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BUSINESS PLAN: BRANDING IBA

Prepared for: Dr. A K M Saiful Majid Professor Course Instructor: Entrepreneurship

Prepared by: Maleeha Tarannum BBA, 18th Batch RQ 106 Section: B

Institute of Business Administration University of Dhaka 21 January, 2013

Contents
FOREWORD: .................................................................................................................................................. 5 EXECUTIVE SUMMARY: ................................................................................................................................. 7 The Need of Branding Academic Institution: ............................................................................................ 7 Need of Branding IBA: ............................................................................................................................... 7 Industry Analysis: ...................................................................................................................................... 7 Stakeholder Analysis: ................................................................................................................................ 8 Competitor Analysis: ................................................................................................................................. 8 Benchmarking: .......................................................................................................................................... 8 Branding Objective:................................................................................................................................... 8 Branding: ................................................................................................................................................... 8 Brand Evaluation: ...................................................................................................................................... 9 DESIGN OF BRANDING PLAN AT A GLANCE: ............................................................................................... 11 1. 2. 3. OBJECTIVE OF BRANDING IBA, DU: ..................................................................................................... 11 The MASCOT: ...................................................................................................................................... 12 WEBSITE: ............................................................................................................................................. 12 4.1 Basic Concept of Website: ................................................................................................................ 13 4.2 Will the Website Idea work? ............................................................................................................. 13 4. 5. Tagline: ................................................................................................................................................ 13 Our Identity, Our Dream, Our Passion, Our Promise: ......................................................................... 14 5.1 5.2 5.3 5.4 6. Reasoning Identity: ..................................................................................................................... 14 Dream-Passion & Mission-Vision Complication: ......................................................................... 14 Confinement of Dream & Passion to Asia: Rationale: ................................................................ 14 Our Promise sounds Emotional; Is It? ......................................................................................... 15

TV Commercial of IBA in YouTube & other websites: ......................................................................... 15 6.1 6.2 Make Ad, Promote IBA: ........................................................................................................... 15 Rationale: .................................................................................................................................... 15

Restructuring Students Communication Club: .......................................................................................... 15

7.1 Why Restructuring? .......................................................................................................................... 15 7.2 Complications regarding Restructuring: ........................................................................................... 16 7.3 Why Categorizing Communication Club? ......................................................................................... 16 7.4 Organizing Competition: ................................................................................................................... 16 7. Placement Center: .............................................................................................................................. 16 7.1 7.2 7.3 7.4 8. 9. 10. 11. 11.1 12. 13. 14. 15. 15.1 15.2 15.3 15.4 16. 17. What is Placement Center?......................................................................................................... 16 Why Placement Center? ............................................................................................................. 16 Collaboration between placement center & Corporate Organizations: ..................................... 16 Impact of Placement Center: ...................................................................................................... 17

Scholarship & Study Tour: ................................................................................................................... 17 Collaboration with Rokeya Hall for facilitating accommodation to female students: ....................... 17 Partnership with Corporate Organizations: .................................................................................... 17 Policy Issue: ..................................................................................................................................... 17 Crucial Factors in Quality of Education affected by Policy: ........................................................ 18 Strategic Partnership with DU: ....................................................................................................... 18 Partnership with Icche Gari: ........................................................................................................... 18 Financial Analysis: ........................................................................................................................... 19 Evaluation: ...................................................................................................................................... 19 Evaluation Tool: .......................................................................................................................... 19 Brand Report Card: ..................................................................................................................... 19 Our Brand Report Card: .............................................................................................................. 19 How to prepare our Brand Report Card: .................................................................................... 20 Feedback & Control: ....................................................................................................................... 20 INDUSTRY ANALYSIS:....................................................................................................................... 21

At a Glance: The Breakdown of Education Industry: .............................................................................. 21 18.1 Higher Education across Globe: ...................................................................................................... 21 18.1.1 Top 10 countries in regard with tertiary education: ( (Yahoo!Finance, 2012) ........................ 21 18.1.2 Quality Indicator of Higher Education: ........................................................................................ 21 18.2 Business Education in Asia: ............................................................................................................. 23 18.3 Business Education in Bangladesh: ................................................................................................. 23

18.3.1 Hope & Frustration regarding Quality of Business Education provided by Public Universities: . 23 18.3.2 Hope & Frustration regarding Quality of Business Education provided by Private Universities: ............................................................................................................................................................ 24 18. Institution Analysis:......................................................................................................................... 25

19.1 PESTLE Analysis: .............................................................................................................................. 25 19.2 SWOT Analysis: ............................................................................................................................... 26 19. Competitor Analysis: ....................................................................................................................... 26

20.1 Mission of our Competitors: ........................................................................................................... 26 20.2 Vision of our Competitors: .............................................................................................................. 27 20.3 PESTLE Analysis ............................................................................................................................... 27 20.4 SWOT Analysis of NSU, Business School: ........................................................................................ 28 20.5 SWOT Analysis of Faculty of Business Studies, DU ......................................................................... 29 21. Competition Analysis: (CSF Matrix) ...................................................................................................... 29 22. Benchmarking: ................................................................................................................................ 29

22.1 Business Schools selected for Benchmarking: ................................................................................ 29 22.2 Benchmarking & Comparison: ........................................................................................................ 30 23. Stakeholder Analysis: ...................................................................................................................... 30

