This report analyzes the internal and external factors of the University of Wollongong, including strengths, weaknesses, PESTLE analysis, and Porter's six forces. It provides insights into the unique strategies followed by the university and the role of the external environment in influencing its activities.
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Running Head: STRATEGIC MANAGEMENT STRATEGIC MANAGEMENT Name of the Student: Name of University: Author Note:
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3STRATEGIC MANAGEMENT 1.0 Introduction The advent of globalisation enforces huge impact on the higher education sector and develops a competitive mind-set among the leading academic institutions (Ilieva, Beck and Waterstone 2014). The scenario in Australia is a bit complex where a number of academic institutions are competing each other to maximise students. In fact, the global image of Australia paves the way for the country to attract people all around the world especially from the Asian regions. Therefore, it is obvious that the high competition leads to carry out unique business and corporate strategy for the leading universities and colleges (Siddiqui 2014). Basedonthisunderstanding,thisreportaimstoputfocusontheUniversityof Wollongong and willing to analyse the internal factors in order to get a clear perception regarding the unique strategies that the university follows and the role of the external environmentthatinfluencestheorganisationalactivityofUniversityofWollongong intensely. Moreover, the financial projections and the strategic analysis are also incorporated into the discussion in order to develop a comprehensive report on University of Wollongong. 2.0 Background of the organisation The University of Wollongong is one of the famous public research university in Australia located in the coastal city of Wollongong, New South Wales. The university was established in 1951 as a division of the New South Wales University of Technology but got itsautonomyin1975asanindependentinstitution.ThecurrentVice-Chancellorof University of Wollongong is Paul Wellings and the number of academic staffs is 1,732 (uow.edu.au 2017). As a matter of fact, the university has 5 campuses in Australia along with
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4STRATEGIC MANAGEMENT a new campus that is going to establish in Dubai. Therefore, the magnanimity of this academic institution is clear with its intention to create better academic facilities for the students in both domestic and overseas. In addition to this, the mission and vision of the organisation is clearly mentioned in the website. The motto of the University is “stands for Purpose”. It means the organisation is highly concerned about the quality of education that it provides and ensure the effective development of the students with their innovative ideas and scientific visions. Moreover, the aim of University of Wollongong is to act as a global leader in discovering and learning and transformingpeopleandtheworldpositively(uow.edu.au2016).Therefore,certain objectivesareincorporatedintotheacademicandbusinessprocessofUniversityof Wollongong such as expanding the number of students, providing advanced academic facilities to the students, leading the world with high sense of innovation and scientific discovery. 3.0 Internal analysis 3.1 Strengths University of Wollongong is identified as one of the leading academic institution in New South Wales. A high range of academic departments with over 100,000 degrees, diplomas and certificate courses are contributed effectively to maximise the students. There are more than 30,000 students who are belonged to the University of Wollongong and most of the students are belonged to the local Illawarra region (uow.edu.au 2017). However, a massive number of offshore students are also get enrolled in the university with their high expectation to get advanced academic infrastructures and quality academic faculties. One of the major aspect for
5STRATEGIC MANAGEMENT the University of Wollongong is its high profile research facilities. For instance, a joint initiative with the Illawarra Health and Medical Research Institute and the University of Wollongong intends to deliver better health and wellbeing of the local communities. Moreover, excellence in the medical research through innovation helps the university to foster effective means of modern healthcare benefits to entire world. 3.2 Weaknesses Despite of the benefits and advantageous position in the Australian academic market, the University of Wollongong also faces some challenges in course of facilitating better education practices.Forexample,in2016,TheAustralianreportedthatdiscriminationagainstthe international students in the post graduate program was clearly prevalent in University of Wollongongand thesupervisory councildid not takeany measureto resolvetheissue (Loussikian 2016). In addition to this, serious allegation was posted against the university in terms of sexual assault (Funnell 2016). Therefore, it questioned the educational environment within the organisation and the role of the university administrator to handle the situation effectively. According toBrøgger(2014) academic expenses are referred as one of the principle aspect that the academic universities are concerned of. It helps them to maximise the students with offering advanced and unique facilities and benefits for the researchers. However, in case of University of Wollongong, the academic expenses is a bit high and it can restrict the student admission.
