Introduction
The report throws light on the brief description of the theory discussed in the e-learning activity or video clip and the relevance of the theory with the Higher education industry. The example of organizations in the Higher Education is shared who successfully implemented this theory.
Strategy
A strategy is referred to as the plan of action designed to achieve long term goals and objectives (Grant, 2016). Melbourne Institute of technology is a tertiary education institution that is situated in the Australia and this institute founded in the mid-1990s. The university competes with the other university having a campus at Melbourne and Sydney. The university provides the facilities, lectures, student services, and tutors. The company provides unique value to the customers as the university provide the high-quality programs to meet the needs of students and industry. The company offers the inclusive environment where all students have the scope to succeed. MIT supports every student and assists in accomplishing their future success (MIT, 2017).
The resources and capabilities are required to achieve the success and to accomplish the future goals and objectives. The university also makes use of resources and capabilities, the major capabilities that the university are having is that the company understand the process of strategic marketing and marketing planning. The human resource helps the university to provide the student's assurance for their secured future because the experienced and professional tutors can help the students in achieving future goals. The global strategy for MIT reflects the principles that help to guide the institute future international activities and the other new initiatives that are used by the companies to promote these activities (MIT, 2017).
The university tries to sustain their value that they share with the students. To provide the value the university upgraded its support services including internships, study skills programs, Buddy programs, and the mentoring programs that help the students to achieve the success in the near future. The university tries to upgrade their system and services that help in motivating the students and fulfilling their needs and expectations (MIT, 2017).
Business model Innovation
Business model innovation refers to as the development of the new, unique concepts that support an organization's financial viability (Massa, and Tucci, 2013). Each and every company in the competitive world wants to create competitive advantage; with the innovation, a company can provide customer value or can reduce the cost of the product so this leads to competitive advantage. For instance: -
Australian National University is a national research university which came into existence in 1946 and located in Canberra, Australia. The company mainly target the student who wants to complete their studies in their fields. The company offers different courses for undergraduates and postgraduates (ANU, 2017). The business model company is following is innovative as the company as the company provides entrepreneurship and innovative courses which help the student in the near future. There are certain courses provided by the university to the students that guide the student and generate the skills and capability of making planning, development and executing innovative ventures. The University offers MEI (master of Entrepreneurship) program to all the students. There are many universities that provide different course but offering programs and courses for developing skills and capabilities for being an entrepreneur or innovatively is unique (ANU, 2017). These courses or sessions or programs help the students in the near future attract the students and leads to a value proposition. Through this company is able to generate the competitive advantage and revenue but to achieve the success there is need of the resources. University important resource is Human resource, the university recruits professional and experienced person who can achieve the objective of a company considering the innovative business model. The company assures for the jobs to the candidate who enhances the goodwill and leads to the success along with the revenue (ANU, 2017).
CAGE framework
The CAGE Framework determines the culture, administration, geographic, economic differences or the distances between the countries that companies should address while crafting internationals strategies (Ghemawat, 2016). The institutions involved in the Higher Education also make use of the framework. For instance; Australian Technical & Management College offers a pathway to the international students who are seeking education in the field of business and management in Australia and abroad. The company is having the association with the three leading universities in Australia that include FedUni, CDU, and USC (ATMC, 2017).
The campus of the college is most liveable and culturally diverse, the company analysis the culture and establish the college at the place in different cities having a different culture. The campus of the college believes in diversify culture, the international students warmly invite the students from abroad. The administration linkage is important; ATMC offers innovative courses to prepare them for the global workforce and for this the company guaranteed or assure the unforgettable international study experience (ATMC, 2017). The college believes in hiring the faculty who can offer the personalized and practical learning to the students. The geographic parameter indicates towards the availability of the campus in different countries. Currently, the campus is available in Melbourne and Sydney; the college will expand the business into the neighboring countries Pakistan and Sri Lanka. Furthermore, the company is going to target China, Middle East, Eastern Europe and many other regions. Economic; the college provides the distance learning facility to the students and charge the good amount. This is the reason company promote the international students. The college delivers the personalized and practical learning environment with a solid emphasis on the global industry connections. The domestic and international students who take admission in ATMC graduate with skills, knowledge, and relevant industry experience that open a huge opportunity for their future (ATMC, 2017).
Conclusion
The report shows the description of the e-learning activity along with the example of the university who brought the change in their strategy and business model. These university, institute, and college of the Australia are following strategy, business model innovation to satisfy their students.
References
ANU, 2017, Entrepreneurship and Innovation, viewed on 11th December 2017, https://programsandcourses.anu.edu.au/course/mgmt3027
ANU, 2017, Master of Entrepreneurship and Innovation, viewed on 11th December 2017, https://programsandcourses.anu.edu.au/program/MEINV
ATMC, 2017, About, viewed on 11th December 2017, https://www.atmc.edu.au/about/about-atmc
Ghemawat, P., 2016. The Laws of Globalization and Business Applications. Cambridge University Press.
Grant, R.M., 2016. Contemporary Strategy Analysis Text Only. John Wiley & Sons.
Massa, L. and Tucci, C.L., 2013. Business model innovation. The Oxford handbook of innovation management, 20, p.18.
MIT, 2017, Introducing MIT, viewed on 11th December 2017, https://www.mit.edu.au/about-us/introducing-mit
MIT, 2017, Strategic Plan, viewed on 11th December 2017, https://www.mit.edu.au/about-us/introducing-mit/strategic-plan
