f) Relative power of unions, governments, special interest groups, etc. (not part of the conventional Porter’s Five forces) is high as well, as any new legislation or decree can force KIMEP to stop or terminate its operations for some period of time. For the past several years Ministry of Education and Science was the main side to initiate and enforce new amendments to KIMEP policy (e.g. grading and attendance policy) Overall, 5 out of 6 forces are strong, and this means that KIMEP is operating in a highly competitive environment. To survive and thrive in this competitive environment, KIMEP’s competitive strategies is the one of a LEADER, as it always tries to be ahead of its competitors and so far has been rather successful in its experiments and new initiatives. Summary of External Factors The most important forces among all the aforementioned are the bargaining of buyers & suppliers, because if students and faculty are satisfied and happy, then KIMEP, just like any other university, can be said to have a bright future. In the future though, the external factor of technology advancement and its power of changing the job trends and demands will be important, and given KIMEP’s mission of developing educated citizens with the skills relevant and necessary to today’s world, KIMEP certainly needs to reconsider the type of programs it currently offers. Analysis of Strategic Factors (SWOT) a. Situational Analysis Strengths: - Strong brand name and reputation - Strong network of international partner universities - Outstanding faculty - Comfortable facilities - Well-established knowledge-base - Numerous successful alumni - High employment rate of graduates Weaknesses: - High turnover of faculty in recent years - Less focus on innovation, technology and entrepreneurship Opportunities: Threats:
- Becoming an innovation hub of CA - Increasing number of international students and exchange programs - Further devaluation of currency - Increasing competition - Political instability with the future change of the Leader of the Nation b. Review of Mission and Objectives The current mission and objectives are indeed appropriate in light of the key strategic factors and problems, because the mission and objectives are holistic and cover a whole range of ideas. That is why that the mission and objectives should be somehow changed. 10. Observations/Findings In terms of its strategy of becoming one of the world class universities, KIMEP University on way towards making it happen. In just 4 years it significantly increased the number of its international students by having attracted many Central Asian students, and was able to successfully receive Austrian accreditation. Thus, I believe KIMEP knows what it takes to become a world-class university recognized by the entire world and is taking small steps to really become one. 11. Summary and Conclusions In general, KIMEP can be said to have a strong competitive advantage on the market despite the increasing competition. Yet, to increase the number of students enrolled each year KIMEP has to come up with either programs, or new pricing strategy.
- Fall '10
- Accounting, Expense, kimep university