6STRATEGIC MANAGEMENT 4.0 External analysis 4.1 PESTLE analysis 4.1.1 Political As far as the political factors are concerned, the Political Stability Index of Australia showed that a steady political growth is the key feature of Australian politics. In 2016, the Political Stability Index touches its peak with 1.05 points. Besides this, the effectiveness of the government is also highlighted a promising figure with 1.54 point in 2017 (Figure 1). It clearly indicates that the government is highly efficient to make a better environment within the country. In this regard, educational sectors are considered to be one of the major business industry within Australia and the government is responsible to facilitate the initial advantages to the educational organisations. It seems to be an advantage for the University of Wollongong to develop the academic facilities more effectively and efficiently. 4.1.2 Economic Australia is defined as a developed country so that it is obvious for the nation to enjoy a steady growth in its economy. According to the World Bank Report, the average economic growth that the country enjoys is estimated at 2.5% (Figure 2). This is highly promising for the business organisation to get the chance to expand business profoundly. In association to this, the Consumer Price Index within the country has been increased at a rapid pace. It also provides the business companies some sort of assurance of buying capacity. For the educational business institutions as well it creates profitable opportunities. Therefore, University of Wollongong also has opportunities to get benefits from the well-developed economic situation in Austrtalia.
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7STRATEGIC MANAGEMENT 4.1.3 Social In the educational spectrum the Australian citizens are liked to get education in a secondary level. The UNESCO report on educational spending in Australia based on the GDP confirmed that an average of 5.2% optimistic value can be seen (Figure 3). Moreover, the government also takes responsibility to increase the amount of educational spending. From the Figure 4 it can be argued that the Australian government always took great concern about the educational sector. The government endorsement and the public willingness are providing impetus for the educational organisations to encapsulate the Australian market dominantly. Since, 1990s there is a change in the educational sphere and more people are getting interested about education even higher education as well. The Secondary school enrolment statistics shows that in 2016, percentage of admission was more than 150% which is very significant (Figure 5). AsaresultofthatitbecomesbeneficialforUniversityofWollongongtofostermore development into the organisational set up. 4.1.4 Technological In the technological field, there are some ruptures inside Australia. For an instance, the Innovation index points out that there is a decline in innovation where in 2015 the innovation index value was 55.2 and it dropped robustly at 52 points (Figure 6). In this conjecture, it becomes important to install more progress in innovation. The academic organisations are playing pivotal role in bringing more efficacy and innovativeness within the educational field so that the students will enrich and inculcate their scientific minds. The research and development expenditure is also increased in a rapid pace and that connotes the development in technology and innovation. As per the current report, the growth in R&D expenditure is increasing steadily which seems to be a good news for the academic institutions. This decline in the technological
8STRATEGIC MANAGEMENT sector creates an urge for University of Wollongong to deliver advanced mode of innovation and researches. 4.1.5 Legal The regulatory quality of the Australian government is highly strong with an average quality of 1.71point (Figure 7). The quality of regulation also fostered a great deal of restriction on illegal and unethical breach of customer privacy and leaking confidential documents. The Australian Trading Council and the Fair Work Act are considered to be the most effective and promising acts that could bring more efficiency into the fair work environment in Australia. It will also help the business farms to do their business peacefully and earn profits in a fair manner. In fact, the University of Wollongong also has its own regulatory framework that can create certain influences on flourishing the academic practice of the university. 4.1.6 Environmental As far as the environmental aspect is concerned, Australian government puts a great deal of focus on maintaining the ecological balances throughout the country. Therefore, a series of legal and ethical formulations have been followed. In fact, the business organisations are also used the sustainable approach as a tool of their market capitalisation. Therefore high sense of environmental sustainability is the core of business practice in Australia. The educational sector is also taking part in such activities in order to create an environmental friendly next generation. The eco-friendly nature of University of Wollongong provides it a strategic advantage in Australia to maximise students.