Appendix: .................................................................................................................................................... 31 14.1.2 Trend in Higher Education across Globe, 2012: ....................................................................... 31 14.1.3 Effect of Recent Recession around World on Higher Education: ............................................ 31 14.1.4 Higher Education in regard with Educational Background of Parents:.................................... 31 14.1.5 Higher Education in regard with Gender Equity: ..................................................................... 31 14.1.6 Diversity in Higher Education in Europe: ................................................................................. 31 Higher Education in the Context of Cost of Higher Education in OECD countries: (OECD, 2012) .......... 32 Assessing Quality of Higher Education around World: ........................................................................... 33 Business Education in World: ................................................................................................................. 33 Business Education in Europe: ............................................................................................................ 33 Business Education in America: .......................................................................................................... 34 Sigh of Relief?...................................................................................................................................... 34 Why Business Education in Asia? ............................................................................................................ 34

Why Business Education is experiencing Growth in Asia? .................................................................. 34 Business Education Trend in Asia: .......................................................................................................... 35 Business Education in Asia: Challenge .................................................................................................... 35 Prospect: ................................................................................................................................................. 35 Business Education & School Association in Asia: .................................................................................. 35 Business Education in Bangladesh: ......................................................................................................... 36 Types of Business Education provided:............................................................................................... 36 Types of Academic Institutions providing Business Education: .......................................................... 36 Public Institutions in Bangladesh those provide business education: ................................................ 36 Complications in Relation between Quality & Cost of Education....................................................... 37 Benchmarking: ............................................................................................................................................ 38 National University of Singapore Business School (NUS Business School): ............................................ 38 Indian Institute of Management, Bangalore:.......................................................................................... 39 Market Analysis:.......................................................................................................................................... 42 Consumer Identification: ............................................................................................................................ 42 Definition of ............................................................................................................................................ 43

EXECUTIVE SUMMARY:

his is the time when education actually is being industrialized. Universities and colleges not only seek to adapt to a more established national and international education market they must also adapt to new government policies that address how higher education institutions should be run and organized. Practices such as performance management, entrepreneurialism and new models of financing and governance are only some of the reform waves that contribute to the transformation of higher education institutions today. As a result higher education sector has begun to function like an industry and that the modern university now seems more like a stakeholder university than a republic of scholars. As higher education is being industrialized, modern academic institutions are getting prepared to cope up with the new concept by branding themselves. Thus, branding higher education is a very recent trend in higher education. When the term branding comes with business education in Bangladesh its not surprising that the first mover will be Institute of Business Administration, University of Dhaka. Being the pioneer as well as the market leader in providing business education in Bangladesh, IBA easily recognizes the

significance of branding itself despite being academic institute. However, the focus of branding is not attracting young people to become prospective student. IBA, DU is confident that brand loyalty is very high among its consumers. Here, consumers imply not only current but also prospective student. The most talented young people through the country who are actually dedicated to business education perceive IBA as their dream and passion. So, right now, IBA should focus on how to retain this brand loyalty. Its very unfortunate that the leading business school in the country has little international exposure. Also, scope for research is very limited. It is noteworthy how business school is actually being globalized across globe. The corporate world itself is being globalized. Business education is just reflecting this trend. So to be a proud member of global business education, IBA should focus on collaboration and partnership with business schools across globe. This paper will actually focus on how to make the brand IBA, DU popular, trustworthy and reliable and above all how to make a distinguishable place for IBA, DU in business education across globe.

EXECUTIVE SUMMARY:
The Need of Branding Academic Institution:
World is experiencing decline in higher education. Recent recession around world has resulted in job decline which affects the demand of business education around world. There is job prospects but in STEM sector. Asia is emerging as the growth machine of world economy right now. Asian corporate bodies are embracing MBA graduates. Asia is experiencing growth in business education. In the growth stage, the business education sector is considered to be industrialized. To cope up with the industrialized business education sector branding academic institute is emerging as a trend. Some of the Asian business schools have been able to gain place in top ranking in world. Critical success factors of top ranking business schools are: competitive environment, global exposure, accreditation, exchange programs, placement programs, academic stuffs etc.

Need of Branding IBA:


IBA is the leading business school in Bangladesh. IBA is nowhere in world ranking. IBA is nowhere in top ranking in Asia. IBA has not developed some of the critical factors like exchange programs and accreditation. The immediate competitor NSU is advancing smoothly. NSU has developed collaboration with foreign universities that is very critical to attain global exposure. To maintain the brand value IBA can not but focus on critical success factors. To attain goal exposure there is no alternative of branding IBA.

Industry Analysis:
7 public universities are providing business education in Bangladesh. National university and Bangladesh Open University are providing business education. A number of private universities are providing business education but quite a few of them are trustworthy and noteworthy. Main problem in public universities are lack of infrastructure.

Main problem in private universities is high tuition fees. Overall Demand of business education in Bangladesh is increasing rapidly.

Stakeholder Analysis:
Stakeholders of IBA are: students, corporate organizations, foreign universities and donors.

Competitor Analysis:
Major competitors are: NSU Business school, DU FBS & IBA, JU. NSU is politics free. NSU is the highest charging private university. NSU is bound by PU Ordinance. NSU has developed collaboration with foreign universities. NSU has developed exchange program. FBS, DU & IBA, JU experience campus violence. FBS, DU & IBA, JU have yet to gain global exposure.

Benchmarking:
NUS Business school and IIMB have been selected to benchmark. Both these institutions have global exposure. These 2 are 1st & 3rd in top ranking business school in Asia respectively. Both these institutions have global accreditation Both these institutions have faculty members from different countries of the world. Both these institutions have enough research opportunity. IIMB produces post graduate only.

Branding Objective:
Attracting Donors Attaining global exposure Retaining brand loyalty

Branding:
Brand Identity Brand Dream Brand Passion Brand Promise Brand Mascot Official Website TVCs Collaboration with Corporate World

Collaboration with donors Collaboration with Dhaka University Collaboration with Rokeya Hall Scholarship program Volunteering for Icche Gari Restructuring Communication club

Brand Evaluation:
Evaluation tool: Brand Report Card Continuous control and feedback.

