACTICE
Table of Contents
Introduction..........................................................................................................................................3
1. Literature Review..........................................................................................................................3
1.1. Challenges in Higher Business Educational Practices...........................................................3
1.2. Competition in Higher Business Education...........................................................................5
1.3. Gaps in the Literature Reviewed..........................................................................................6
2. Proposed Tools for Analysis..........................................................................................................6
2.1. SWOT Analysis of RMIT University in Singapore..................................................................6
2.2. Tows Matrix Analysis for RMIT University in Singapore......................................................8
2.3. Analysis of RMIT University using McKinsey’s 7S System....................................................8
Conclusion.............................................................................................................................................9
3. References and Bibliography......................................................................................................11
Appendix.............................................................................................................................................13

3MANAGEMENT IN PRACTICE
Introduction
Changing realities of business environments and the gaps between expectations of
business enterprises and business education is something that is seen to greatly limit market
availability of graduates in business studies. Technological and economic challenges are
pushing business enterprises to the extent that leadership tends to make a difference between
first class performance and mere survival. As such organizations push boundaries of
innovation, efficiency, and targeting of customers, these are guided well enough by business
managers with an excellent vision, who blend renewed entrepreneurship spirit with technical
expertise to lead employees towards the accomplishment of proficiency in business activities.
Business models such as this tend to create a lot of stress on proactive business as well as the
responses that are generated by the business to a competitive environment (Daniel 2015).
Business organizations in today’s day and age therefore require employees who are great
leaders and not just meagre managers. Institutions of higher education that offer business
degrees are therefore challenged with the task of providing quality guidance and expertise
that will in turn churn out desirable graduates who are competent enough to do well when
recruited by the best business organizations (Tuan 2018). This report looks at the marketing
strategies that can be deployed by RMIT University in Singapore to emerge as one of the
foremost centers of learning to provide quality business education in the country, that is, the
type of education that ensures academic soundness and employability at the same given time.
1. Literature Review
1.1. Challenges in Higher Business Educational Practices
Smith (2018), argues how globalization is a process that is continuously re-shaping
business practices in the 21st century, and that business education is something that needs to

4MANAGEMENT IN PRACTICE
adapt itself to include cross cultural understandings in the curriculum and that the impact that
this is likely to have on the making of business decisions, in addition to fostering skills that
are needed for being culturally sensitive when doing business. Faculty led immersions and
short term research exchange programs offered by international universities argues Smith
(2018), are those that provide business students with the scope of studying the impact that
cross cultural practices have on business growth and development, making such students
cross culturally competent in the process. Smith (2018), engages in a detailed review of
literature that describe the theoretical models or processes that help students to achieve cross
cultural competence with special reference to short term and faculty led study immersion
programs. Smith (2018), outlines a number of best practices that can be deployed for the
purpose of both designing and executing such programs in the domain of higher education in
business. Smith (2018), concludes with a number of useful recommendations that may be
considered for future research and investigation in business studies.
Arkorful and Abaidoo (2015), investigate the usefulness, effectiveness as well as the
challenges of taking recourse to e-learning initiatives when imparting business education.
Plenty of scholarly literature is reviewed on the part of Arkorful and Abaidoo (2015), for this
purpose and a scholarly background is also provided to the study through a review of some of
the major contributions that have been made by researchers from around the world, on the
notion of e-learning, especially the use of e-learning in institutions of higher education.
Perspectives that have been shared by institutions and people globally on the adoption as well
as integration of different types of e-learning technologies in the domain of business
education through surveys and other forms of observational practices. The definitions and
meanings of e-learning are provided by different researchers is what is looked at Arkorful and
Abaidoo (2015), as a part of this study with special reference to the role that is played by e-
learning in institutions of higher education with regard to learning and teaching processes