9STRATEGIC MANAGEMENT 4.2 Porter’s six forces 4.2.1 Competitive rivalry In New South Wales, the academic sector is highly flourished with a range of universities and colleges. Most of the colleges and universities have international standard of infrastructure forboththedomesticandoverseasstudents(Ibisworld.com.au2018).Themostfamous universities in NSW are University of Sydney and Australian Catholic University. Therefore, high competition among the universities is common and University of Wollongong tries different and unique facilities to maximise the number of students. Moreover, keeping the quality of education is also a significant aspect that the NSW universities are willing to maintain. As a result of that high competition and healthy rivalry among the universities is evident for University of Wollongong to flourish in NSW. 4.2.2 Power of suppliers According to,austrade.gov.au(2016) in the higher education sector the suppliers are mainly referred as the teachers and faculties. It is always been a pertinent aspect for the universities to retain their best faculties that is one of the major tool for maximising students. However, in case of University of Wollongong, a range of professors both in domestic and overseasmarketcreateslesspowerofthesuppliers.Infact,theuniversityoffershuge remuneration for the faculties. Therefore, it seems highly profitable and effective for the suppliers to associate themselves with the institutions. The power of the suppliers is low in compare to the interests of the universities.
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10STRATEGIC MANAGEMENT 4.2.3 Power of buyers Form the research ofMarginson(2015) power of buyers is always considered to be critical for the academic institutions in Australia. A range of universities and colleges creates lots of options for the buyers in terms of the students to choose the best one as per their requirements. Therefore, University of Wollongong always puts extra effort to maintain best quality faculties with budget effectiveness for the national and overseas students. Besides this, additional benefits in terms of scholarships and stipends are also used to attract the students. Therefore, in NSW higher education the students hold high power value. 4.2.4 Threat of substitutions Bauder(2015) opined that there are limited scope for substitution in the Australian educational sector as it is obvious that the universities and colleges are the main institutions where the student can get their degree. Therefore, threat of substitution is less vulnerable for University of Wollongong. On the contrary,Tarrantet al.(2014) advocated that technological advancementcreateshuge impact on the educational sectors where the students can get knowledge at home. Nevertheless, they require academic degree or qualification to get establish in their career and University of Wollongong is solely offered them higher education degrees. 4.2.5 Threat of new entrants In the Australian higher education sector especially in NSW, there is little scope for the new institutions to enter into the market. Most of the universities are traditional and have a long history of excellence. Therefore, it will be huge problem for any new entrant to survive in the NSW higher education sector. Nonetheless,Li(2014) commented that in the international market it will be a challenge for the Australian higher education sector to establish itself. There is always pressure for the University of Wollongong to maximise students and build up an identity
11STRATEGIC MANAGEMENT thorough international standard of facilities and faculties. Therefore, the threat of new entrants is moderate. 4.2.6 Scope of complimentary industry It is true that the higher education is flourished like a business entity and in Australian there are high chances for higher education sector to set up itself profoundly. A range of complimentary industries like hospitality, information technology and other sectors are also identified as complimentary industry because of the promising aspect for institutions like University of Wollongong to generate high class human resources (Nadtochyet al.2016). Therefore, it will be wrong to judge the Australian higher educational sector as an isolated and unprofitable industry. 5.0 SWOT analysis StrengthsOpportunities Huge range of educational departments fromscience,engineeringand humanities to advanced level study in health, law and international studies. Famous for its tradition and culture to strive for excellence. More than 30,000 students including approximately13,000international students. Rankedamongthetop20best Leadingtowardsoneofthebiggest university in NSW. International image of the university is also identified as a significant tool. Governmentendorsementformore development in research. Promising higher education market in Australia.