DESIGN OF BRANDING PLAN AT A GLANCE:


IBA, DU is an academic institute. Branding academic institute is not similar to branding a corporate organization. Traditional structure of developing business plan has been avoided consciously. Our focus of branding is to turn the institute distinguishable in world map. As a result, we are very conscious of making the basic plan unique. Experimentation has been done in regard with the design of the branding plan. We have placed the core activities what we are going to do actually at the very first place of the whole plan. The rational behind each of our activities has been explained later while discussing traditional factors like industry, market etc. Our branding focuses not only the students but also all the stakeholders. Service like higher education must not be confined to the perception of students; the corporate world, foreign universities, donors all play important role in ensuring the total quality of the education. As a result, we have consciously avoided the term market in our plan. Instead we have embraced the term stakeholders. Instead of doing market analysis we have done stakeholder analysis. Why we have worked on stakeholder analysis instead of market analysis also explains why we have designed our brand for our target audience instead of target market. We have experimented with a new approach namely Benchmarking. As our ultimate goal is to be branded internationally first we have to identify where we are lagging behind in respect with global business education. That is why, we have taken 2 Asian business schools for benchmarking to identify where we are laggings behind as well as to identify the way out.

1. OBJECTIVE OF BRANDING IBA, DU:


We are placing our objectives of branding here so that the readers can easily catch why we are doing the whole things. Knowing the objectives will make it easier for them to match our objectives and our activities:

Retaining brand loyalty Attaining Global Exposure Attracting Donors Developing Collaboration with Corporate World

2. The MASCOT:

Why Mascot?? Being an institute under Dhaka University, we are not allowed to develop our own logo. There is no such restriction in regard with developing a mascot and we can embrace the concept

LUCROR

What the Mascot Implies? The mascot is the representative of easygoing IBAites in all situations and their capability to win business competition, participate in game & sports despite the pressure of formal education.

Where to use the Mascot: Lucror will represent the students of IBA in business competition, branding competition, games and sports and annual picnic. The most important application of our mascot is in our institutions official website.

3. WEBSITE:
The world is being digitalized. Bangladesh is also running foreword. In this digitalized society, young people get the first impression of anything from internet. As our focus is to attain global exposure we want business students from each corner of the world will be impressed at the first sight of our institution. The virtual reflection of our institution will be enough to convince them that we are indeed unique, in all respect. Thats why, we have given extra effort to design our official website. Due to time and budget constraint, the website has not been developed. However, the design will be described in detail.

4.1 Basic Concept of Website:


Whenever anyone will google us and Little use visit our website, after they open our of Text link Lucror will welcome them. Then Lucror will guide them in the virtual Embedded Animation tour to IBA, DU. During this tour, the Vedio Work visitor will discover video link. The first video will show our honorable Unique director with his speech. Now, when Website we visit the website we can read the message of the director. The video will be nothing but just the replacement of text. Then each of the other faculty members will introduce themselves in another video. Their will be video on the cultural activities, sports, business competition, brandwitz, picnic, grad night, fresherz in the website. After the tour Lucror will describe our programs, courses and academic details if is inquired. Also, our donors and business partners can be part of videos in website if they want to be.

4.2 Will the Website Idea work?


No other academic institution has ever come up with a video and animation based website. It is totally unique at least in business education across globe. So this website has almost 99.99% probability to be popular.

4. Tagline:
Its not sImply an InstItute; Its a LIFE When Lucror will welcome a visitor to our website it will not say Welcome. Instead, it will say IBA, its not just an institute; its a LIFE. The tagline will be clearly visible in our website. Why not Tagline with something regarding business? Being a business school we obviously will provide business education. Each business will do the same and focus on this part. However, excellence in corporate world is dependent on the relevant knowledge. But the most important issue is how one can integrate her/his corporate world with her/his real world. Corporate life actually needs to integrate it with personal life. IBA, DU actually finds it very crucial. So IBA aims to provide business knowledge throughout the IBA life. Our focus is not the institute but the students within the institute. So students here feel it that IBA is just their home, it is not the academic part of their life, it itself is another Life.

5. Our Identity, Our Dream, Our Passion, Our Promise:

Identity Dream

We are the leading & pioneer business school in Bangladesh.

We dream that Bangladesh is leading the business education in Asia

Passion
Promise
5.1

Our passion is to integrate the talent and effort of our students with our academic system to produce the best business graduate in Asia.
We promise to discover the most talented young stars of Bangladesh & help them to show their spark in corporate world across globe through providing the best business education in Asia.

Reasoning Identity:

Our identity is Bangladeshi, as a nation. Identity should be a single phrase that can explain who we are. When we are claiming that we are the pioneer and we are the leader in business education of Bangladesh, which is enough to explain who we are. Further explanation like our value, strength, traits need not to be messed up with our identity.

5.2

Dream-Passion & Mission-Vision Complication:

Mission-vision is somehow technical term. These two terms are popular in branding organization or product or service. But when we are branding our institution keeping the life in the institute at the core dream and passion are more logical, relevant and explainable. Also, dream and passion are catchy than mission and vision are.

5.3

Confinement of Dream & Passion to Asia: Rationale:

We are providing business education and need to be realistic and practical. As business people, we aim high but high enough to reach there. Industry analysis later will explain the trend of business education in Asia. If we become the leader in Asia we are sure to exercise some dominance in world business education. To do that first we have to win Asia and our dream as well as passion explains our realistic view even in our dreams.