5MANAGEMENT IN PRACTICE
along with the disadvantages and advantages that are associated with its implementation. The
authors argue that while e-learning technologies are definitely those that enhance business
learning practices, challenges are also posed in the form of contemplation remoteness and
problems that arise when clarifying, explaining or by interpreting business concepts.
1.2. Competition in Higher Business Education
Pucciarelli and Kaplan (2016), talk about the fundamental challenges that higher
education has been subjected to in the last one decade. They argue that while higher
education is something that was formerly a public good, it has now become a global service
that is being delivered by institutions that may be deemed as quasi companies in a
competitive and complex knowledge market place. Pucciarelli and Kaplan (2016), argue that
appropriate strategies need to be undertaken on the part of institutions of higher learning that
impart business education, and well as other types of education, a necessity which they
believe is something that is reflected well enough in the several different calls for strategy
and research in the sector of higher education. The purpose of the research done by
Pucciarelli and Kaplan (2016), is to make a contribution to such a discussion through the
provision of prescriptive guidance for policy makers and managers in the field of higher
education. The researchers to this end have proposed a SWOT analysis that highlights the
eight important trends which are likely to have an impact on higher education as well as
scholarship in both the short as well as the long term, identifying three core challenges that
will be faced by higher educational institutions such as the need to aggravate market share
and prestige, the need to adopt an entrepreneurial mindset and the necessity for expanding
interactions as well as valuing co-creation with all key stakeholders in the higher education
and higher education in business process.

6MANAGEMENT IN PRACTICE
Olssen (2015), draws the attention of readers to the increasing influence of neo-liberalism
in the field of higher education in the country of Britain, with special reference to the
dislocation of public models of good governance and the replacement of such models with
performance targets and individualized incentives, heralding novel as well as stringent
notions of accountability and surveillance across the sector of higher education. Olssen
(2015), surveys the defeat of public models of good governance and tries to arrive at a better
understanding of how neo-liberal strategies pertaining to accountability, are deployed with
the aim of doing so being to assess what changes these are likely to entail for university
education. It is claimed by Olssen (2015), that impact assessment is a sinister phase of the
process of neo-liberal control arguing in conclusion that such accountability models tend to
be entirely incompatible with the notion of public good.
1.3. Gaps in the Literature Reviewed
The literature reviewed above clearly identifies some of the major challenges that are
currently being faced around the world when imparting higher education in business studies
such as technological challenges, practice based learning among others. The higher education
environment globally is also becoming more and more competitive day by day and this has
been pointed out well in the literature reviewed too (Tuan 2018). What the literature fails to
mention though is how education and business education in particular can be designed in
order to meet the needs and requirements of the market, so that fresher employees can adjust
well to their jobs instead of struggling at work right after they graduate (Daniel 2015).
2. Proposed Tools for Analysis
2.1. SWOT Analysis of RMIT University in Singapore

7MANAGEMENT IN PRACTICE
Strengths – RMIT University is serviced by excellent infrastructure, a large sized campus
and a highly qualified faculty that is well positioned to provide world class education to the
students who are enrolled at the university. Most of the faculty members in the various
departments of the University are doctorate degree holders and have sufficient international
experience in their respective fields needed for imparting a global education (Jibai et al.
2018).
Weaknesses – The curriculum or course content as offered by the varied departments of
RMIT University place more emphasis on academic learning and less emphasis on
professional training. Students are not prepared with skills and techniques that could prove to
be useful for them when they apply for internships or for first time job positions. The rates at
which the business studies courses are made available to students at the RMIT University are
also exceptionally high when compared to other business institutes in the same city. Hence it
may be difficult for all those intending on pursuing business studies in Singapore to attend
this premier institute over the matter of affordability (Cerny et al. 2018).
Opportunities – Singapore is a global city and the demand for business education in this city
is currently at an all time high. RMIT University with its well qualified faculty and sprawling
campus is suitably placed to take advantage of such a demand, and grow and expand in a way
that it becomes the most premier business education institute in the city. One of the best
reasons to be studying at RMIT University is the fact that the university is serviced by an
extremely talented and experienced faculty that is more than suitably positioned to give
students the quality education that they need in order to have a remarkable career in the
business world. The RMIT University can take advantage of this fantastic faculty that it is
serviced by in order to grow and develop in the best possible way and become in time one of
the foremost institutes in the city of Singapore for higher education in business (Jibai et al.
2018).