12STRATEGIC MANAGEMENT universities in the World. One of the highest rated universities in Australiaintermsofengineering, communications and teacher education. WeaknessesThreats Internationalstudentsreported discriminationwithintheUniversity campus. Incidents like sexual assault are also happened in University of Wollongong. Lack of faculty management that brings challengestothedevelopmentof internationalstandardacademic facilities. The educational charges are so high that not all the eligible students can get admission. High competitiveness in the market. LackofinnovationinAustralia questions the efficacy of the standard of educational system in the universities. Unethical practices like discrimination and sexual assaults are damaging the image of the university. 6.0 Business level strategy As far as the business level strategy of University of Wollongong is concerned, it can be stated that the university management tries to keep a diverse range of academic opportunities for the students. For instance, in the Council meeting in 2017, the members of the University of
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13STRATEGIC MANAGEMENT Wollongong’s decision making body decided to take a number of measures in terms of introducingnewdegreesanddiplomasfornewstudents.Thepurposeoftheproduct differentiation strategy is to offer different product and services to the target customers for getting unique market position in the highly competitive market.Min, B.S. and Falvey(2018) articulated that product diversification is highly effective in the competitive market as it generates a diversion among the competitors by presenting an exclusive product or service for a particular organisation. Presently, there are more than 100,000 degrees, diplomas and certificate and with a dynamic range of subjects. Moreover, the council also put emphasis on the research standards and facilities that will help them to bring more effectiveness in the quality of education. As a result of that a mixed differentiation practice is prevalent in University of Wollongong. In the horizontal mode UOW tries to offer a range of academic courses to the students. As a result of that the quantity of academic courses helps to maximise the students as well (D. Banker Mashruwala and Tripathy 2014). On the other hand, the university also emphasises on the quality of the services in terms of incorporating advanced educational facilities and infrastructure in terms of the academic faculties so that it will attract most number of students. 7.0 Corporate level strategy In the corporate level, University of Wollongong tries to expand its academic campuses in domestic and international level. The purpose of the university management is to maximise the onshore and offshore students extensively so that the profitability of the institution will be increased rapidly (Brenes Montoya and Ciravegna 2014). Therefore, market expansion is referred as one of the major aspect on which the management puts focus on.Blocket al.(2015)
14STRATEGIC MANAGEMENT pointed out that market expansion strategy emphasises on delivering the existing products and services in the new market. For instance, the institution has already initiated its dream project in Dubai with its new campus at Dubai Knowledge Park. The new campus will be opened in 2020 (uow.edu.au 2017). Moreover, in Hong Kong and Kowloon also the University opened their branch in 2017 for higher education. One of the major reasons for University of Wollongong to expand its activities outside Australia is that existing market in Australia is reaching at a saturation point and there is no scope for the business organisations to expand further (Löfgren 2014). Therefore, overseas expansion is considered to be an effective and strategic measure for the University of Wollongong to maximise not only the students but it is also helpful for the organisation to increase its profitability.It clearly pointed out the intention of the University of Wollongong to expand its branches outside Australia and enrolled more students who are smart and talented to get admission in the university (Thorsøe and Noe 2016). 8.0 Functional level strategies 8.1 Marketing strategy One of the most important strategic measure that University of Wollongong follows is related to maximising the students. In this regard, the organisation has to put a great deal of focus on the marketing strategies. Essentially, University of Wollongong tries to get students from different national and international education fair. It is helpful for the institution as huge number of student gatherings in those fairs will help the organisation to make a direct face to face interaction with the students (Jensen, Cobbs and Groza 2014). Moreover, using digital marketing through the official website of the university and in social media are also beneficial for the