5.4

Our Promise sounds Emotional; Is It?

Rigorous admission process ensures that the most talented young people are coming here. Through our examination process we discover the most talented ones. We know there is something in each of these young people moving here and there in the campus. We just show them the right track so that they can explore that path and discover the power within her/him. Our brand promise makes sense and is practical indeed.

6. TV Commercial of IBA in YouTube & other websites:


6.1 Make Ad, Promote IBA:
It is basically a TVC competition. Each year, it will be arranged. The Ads will be on IBA. The best 2 Ads will be selected to be broadcast throughout the year in YouTube and other international websites for promoting IBA. Next year another 2 TVC will be developed in the same way.

6.2

Rationale:

Our students will get a chance to organize TVC competition. There is AD makers organized by NSU which is controversial for some reasons. Our students can explore their potential within their campus and for the best reason. These are indeed great inspiration for them to participate in the competition.

Restructuring Students Communication Club:


7.1 Why Restructuring?
Fresh students are bound to take part in any of these subclubs. There is none in the world who can do nothing other than studying. It sounds weird when the individual is a student of IBA. In reality, the freshmen naturally may feel little bit nervousness. Thats why; we shall make it compulsory to participate in any of these clubs. Despite nervousness, each will then participate.

Debate Club Business Club


Communication Club Volunteers' Club
Entrepreneurship Club

Cultural Club

Research Club

7.2 Complications regarding Restructuring:


No further complications. This is because there is a parent club. Teachers will communicate through the parent clubs. The students will lead the sub-clubs.

7.3 Why Categorizing Communication Club?


Basically, an individual can not do everything. Communication club does not explain what specifically are being done through this club. Moreover, interest varies from student to student. Categorizing the parent club will give a clear view what the club pursuits for. Individual can easily match their interest with subclub. Thus, categorization will lead increased club participation of students

7.4 Organizing Competition:


The sub-clubs will be responsible for organizing relevant competitions. The more the business competition, the better is the exposure of the students. Business Club Cultural Club Entrepreneurship Club Volunteers Cub Research Club Debate Club Brandwitz Case Competition AD making competition Film making competition Business Plan Competition Award for volunteering Publications Quiz Competition Debate Competition

7. Placement Center:
7.1 What is Placement Center?
Placement center works to place prospective graduates in different organizations. Also, placement center helps to find internship.

7.2

Why Placement Center?

An important indicator of quality of business education is the career prospects of graduates from those institutions. However, without placement center, it is difficult to keep track where our graduates are going. So we have decided to develop a placement center.

7.3

Collaboration between placement center & Corporate Organizations:

Our placement center will develop partnership with particular multinational organization for placement of our students soon after they graduate. Those organizations will be able to invite students for internship without participating in career fair.

7.4

Impact of Placement Center:

The impact of placement center is in 2 places. It adds value to education of the students. At the same time, it can play critical role in developing partnership with corporate organizations.

8. Scholarship & Study Tour:


We already provide scholarships. However, our students, in general, are from upper or upper-middle class of the society. As a result, sufficient fund is left. We have decided to sponsor students personal study tour. Earlier, students had to find out sponsors for such tours.

9. Collaboration with Rokeya Hall for facilitating accommodation to female students:


Complications in regard with entry and seat allotment process cause uncertainly among female students of IBA to seek accommodation facility from university. We will try to reform this policy through discussion with Rokeya Hall.

10.

Partnership with Corporate Organizations:


Donors
Corporate World
We will integrate corporate organization in our value chain analysis. As backward partner, these corporate organizations will help us to raise fund and will provide sponsorship. At another end, as foreword partner, they will recruit our graduates.

Sponsors

Recruiters

11.

Policy Issue:

We have identified some crucial factors for providing standard business education which do not exist in IBA, DU. However; absence of these factors is resulted from policy issue. Being an autonomous institute under Dhaka University, IBA has to adhere to some rules and restrictions. Soon we will try to convince university authority to recognize the importance of theses issues so that we can facilitate those in IBA.

11.1 Crucial Factors in Quality of Education affected by Policy:


Curricula Strategic Management as a concentration can not be offered unless DU is allowing. Recruitment of teacher in IBA is in the hand of DU authority. Teacher evaluation is not possible to start unless DU is permitting.

Teacher Evaluation

12.

Strategic Partnership with DU:

We want to address some vital issue in higher education and convince ministry of education to take necessary steps through partnering with Dhaka University. The issued to be addressed are as follow: Develop a ranking system of universities in higher education Encouraging the public universities to be accredited To match curricula with global needs and demand Uniform grading policy across all universities Developing websites that will be common platform of all business students of Bangladesh

13.

Partnership with Icche Gari:

Icche Gari is a mobile school that educates underprivileged children. Through this partnership, the member of our volunteering club will teach the students in Icche Gari.

14.

Financial Analysis: Developing Website AD Making Competition Placement Center


:

Cost: 200K (2, 00,000/= TK) Funding: Available from fund for Computer Center & Website Development Organizing Cost: 500K (5, 00,000/= TK including prize money 50K) Funding: Will be sponsored. Funding: Will be sponsored by several organization who will be our corporate partners.

15.

Evaluation:

15.1 Evaluation Tool:


We will prepare brand report card at the end of each fiscal year to evaluate the impact of our branding.

15.2 Brand Report Card:


Brand report card will simply identify the key areas and evaluate if branding objectives have been achieved in those areas.