8MANAGEMENT IN PRACTICE
Threats – There are several new and upcoming institutions in Singapore offering business
education in the city for relatively affordable prices. RMIT University can lose out to such
institutes if it does not make its business studies degree programs and courses available for
competitive prices. The students who are eager to pursue a degree or two in higher business
education in Singapore may just prefer to opt to study at these institutes because of the
moderately low prices at which the courses are made available to them rather than choose to
attend a premier institute like the RMIT University. This is especially likely to hold true for
college studies who do not come from middle income backgrounds and who are not willing
to opt for education financing in order pursue their higher education goals (Cerny et al.
2018).
2.2. Tows Matrix Analysis for RMIT University in Singapore
Strengths/Opportunities – The RMIT University in Singapore can make extensive use of its
well experienced and highly qualified faculty providers to offer unique and high standard
business education courses that are not offered by other business management institutes in the
city. It can cash in on its massive infrastructure and campus space to enroll as many students
as possible in every semester, and thus cater to the business studies requirements and needs of
several aspiring students in Singapore, and from around the world (Cerny et al. 2018).
Strengths/Threats – The RMIT University in Singapore can use its experienced and
qualified faculty members to offer a quality education that cannot easily be equaled by the
rival institutes that also offer business education to students in Singapore. Students will feel
prompted to attend RMIT University instead of the rival institutes because of the high
standard of education offered at RMIT, in spite of the expensive tuition fee (Cerny et al.
2018).

9MANAGEMENT IN PRACTICE
Weaknesses/Threats – Since RMIT University stresses more on academic learning, this may
provide an edge to its competitors or threats in the market who might adopt a more practical
oriented approach to business studies. This in turn may augur well for students who are
looking to get placed in a job immediately after graduating (Cerny et al. 2018).
2.3. Analysis of RMIT University using McKinsey’s 7S System
Strategy – The strategy of the RMIT University at the moment is to recruit students three
times in a year for its semester courses. While this is working well, the University can take
recourse to social media marketing to make its courses known more easily to a wider student
base (Ravanfar 2015).
Structure – The RMIT University offers a wide range of courses in the domain of business
studies. While the courses are excellent from the scholastic point of view, the university
needs to include more practical training as part of its curriculum to better train its students for
a career in the business world (Ravanfar 2015).
Systems – The RMIT University is serviced by the latest technological infrastructure that
enables it to provide up to date and state of the art business education (Cox et al. 2018).
Skills – The faculty members of RMIT University are exceedingly qualified and are more
than well equipped to provide students with a quality global education in business studies
(Cox et al. 2018).
Staff – The RMIT University is serviced by a teaching and non teaching staff of substantive
size (Cox et al. 2018).
Style – The top level management at RMIT University makes it a point to promote the
university as an institute that offers quality global education in business learning (Ravanfar
2015).

10MANAGEMENT IN PRACTICE
Shared Values – The employees and the administration at RMIT University are morally
committed to making the institute one of the best ever in the country of Singapore, and are
prepared to work long hours and offer dedicated service in order to do so (Ravanfar 2015).
Conclusion
Thus, the RMIT University is indeed quite well positioned to emerge as one of the
leading providers in business education in the country of Singapore. It needs to take
advantage of its well qualified faculty and excellent infrastructure and offer education at a
more competitive price if it is rope in as many students as it needs to in order to become the
best known provider of business education in Singapore. The RMIT University must
especially work on social media marketing strategies to make its educational services known
to a wide student base around the world quickly and easily.

11MANAGEMENT IN PRACTICE
3. References and Bibliography
Arkorful, V. and Abaidoo, N., 2015. The role of e-learning, advantages and disadvantages of
its adoption in higher education. International Journal of Instructional Technology and
Distance Learning, 12(1), pp.29-42.
Olssen, M., 2016. Neoliberal competition in higher education today: Research, accountability
and impact. British Journal of Sociology of Education, 37(1), pp.129-148.
Pucciarelli, F. and Kaplan, A., 2016. Competition and strategy in higher education: Managing
complexity and uncertainty. Business Horizons, 59(3), pp.311-320
Smith, E.C., 2018. Fostering a Global Mind: Challenges and Best Practices in Higher
Education. In Handbook of Research on Cross-Cultural Business Education (pp. 68-88). IGI
Global
Daniel, B., 2015. B ig D ata and analytics in higher education: Opportunities and
challenges. British journal of educational technology, 46(5), pp.904-920
Zschieck, C., Weiss, F. and Wirz, P., 2016, August. Towards a framework for overcoming
the challenges of a sustainable ERP education at higher education institutions in sub-Saharan
Africa. In 2016 IEEE International Conference on Emerging Technologies and Innovative
Business Practices for the Transformation of Societies (EmergiTech) (pp. 218-221). IEEE.
Tuan, T.N., 2018. (By Invitation) Opportunities and Challenges for Business Education in
Viet Nam. Sankalpa, 8(1), pp.1-2.