15STRATEGIC MANAGEMENT UOW. AsGollnhofer and Turkina(2015) opined that social media marketing is highly effective in current scenario to attract the overseas students. 8.2 HR strategy The HR strategy of UOW is based on the quality of leadership in order to facilitate a transforming workplace with special care for the staffs and faculties. The organisation believes that leadership is highly important to get adequate market capitalisation because one of the major product of an academic institution is its advanced facilities and exclusive faculties (McCleskey 2014). Therefore, UOW tries to promote a safe and supportive workplace in accordance with the transformationalleadershipstyles.VanDierendoncketal.(2014)mentionedthatthe transformational leaders are taking great care of the employees or team members and motivates them to participate in the decision making process. Similarly, UOW is also willing to implement a transformational leadership that can foster a pro-active staff engagement and communication based on its strategic measures to formulate better working environment within the organisation (Jayneet al.2014). Accompanied with this, change and opportunity are also defined as important strategic measures on which UOW emphasises a lot. 8.3 Product strategy Making a difference on the basis of role of higher education quality is a pertinent strategic measure that UOW is opting for its sustainable operations. Therefore, the organisation is trying to use product differentiation strategy in order to maximise the students and capitalise the market profoundly (Xiao, Choi and Cheng 2014). In fact, embracing change and opportunity is also pushed UOW to offer different products in terms of research facilities with other benefits that are supposed to attract the students extensively. The product differentiation strategy leads to
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16STRATEGIC MANAGEMENT bring a unique position in the market with offering innovative benefits and specifications associated with the advanced academic benefits (Su, Baird and Schoch 2015). 9.0 Organisational strategy In University of Wollongong, the management sets the organisational strategy based on the divisional structure. As per the research ofBattistella(2014) it can be argued that in the divisional structure each division has its own function and necessary resources that are unique and exclusive. Moreover,Bark, Kragt and Robson(2016) asserted that the divisional structure can be based on a multi-divisional structure where each and every department has different role to play but entirely focusing on the singular mission of organisational development. Relying on the divisional structure, University of Wollongong has different divisions with specific roles to play. For instance, the senior executive management is the leading branch focusing on progress and quality of the organisation. Moreover, the legal aspect is also incorporated into the jurisdictionoftheseniormanagement.Nevertheless,therearedifferentseniorexecutive members with separate job specification. For an instance, the Chief Administrative Officer puts focus on the administrative matters like facility management division, student service division and so on (uow.edu.au 2017). On the other hand, the Dean of Research is associated with the responsibility to deal with the research services, graduate research schools and global challenges program. Besides this, the academic faculties are directly under the supervision of the Vice Chancellor. Moreover, the Principal also focuses on the business assurance and the government relations office to get adequate support from the Australian government and state authority.
17STRATEGIC MANAGEMENT 10.0 Financial analysis 10.1 Return on Invested Capital (ROIC) = Net operating profit/ operating capital 20172016 ROIC0.420.44 From analysing the ROIC of the company it has been observed that this ratio indicates a decreasing trend in the year 2017 in comparison to the year 2016. Such decrease in the company’s return on invested capital is detected asUniversity of Wollongong as it is not being able to attain enough profits for each dollar the university invested in its operating capital. Such decrease also signifies that the company is facing concerns regarding ensuring high student enrolments in all its educational programs offered. 10.2 Return on Assets (ROA) = Net income/ total assets 20172016 ROA0.030.04 Analysis of ROA of the company indicates that this ratio forUniversity of Wollongong has decreased in the year 2017 in comparison to the year 2016 as it is not being able to attain a profitable return on its invested assets. This has resulted as the educational courses of the university are failing to attain sufficient program enrolments that are not contributing to its overall revenue. Moreover, it is also facing an increasing concern in introducing sufficient tertiary qualifications for the graduates looking for such courses.