15.3 Our Brand Report Card:


Area Donor Collaboration with Corporate Organizations Collaboration with DU Collaboration with Rokeya Hall Restructuring of Communication Clubs Yardstick Ratio of increase in amount of fund raised from donors Amount sponsored I each program by partner organizations. Programs sponsored by partner organizations. Amount of donation from partner organizations. Inclusion of courses necessary to be accredited. Exchange Programs Inclusion of Strategic Management as area of concentration A new specific policy for students from IBA for accommodation Numbers of programs organized by each sub-club Number of students of IBA who have participated in those programs. Number of external students who have participated in those programs. Ratio of winners from IBA to from other universities in those programs.

15.4 How to prepare our Brand Report Card:


.

Direct Survey from students Direct Survey from faculty members Interview of Directors Direct Survey from Adminitration staffs Data from Placement Center Data Collection regarding amount of donation Data collection from Communication Club Data collection from Computer Center regarding number of visit of official website. Data collection from Computer Center regarding the number of view of TVC in websites.
After processing all these data the brand report card will be prepared.

Input

Input

Input

16.

Feedback & Control:

Preparing Brand Report Card

Bridging the gap by implementing new branding programs

Comparing the result from brand report card with expected result

Finding the gap between expected and actual result

17.

INDUSTRY ANALYSIS:

At a Glance: The Breakdown of Education Industry:


Higher Education across Globe Business Education across Globe

Business Education across Asia

Businss Education in Bangladesh

18.1 Higher Education across Globe:


18.1.1 Top 10 countries in regard with tertiary education: ( (Yahoo!Finance, 2012) Country Rank Pct. population Country Rank Pct. population with tertiary tertiary education education Canada 1 51% South Korea 6 40% Israel Japan United States New Zealand 2 3 4 5 46% 45% 42% 41% United Kingdom Finland Australia Ireland 7 8 9 10 38% 38% 38% 37% with

18.1.2 Quality Indicator of Higher Education:

Academic staff

Academic qualifications

Links with enterprises

Professional experience Communication skills Administration Service Rapid service Availability of information material Use of internet for administration

Research activity Friendliness/approachability Friendliness Clear guidelines and advice Adequate working hours

Office automation systems for servicing students Library Service Friendliness Easy borrowing process Availability of textbooks and journals Curriculum structure Educational material of high quality Laboratories (connection with market demands) Efficient structure of modules Interesting module content/books Lectures timetable Availability of information on the curriculum structure Working hours E-library

Variety in elective modules/modules on specialization areas Location Accessibility of campus Frequency of transport service Cost of transportation

Facilities

Quality infrastructure (classrooms and laboratories) Catering services Sport facilities

Quality infrastructure (administration Free accommodation Medical facilities

Availability of infrastructure to host social and cultural events (theatrical plays. cinema) Career prospects Perspectives for professional career Opportunities for attending postgraduate programs Institutions links with business Opportunities to continue studies abroad

Availability of exchange programs with other universities/institutes

18.2 Business Education in Asia:


Business Education Trend in Asian Region Economic growth Emerging Asian MNC Financial sector is expanding Limited quality supply Mass supply, but quality supply is still developing Schools in North America & Europe fill the gap Competitive Asian business schools are emerging Local operations by US and AACSB European business schools EQUIS expand Global accreditations AMBA International collaborations Student exchanges Joint programs with other schools Inter-continental collaborations are in increasing trend Intra-Asian collaborations are limited Developing local contents & cases Teaching in English

18.3 Business Education in Bangladesh: 18.3.1 Hope & Frustration regarding Quality of Business Education provided by Public Universities:

18.3.2 Hope & Frustration regarding Quality of Business Education provided by Private Universities:

HOPE

Students agree to the fact that the quality of education is satisfactory in regard with value of money they provide as tuition fees. Students are satisfied with quality of education.
Lack of external methods of quality assurance and quality enhancement Instituting some form of external assessment and quality review system is long overdue. Presence of course counseling, language programs and monthly guest speaker sessions are considered to be inadequate by the students overall. Very few faculty members receive training, which is crucial for the development of the students. Students are dissatisfied with the research and development activities in their universities. Assessment of the faculty members is not made through students assessment in any of the public universities. Students are not satisfied with the infrastructure and environment of the universities. Number of classrooms wasnt found to be adequate in many cases while student politics continues to hamper the environment. International exposure of the students is found to be almost non-existent in the public universities. Students are not satisfied with the level of international exposure they have got. The universities are not internationally recognized in most of the cases. Collaboration with foreign universities and presence of international student exchange programs is vey low. Students are not satisfied with their community.

FRUSTRATION

HOPE

Students are greatly satisfied with the academic background and communication skills of their teachers. Students are also satisfied with their classrooms in terms of space, cleanliness and air-conditioning Students are satisfied with efficient routines and schedules, make-up systems and timely registration processes.

Transport facilities to and from the universities is unsatisfactory as of now.


FRUTRATION The universities lack proper dormitory facilities.

Recreation and gym facilities are lacking in the universities.


Lack of belief in the prospects of higher education in the private universities as perceived by their own students Female students are less contented with their universities.

18.

Institution Analysis:
Politics free Political violence exists in surrounding area
Despite being public institute ,charges significantly more than any other public institutions.
People either have very high and good perception regrading IBA or they know nothing of IBA.

19.1 PESTLE Analysis:

Political Economical Social Technological Legal

Faculty members have embraced technology


Is bound by the legal ramework imposed by Dhaka Authority

Environmental

Null

19.2 SWOT Analysis:


A competitaive environment Most talented young people of Banladesh as students Diverse Faculty members Diversified students

Strength

Weakness

Scope of function is limited within the legal framework imposed by DU . Recent growth in business education in Asia collaboration with DU Competitors are increasing power. Decline in career prospect

Opportunity

Threat

19.

