Competition and Strategy in Higher Education †MyAssignmenthelp

Question: Discuss about the Competition and Strategy in Higher Education. Answer: Introduction It can be analyzed that development tools play a great role in conducting the activities in the right direction. It is seen that in this essay the focus will be given more on the development tools like SWOT, Porter five forces and Pestle analysis. These tools help to maintain proper balance in the overall activities of the company. SWOT analysis is one of the development tools that provide information related to the internal environment of the organizations. In this tool, there are four sections that represent the concept of strength, weakness, opportunities, and threats. It is the important concept as it helps to give actual position which the company has in the market. It is seen that the focus is given by the managers of the organization and rectification are done so that competitive advantage can be achieved (Bell and Rochford, 2016). This framework represents the strength of the company which has a connection with various factors of the marketing mix and it is also related to the market share of the company. The strength of the company represents the brand image and the overall goodwill possessed by the company. Next section is related to the weakness in which it has a link with the insufficient resources available with the company. Also in many companies, there is weak distribution channel which comes under the section of weakness (Huggins and Izushi, 2015). The threat of the company is related to the number of competitors of the company in the market. The last section represents opportunities that have a connection with the new product development and also the chance available to the customers to achieve large market share (Hill, Jones, and Schilling, 2014). Practical Example is related to Ford in which it can be analyzed that the company has a large market share and a good image. It is seen that goodwill of the company is one of the major strength that helps to achieve success in the competitive environment. The weakness is related to the high-cost structure and also low exposure in the Asian market. It is analyzed that due to this weakness negative impact is seen on the growth of the company (Santos and Laczniak, 2015). Opportunities of the company are related with the strategic partnership and also the company has new emission standards. Next aspect is related to a threat which the company faces in the competitive market. Ford has to face m major threat due to the fluctuation that takes place in the exchange rate and also the threat is from the competitors like Toyota and BMW who offer same products to the customers. Top management or the managers analyze all the aspects so that growth can be achieved in an effective manner (Sminia, 2017). Porter Five Forces Framework By focusing on this development tool it is analyzed that if the company consider this model then it can be possible to evaluate the competitive environment of the company. In this framework, there are five aspects of competitive rivalry which is related with the strength possessed by the competitors and also the prices of the competitors are evaluated. Power of supplier is also one of the factors which are related to the overall suppliers or number of suppliers in the market. If there are large numbers of suppliers then power is reduced (Pucciarelli and Kaplan, 2016). Power of buyer is also considered as a factor in which proper evaluation is made of the buyers who are availing the services of the company. The threat of substitute is one of the aspects in which proper analysis is made of the substitute that is seen in the market and it gives impact on the overall prices of the company. The threat of new entry is one of the factors in which analyze is made by focusing on the new entry of the business in the market. It is analyzed that it has a link with the overall high cost and also concerned with the entry in the market of the new business. It is seen that in there are many new businesses who are entering the market due to this the new entrants is high in the market. The substitution of products is also high as there are many competitors who are present in the market like Cadbury from which the customers can easily substitute the products. It is seen that power of buyer is high in this company as there are many buyers who purchase the products and if the focus is given on the supplier then it can be analyzed that it is also high as there are many suppliers who offer products to the customers in the market. If rivalry level is analyzed then it is seen that it is high as the competition level is high in the market (Porter and Heppelmann, 2014) PESTLE Analysis framework This framework focuses on the external environment analysis of a company which takes into consideration six aspects like political, economic, social, legal, environmental, legal and technological. In this framework, the entire external environment is considered in which the activities of the company are conducted. It is seen that there are many aspects of the analysis which help to analyze the environment of the industry. In this framework, there are six aspects like It is related to the government rules and regulations that influence the activities of the company. It can be evaluated that it gives direct impact on the policies which are given by the government and it considers tariff policies and fiscal policies which impact the activities of the company. It is seen that these factors give impact on the activities of the company (Grant, 2016). It is seen that it affect the overall performance of the company in a specific country. It also takes into consideration the rate of inflation that gives impact on the prices of the services and products. Revenue is also one of the factors which get affected and also impact is seen on the purchasing decision of the customers (Moutinho and Phillips, 2018). It is also related to the technologies which are latest and helps the company to enhance innovation. The activities are conducted smoothly of the company considers latest technologies to conduct the activities (Van Alstyne, Parker, and Choudary, 2016). It considers the external and internal factor of the company and also many laws are there which is important to be considered by the company. It has a connection with the environment of the surroundings in which the company conducts the activities. This is an important aspect which impacts the overall activities of the company.Apple is one of the practical examples and it is seen that the policies of the government give effect on the overall cost with is concerned with the labor and manufacturing. Also, the effect is seen on which impact the power of the buyers of the customers who are from different countries. The technological factor is also one of the aspects which show that products which are offered can be innovative. Also, it is the formation of the apple company is affected by the rules and policies which are imposed. Environmental issues are related to the used products which should be disposed of so that activities can be conducted smoothly. References Bell, G.G. and Rochford, L., 2016. Rediscovering SWOTs integrative nature: A new understanding of an old framework.The International Journal of Management Education,14(3), pp.310-326. Grant, R.M., 2016.Contemporary strategy analysis: Text and cases edition. John Wiley Sons. Hill, C.W., Jones, G.R. and Schilling, M.A., 2014.Strategic management: theory: an integrated approach. Cengage Learning. Huggins, R. and Izushi, H., 2015. The Competitive Advantage of Nations: origins and journey.Competitiveness Review,25(5), pp.458-470. Moutinho, L. and Phillips, P., 2018. Strategic analysis. InContemporary Issues in Strategic Management(pp. 46-79). Routledge. Porter, M.E. and Heppelmann, J.E., 2014. How smart, connected products are transforming competition.Harvard Business Review,92(11), pp.64-88. Pucciarelli, F. and Kaplan, A., 2016. Competition and strategy in higher education: Managing complexity and uncertainty.Business Horizons,59(3), pp.311-320. Santos, N. and Laczniak, G., 2015. Marketing to the poor: A SWOT analysis of the Market Construction Model for engaging impoverished market segments.Social Business,5(2). Sminia, H., 2017. The industrial organization approach. InThe Strategic Manager(pp. 51-70). Routledge. Van Alstyne, M.W., Parker, G.G. and Choudary, S.P., 2016. Pipelines, platforms, and the new rules of strategy.Harvard Business Review,94(4), pp.54-62.