18STRATEGIC MANAGEMENT 10.3 Current Ratio = current assets/ current liabilities 20172016 Current ratio 2.72.5 After evaluating the current ratio ofUniversity of Wollongong it is gathered that this ratio for University of Wollongong has increased in the year 2017 in comparison to the year 2016. Such decrease in the current ratio signifies that the university is dealing with issues in addressing all its short term obligations and clearing its debt in an effective manner because of its decreased student enrolments. For this reason, it is not being able to maintain its financial liquidity through addressing its current obligations. 11.0 Strategic analysis The Australian educational sector is highly profitable and with the revenue generation of $33 billion. In fact, the annual growth in the market is estimated at 2.9% (Kalimullin and Dobrotvorskaya2016).Therefore,itishighlylucrativeandprofitablefortheacademic organisations to invest extensively in the Australian educational industry. Therefore, competition in the market is also inevitable in Australia. As a result of that the Australian universities are using unique marketing and organisational measures in order to sustain business profoundly. The latest data on the Australian academic market stated that an overall growth of 12.6% can be seen in 2015 (Ashley and Tuten 2015). It is coupled with the globalisation strategy where product diversificationisthecoreperceptionofdoingbusinesssustainably.Therefore,boththe
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19STRATEGIC MANAGEMENT integration of vertical and horizontal differentiation strategy is required for University of Wollongong in order to achieve the strategic goals of the organisation properly. 12.0 Conclusion Based on the understanding of the above research, it can be derived that the report is clearly portray the situation of University of Wollongong in both internally and externally. In the external perspective, the government endorsement and the steady economic growth attached with the social and cultural diversification pave the way for the university to create better market orientation. However, the high competitiveness in the Australian market reached its saturation point where the existing universities and academic institutions have no scope to expand their campuses within the country. As a result of that in the business and corporate level University of Wollongong puts emphasis on the overseas market expansion with quality of products in terms of a range of academic courses. Moreover, the divisional structure of the organisation creates a strategic advantage to resolve the issues effectively. Moreover, the financial reporting of the organisation also corroborates the fact that in Australia University of Wollongong faces immense challenges that drives the university to transform its business strategy extensively. Therefore, it can be concluded that the report rightly points out the different perspective of the business situation of University of Wollongong and points out the measures that the organisation is going to follow in order to resolve the challenges pro-actively.
20STRATEGIC MANAGEMENT 13.0 Reference Ashley, C. and Tuten, T., 2015. Creative strategies in social media marketing: An exploratory study of branded social content and consumer engagement.Psychology & Marketing,32(1), pp.15-27. austrade.gov.au, 2016.The Australian education system. [online] Austrade.gov.au. Available at: https://www.austrade.gov.au/edtech/the-australian-education-system/ [Accessed 19 Apr. 2019]. Bark, R.H., Kragt, M.E. and Robson, B.J., 2016. Evaluating an interdisciplinary research project: Lessons learned for organisations, researchers and funders.International Journal of Project Management,34(8), pp.1449-1459. Battistella, C., 2014. The organisation of Corporate Foresight: A multiple case study in the telecommunication industry.Technological Forecasting and Social Change,87, pp.60-79. Bauder,H.,2015.Theinternationalmobilityofacademics:Alabourmarket perspective.International Migration,53(1), pp.83-96. Block, J.H., Kohn, K., Miller, D. and Ullrich, K., 2015. Necessity entrepreneurship and competitive strategy.Small Business Economics,44(1), pp.37-54. Brenes, E.R., Montoya, D. and Ciravegna, L., 2014. Differentiation strategies in emerging markets: The case of Latin American agribusinesses.Journal of Business Research,67(5), pp.847-855. Brøgger, K., 2014. The ghosts of higher education reform: On the organisational processes surrounding policy borrowing.Globalisation, Societies and Education,12(4), pp.520-541.