Competitor Analysis:

NSU , School of Business

Our Competitors

Faculty of Business Studies, DU IBA, Jahangirnagar University

20.1 Mission of our Competitors:


University Mission

NSU DU, FBS JU, IBA

To produce highly skilled manpower, visionary professional leaders and responsible and enlightened citizens. Null To produce high-quality business graduates with knowledge and skills in order to cater the needs of the diverse business organizations of the country.

20.2 Vision of our Competitors:


Vision To become a leading university and remain as a top center of excellence in higher education and research. NULL To equip future leaders with the competence and character to address emerging global and local business and social challenges and opportunities. University NSU DU, FBS JU, IBA

20.3 PESTLE Analysis


Factors Political Politics free Politics free; political violence is in surrounding area Politics free; political violence is in surrounding area Economic downturn is narrowing down the scope to invite students. Economic downturn is widening the scope to invite students. Opportunity arisen from increasing demand to study in public universities has offside the locational disadvantage. Popularity among widening upper class society. People perceive DU as Oxford d of East; middle and upper middle class society are fascinated with the name DU. Society has confusion regarding the chaos and instable campus of JU. Embracing recent technology is the trend in NSU Faculty members either follow traditional teaching style based on chalk duster or embrace technology. Faculty members either follow traditional teaching style based on chalk duster or embrace technology. Function within legal framework as suggested by Privet University Ordinance No legal boundary Institution NSU DU, FBS IBA, JU NSU DU, FBS IBA, JU NSU DU, FBS IBA, JU NSU DU, FBS IBA, JU NSU DU, FBS

Economical

Social

Technological

Legal

Environmental

No legal boundary Null Null Null

IBA, JU NSU DU, FBS IBA, JU

20.4 SWOT Analysis of NSU, Business School:


An eye-catching, secured, spacious campus. Brand Value: In general people perceive the university as an elite one. First government approved private university in Bangladesh. Strength American Education system Curricula reviewed by reputed foreign business school A number of students activity club International Recognition Collaboration with foreign business school Highest charging business school in Bangladesh Students are not satisfied with advising Location: Far from central Dhaka No dorm No transportation is provided from the university Next to the market leader. Market leader is loosing some reputation as their graduates have a tendency to change job off and on, NSU Business school has possibility to lead business education in the country in future. Increasing demand of business education among students especially from the upper and upper-middle class society. Increase in number of students from business studies background. Weakness

Opportunity

May face tough competition from universities that are continuously increasing quality of education but claiming less charge as tuition fees. Bashundhora Housing Area where the university campus is right behind Jamuna Future Park. Also, the housing area is yet to be fully developed. After the completion of the park and the housing area, there might be huge traffic in the Threat

area.

20.5 SWOT Analysis of Faculty of Business Studies, DU

Strength Weakness Opportunity Threat

Brand Perception Cost-convenient

Pressure of students Poor infrustructure


Growing demand in business education Different job sectors
Some private universities are making their service cost convenient. Other public universities are increasing quality of education Capus Violence

21. Competition Analysis: (CSF Matrix)


CSFs (Critical Success Factors) Competitive Environment Curriculum Career Prospect Global Exposure Total Weight IBA,DU NSU 1-10 Weighted 1-10 Result .3 9 2.7 8 .2 .2 .3 7 8 4 1.4 1.6 1.2 6.9 7 6 6 DU,FBS JU,IBA Weighted 1-10 Weighted 1-10 Weighted Result Result Result 2.4 7 2.1 6 1.8 1.4 1.2 1.8 6.8 7 7 4 1.4 1.4 1.2 6.1 7 6 4 1.4 1.2 1.2 5.6

22.

Benchmarking:

22.1 Business Schools selected for Benchmarking:


National University of Singapore, Business School Indian Institute of Management, Bangalore

22.2 Benchmarking & Comparison:


Success factors in Benchmark Business School Collaboration with donors Collaboration with corporate organizations Collaboration with local educational institute Exchange Programs Faculty members from different countries Guest faculty from foreign countries Diverse Faculty Members Competitive Environment Research Work Diversity in student group Standard Curriculum Accreditation Affiliation with foreign universities Existence of factors in IBA,DU No No No No No No Yes Yes No Yes No No No

23.

Stakeholder Analysis:
Consumers (Current Students) Fund Raiser (Donors & Sponsors) Alumni Association Corporate World (Both MNCs and National Organizations those are the employer of our business graduates) Business schools across globe

Appendix:
themselves is extremely limited, only 30% for students aged 20-34. Students with at least one uppersecondary educated parent have a better chance of pursuing and succeeding in higher education. Previous schooling has had a significant impact for the better on students higher education pursuit from lowincome families as well as for immigrant students 14.1.5 Higher Education in regard with Gender Equity: When it comes to educational achievement, females tend to have higher numbers of upper-secondary completion than men In all OECD countries, 59% of all tertiary type A graduates are female men are still more likely than women to complete and attain advanced research qualifications gender differences in career aspirations and chosen fields of study underlines the role of traditional perceptions of some careers as typically male or female-oriented 14.1.6 Diversity in Higher Education in Europe:

14.1.2 Trend in Higher Education across Globe, 2012:

Two elements which have played a major role in the rapid transformation of the global education and economic landscapes
The explosive growth of higher education worldwide The explosive growth of higher education worldwide

14.1.3 Effect of Recent Recession around World on Higher Education: No group or country no matter how welleducated has been totally protected from the effects of the worldwide economic downturn In terms of earnings, the gaps between people with higher education and those with lower levels of education not only remained substantial during the global recession but grew even wider Public expenditure on education as a percentage of total public expenditure decreased in 19 out of 32 individual countries between 2005 and 2009, although it remained at 13% of total public expenditure, on average across OECD countries. 14.1.4 Higher Education in regard with Educational Background of Parents: The chance that students whose parents havent completed uppersecondary level education will attend higher educational programs

Differentiation of course offerings, study periods, diplomas, areas of study within one higher education institution is termed internal diversity. Differentiation of higher education institutions, in their names, statuses, research possibilities, degree awarding abilities is conceived of as external diversity.