12MANAGEMENT IN PRACTICE
Lima, E., Lopes, R.M., Nassif, V. and da Silva, D., 2015. Opportunities to improve
entrepreneurship education: Contributions considering Brazilian challenges. Journal of Small
Business Management, 53(4), pp.1033-1051.
Dyllick, T., 2015. Responsible management education for a sustainable world: The
challenges for business schools. Journal of Management Development, 34(1), pp.16-33
Burd, E.L., Smith, S.P. and Reisman, S., 2015. Exploring business models for MOOCs in
higher education. Innovative Higher Education, 40(1), pp.37-49.
Chin, J.L., Trimble, J.E. and Garcia, J.E. eds., 2017. Global and Culturally Diverse Leaders
and Leadership: New Dimensions and Challenges for Business, Education and Society.
Emerald Group Publishing.
Kodeih, F., 2016. Managing occupational identity and institutional pressure within French
business schools: Current challenges. Journal of Management Development, 35(2), pp.280-
292.
Becker, S.A., Cummins, M., Davis, A., Freeman, A., Hall, C.G. and Ananthanarayanan, V.,
2017. NMC horizon report: 2017 higher education edition (pp. 1-60). The New Media
Consortium.
Jibai, B., Alaaraj, H. and Issa, A., 2018. Developing SWOT/TOWS Strategic Matrix for E-
Banking in Lebanon. International Business and Accounting Research Journal, 2(1), pp.13-
22.
Černý, I., Vaněk, M. and Hubáček, J., 2018. New approach to evaluate the TOWS matrix and
its application in a mining company. Journal of the Southern African Institute of Mining and
Metallurgy, 118(12), pp.1297-1303.

13MANAGEMENT IN PRACTICE
Cox, A.M., Pinfield, S. and Rutter, S., 2018. Extending McKinsey’s 7S model to understand
strategic alignment in academic libraries. Library Management.
Ravanfar, M.M., 2015. Analyzing Organizational Structure based on 7s model of
McKinsey. Global Journal of Management And Business Research
Appendix
In response to the feedback that I received for the first assignment, I have tried to be
as diligent as possible when carrying out the literature review for the second assignment. I
have made a concerted effort to seek out peer reviewed works that hold full relevance to the
topic being worked on, and have analysed such works in relation to the significance that they
hold for the topic of the assignment. The works that I have analysed for this assignment are
centred round issues such as challenges for business education worldwide and the
competition that is seen to exist at the international level when it comes to imparting a
business education. In order to arrive at an accurate estimate of the steps that need to be taken
by RMIT University to emerge as the foremost centre for business education in Singapore I
have used the best marketing tools and strategies. I have paid full attention to the assignment
requirements this time around and have made sure that the analysis that I derived using the
marketing tools and strategies is a correct analysis that the RMIT University can fall back on
in order to truly become on the best places to be pursuing business studies at in Singapore.
Given that my performance in the last assessment was so poor, I have also made an
effort this time around to use the right sentences and have ensured the correct use of grammar
in order to make my assignment come across as one that is nice to read. I feel that the
assignment now is one that reads really well and which will certainly give readers the right
views and concepts that need to be considered in order to understand the ways by which the

14MANAGEMENT IN PRACTICE
RMIT University can emerge as a great place to be pursuing business studies at in Singapore.
I have been particularly selective regarding the use of references, picking only those scholarly
texts and works that contain the latest up to date and accurate information on the topic
concerned. All the sources that I have used for this assignment are peer reviewed, and are
definitely validated by leading scholars of business studies around the world. To make my
assignment this time around much more well researched and readable compared to the
previous assignment, I have also paid a great deal to its structure, with the literature review
having been done first, after which I proceeded with an analysis of the tools and strategies
that help explain how RMIT University can position itself as the finest institution to be
studying a business degree at in the city of Singapore.