21STRATEGIC MANAGEMENT D. Banker, R., Mashruwala, R. and Tripathy, A., 2014. Does a differentiation strategy lead to moresustainablefinancialperformancethanacostleadershipstrategy?.Management Decision,52(5), pp.872-896. Funnell, N. (2016).The shocking way sexual violence is handled at Australian universities. [online] NewsComAu. Available at: https://www.news.com.au/lifestyle/real-life/news-life/the- shocking-way-sexual-violence-is-handled-at-australian-universities/news-story/ fdb2f5d827ee8f6f4c124af11847aa25 [Accessed 19 Apr. 2019]. Gollnhofer, J.F. and Turkina, E., 2015. Cultural distance and entry modes: implications for global expansion strategy.Cross cultural management,22(1), pp.21-41. Ibisworld.com.au, 2018.University and Other Higher Education – Australia Industry Report | IBISWorld.[online]Ibisworld.com.au.Availableat:https://www.ibisworld.com.au/industry- trends/market-research-reports/education-training/university-other-higher-education.html [Accessed 19 Apr. 2019]. Ilieva, R., Beck, K. and Waterstone, B., 2014. Towards sustainable internationalisation of higher education.Higher Education,68(6), pp.875-889. Jayne, T.S., Chapoto, A., Sitko, N., Nkonde, C., Muyanga, M. and Chamberlin, J., 2014. Is the scramble for land in Africa foreclosing a smallholder agricultural expansion strategy?.Journal of International Affairs,67(2). Jensen, J.A., Cobbs, J. and Groza, M.D., 2014. The niche portfolio strategy to global expansion: The influence of market resources on demand for Formula One racing.Journal of Global Marketing,27(4), pp.247-261.
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22STRATEGIC MANAGEMENT Kalimullin, A.M. and Dobrotvorskaya, S.G., 2016. Higher Education Marketing Strategies Based onFactorsImpactingtheEnrollees'ChoiceofaUniversityandanAcademic Program.International journal of environmental and science education,11(13), pp.6025-6040. Li, I.W., 2014. Labour market performance of Indigenous university graduates in Australia: An ORU perspective.Australian Journal of Labour Economics,17(2), p.87. Löfgren, A., 2014. International network management for the purpose of host market expansion: The mediating effect of co-innovation in the networks of SMEs.Journal of International Entrepreneurship,12(2), pp.162-182. Loussikian, K, 2016.University of Wollongong finds foreign students get raw deal. [online]The Australian.Availableat:https://www.theaustralian.com.au/subscribe/news/1/? sourceCode=TAWEB_WRE170_a&dest=https%3A%2F%2Fwww.theaustralian.com.au %2Fhigher-education%2Funiversity-of-wollongong-finds-foreign-students-get-raw-deal %2Fnews-story %2F7083b63eb87db4ceed31a748cc30aed6&memtype=anonymous&mode=premium [Accessed29 June2016]. Marginson, S., 2015. Is Australia overdependent on international students?.International Higher Education, (54). McCleskey, J.A., 2014. Situational, transformational, and transactional leadership and leadership development.Journal of Business Studies Quarterly,5(4), p.117. Min, B.S. and Falvey, R., 2018. International student flows for university education and the bilateral market integration of Australia.Higher Education,75(5), pp.871-889.
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24STRATEGIC MANAGEMENT uow.edu.au,2017.2017AnnualReport.[online]Uow.edu.au.Availableat: https://www.uow.edu.au/content/groups/public/@web/@media/documents/doc/uow247772.pdf [Accessed 19 Apr. 2019]. Van Dierendonck, D., Stam, D., Boersma, P., De Windt, N. and Alkema, J., 2014. Same difference?Exploringthedifferentialmechanismslinkingservantleadershipand transformational leadership to follower outcomes.The Leadership Quarterly,25(3), pp.544-562. Xiao, T., Choi, T.M. and Cheng, T.C.E., 2014. Product variety and channel structure strategy for a retailer-Stackelberg supply chain.European Journal of Operational Research,233(1), pp.114- 124.
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25STRATEGIC MANAGEMENT Appendices Appendix1 Figure 1: Political stability in Australia (theglobaleconomy.com 2019) Appendix 2 Figure 2: Economic growth in Australia
26STRATEGIC MANAGEMENT (theglobaleconomy.com 2019) Appendix 3 Figure 3: Educational spending in Australia (theglobaleconomy.com 2019) Appendix 4 Figure 4: Government spending on Education
27STRATEGIC MANAGEMENT (theglobaleconomy.com 2019) Appendix 5 Figure 5: School enrolment in Australia (theglobaleconomy.com 2019) Appendix 6 Figure 6: Innovation index in Australia
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