Canada is the only nation where more than half of all adults had a tertiary education in 2010. Canada has managed to become a world leader in education without being a leader in education spending, which totaled just 6.1% of GDP in 2009, or less than the 6.3% average for the OECD. A large amount of its spending went towards tertiary education, on which the country spent 2.5% of GDP, trailing only the United States and South Korea. According to The Wall Street Journal, recent university graduates in Japan have struggled to find work, with 15% those graduating in the spring of 2012 neither employed nor enrolled in further education as of August. Even though graduation rates were relatively low, the U.S. is one of the biggest spenders on education. The majority of funds for higher education, totaling 1.6% of GDP, came from private sources. New Zealand is a leader in educating scientists, with 16% of students choosing a science for their field of study at the tertiary level the highest proportion of any country. Education has become especially critical for male job seekers in Irelands workforce, as 6.3% of men with a tertiary education were unemployed in 2010 versus 15.2% for all men nationwide.

Higher Education in the Context of Cost of Higher Education in OECD countries: (OECD, 2012)

OECD countries have above-average levels of access to university-level education, even when tuition fees are comparatively high as students can benefit from sizeable financial support. Student financial support systems that offer loans with income-contingent repayment to all students combined with means-tested grants can be an effective way to promote access and equity while sharing the costs of higher education between the state and students. In countries with more progressive tax structures, such as Denmark, Finland, Iceland, Norway and Sweden, students pay low or no tuition fees and have access to generous public subsidies for higher education, but face high income tax rates. Tuition fees can be much higher in Australia, Canada, New Zealand, the Netherlands and the United States though students in these countries also have access to significant financial support. Higher education financing systems that charge a moderate level of tuition fees combined with student financial support systems that offer loans with income-contingent repayments and means-tested grants may stand a better chance of promoting access, equity,

completion, and positive outcomes for students.

Assessing Quality of Higher Education around World:


Administration Service Academic staff Library Service

Location

Career Prospects

Facilities

Factors that determine quality of Higher Education

Curriculam Structure

(Maria , Vassilis , & Panos, 2010)

Business Education in World:


Data from The Economists latest ranking of full-time MBA programs suggest the appeal of an Old World business education has gone into a rapid decline. The intakes of many of Europes flagship full-time MBA programs have plummeted. The reason why students might stay away form business education is the dire economy. MBAs can look like a good way to sit out a short downturn. In a longer one they lose their charm. With no job-producing European recovery in sight, going there for an MBA seems not so much cleverly counter-cyclical as stubbornly contrarian. Even though predication indicates good career prospect in future, job in relation with STEM (Science, Technology, Engineering, and Math) will be available. Business Education in Europe: The average class size of the British MBA programs ranked by The Economist has decreased by 11% over the past year.

Britains newly toughened visa requirements for non-EU students are a unique reason why business education is in decline in Europe.

Business Education in America: America has made it more difficult for foreign students to work in the country after graduation. American MBA programs are typically twice the length of those in Europe, making both the cost and the opportunity cost of studying there higher. The salaries earned by American MBA graduates have been stagnant for over a decade. Sigh of Relief? Australia recently ditched its own strict policy on student visas in favour of a more welcoming approach. In Canada, as of 2008, all students who have completed a two-year masters degree automatically have the right to stay in the country and work for three years. They do not need to have a job lined up and are not restricted to working in a field linked to their studies, as they would be in America.

Why Business Education in Asia?


Business schools in Asia-Pacific region are looking at the standard of top US and European institutions as indicators of how they compare and where they could improve. Year-on-year, business schools in the Asia-Pacific region are strengthening their role in the global MBA education scene. Demand for business education from Asia has outstripped that of all other regions combined in recent years, according to the Graduate Management Admission Council. Across Asia, and especially so in India and China, employers are embracing MBAs Singapore, India, China and Hong Kong are major players in the regions business education sector.

Why Business Education is experiencing Growth in Asia?


Asia is the growth engine for the world economy Human resource development is the key to Asian growth MNCs are expanding its business in Asia Asian companies are emerging as new MNC

Business Education Trend in Asia: Business Education in Asia: Challenge


Faculty building Student recruiting & placement Research & publication Salary is less competitive Foreign faculty supply is limited

Very strong in undergraduate


High quality full-time MBA students go abroad

Less developed job market for MBA Imbalance between research and teaching
Teaching with weak researches Research on local subjects are not hard to publish in globally top journals

Regional quality journals are well Business Education in Asia


Globalization

developed Challenges of

Collaboration with foreign schools

Developing executive programs

Language barrier Developing local contents & cases that meet the global standard Foreign faculty & students recruiting Placement at global companies Borrowing brand name or mutual capacity building Collaboration beyond student exchanges Regional vs. Inter-continental collaboration From Collaboration to Integration Revenue generation & social function Funding Tuition & admission quota are regulated Donations is limited Revenue generating operation hurts the quality of education

Balancing among BA, MBA, Ph.D., and Executive programs

Prospect:
Harvard University is planning to maintain "a small physical footprint" in Asia through research centers and executive-education programs, which would provide the U.S. school with a "very large intellectual footprint."

Business Education & School Association in Asia:


AAPBS PACIBER Association of Asia-Pacific Business Schools Pacific Asian Consortium for International Business Education

TABS

and Research Top Asia Business Schools

Business Education in Bangladesh:


Types of Business Education provided: In Bangladesh, the universities have provisions for two levels of tertiary level business education: Bachelors of Business Administration (BBA) Two-year (Full Time) MBA programs Master of Business administration (MBA) Part-time MBA programs Executive MBA (EMBA) programs Types of Academic Institutions providing Business Education: Business Studies Faculty of Public Universities Public Institutions Business Studies Institutions of Public Universities Colleges under National University Private Institutions [Private Universities] Public Institutions in Bangladesh those provide business education: Currently, 7 public universities are providing business education through their faculties and institutes of business studies.Also, Bangladesh Open University and National University are providing business education in the country. Faculty of Business Studies Institute of Business Administration Jahangirnagar University Faculty of Business Studies Institute of Business Administration Jagannath University, Faculty of Business Studies Chittagong University, Faculty of Business Studies Comilla University, Faculty of Business Studies Rajshahi University, Faculty of Business Studies Khulna University, Business & Management School Bangladesh Open University , School of Business Bangladesh National University [All public colleges] Dhaka University

A number of private universities are providing business education in the country. The list would be long enough. Reputed 6 private universities for providing business education are:

North South University East West University American International University of Bangladesh

Independent University of Bangladesh BRAC University Ahsanullah University of Science & Technology

Complications in Relation between Quality & Cost of Education Students of universities of medium tuition fees (BDT 2500-BDT 4000) are most content in terms of value for money, and have higher perceived quality of education. The top (highest charging) universities, in the future, will face tough competition from universities that provide better education at lesser cost (as perceived by students).

University NSU

Degree Offered BBA

MBA

EMBA

JU, IBA

BBA

BBA FBS, DU

Area of Concentration Finance & Accounting HRM MIS Marketing International Business Business Policy & Strategy Finance Marketing Management HRM MIS Finance Marketing Management HRM Finance HRM Marketing Finance MIS Management Studies Marketing

MBA

M Phil

International Business

Accounting & Information System Ph D Banking & Insurance Tourism & Hospitality Management

Benchmarking:
As IBA itself is the market leader of business education in Bangladesh, we are looking foreword to gain an international exposure. Unfortunately, IBA, DU is nowhere in the top business schools even in AsiaPacific region. So, we have decided to study what are the very basic distinctions between quality of business education provided in here, IBA, DU and provided by top Asian business schools. To study that, we have selected 7 business schools. Each of these business schools has specific reason to be selected. Moreover, we have decided to study business schools from different regions. Thats why we are not considering top ranking business schools from same region despite their ranking.

National University of Singapore Business School (NUS Business School):


3rd in the Asia-Pacific region 23rd in the world Although NSU Business School was established in 2001, business education was first provided by NSU back in 1961 Degree BBA Double Degree Graduate MBA EMBA MPAM PhD Executive Education

Level of Studies Under Graduate

Finance Accounting

Marketing Management & Organization Strategy & Policy

Decision Science

NUS Business School Career Services: A critical touch-point between students and corporate recruiters that facilitate and enhance employability of our students in a highly competitive job market. This was achieved through a variety of programs throughout the year, including internships, on-campus corporate recruitments and careers workshops. NUS Research Center: Through 5 different research centers NUS Business School conducts research on Social Entrepreneurship & philanthropy, Asset Management & Investments, Strategic Leadership, Behavioral Economics etc. Strategy for Attracting Donors: For example, NUS Business School provides naming opportunities to their donors. The school has developed strategy for donors. It has specified minimum amount of donation, ways how to give. A look to the institutions website is enough to provide detail information regarding donation. Corporate Partnership Programs: As NUS Business School continues to strive for academic excellence, we also seek to keep our curricula relevant to the industry through corporate partnership programs designed to enhance interaction and synergy between the academic domain of the faculty and the industry at large. Faculty members: Faculty members are from different country, different ethnic group. A number of faculty members are external award winner EQUIS & AACSB accreditations

Indian Institute of Management, Bangalore:


Let our learning be radiant.

The Institute received the NCPEDP-Mphasis Universal Design Award 2012 for doing pioneering work in the field of promoting Accessibility and Universal Design and ensuring life of equality and dignity for disabled people. IIMB's Career Development Services team won 'Best Placement Cell' for helping in implementing of education and development in India Today Aspire Education Summit 2012.
Student Exchange Collaboration with foreign reputed universities.

Partnership with Harvard Business Publishing and Richard Ivey School of Business- 2011 Education co-operation with national institute Provides accommodation EQUIS accreditation

IIMB has been maintaining partnership with corporate organizations in regard with recruitment, executive programs and research. Post-Graduate Programme in Management (PGP) Post Graduate Programme in Public Policy Management (PGPPM) Executive Post Graduate Programme in Management (EPGP) Fellow Programme in Management (FPM) Post Graduate Programme in Software Enterprise Management (PGSEM) Executive Education Programme (EEP)

Market Analysis:

Consumers

Corporate World

Donors

Accredititation Institutions

Business Schools around World

Association of Business Schools in Asia

Consumer Identification:
In general, branding objective of any university includes attracting prospective students. But as far IBA, DU is concerned, we are the market leader and there is brand loyalty among our consumers. More importantly, every year we produce a very limited number of graduates, roughly 100-150. So attracting students to our education offering is not at least our marketing objective. So, while talking about consumers, we are referring to our current students. Our purpose is to provide them with better education and more facilities above all to grant them more international exposure.

Definition of