The CQ University or Central Queensland University is located in Australia and its base is in Queensland. CQ University is an Australian dual sector based university which has its main campus in Norman Gardens, Rockhampton. The university has many other campuses which are thereby located in areas like, Bundaberg (Branyan), Emerald, Sydney, Melbourne, Adelaide, Mackay, Townsville, Noosa, Yeepoon, Biloela. The metropolitan campuses of the university are situated in Sydney, Melbourne, Brisbane and Adelaide (Cqu.edu.au. 2018).
The various metropolitan campuses of the University are known to host the domestic and the international students as well. The CQ University had started its operations in the year 1967 as the Queensland Institute of Technology. The university was officially given the name of CQ University two after its establishment in the education industry. The expansion based activities of Central Queensland University had started in the year 2008 (Cqu.edu.au. 2018).
The analysis in the report will be based on the expansion related plans which have been made by the Central Queensland University. The country which has been chosen for expansion is China. The external factors of China will be analysed in the report with the help of different factors which include, the economic condition of the country, the political stability. The legal factors, the investment and trade based environment, financial factors and the cultural factors will be analysed in the report (Andrews-Speed, Liao and Dannreuther 2014). The different factors which are related to the ways by which the Central Queensland University can operate in China will be analysed in the report in detail. The internationalisation or the expansion of Central Queensland University is the most important part of analysis that will be performed in the report (Annarelli and Nonino 2016).
a. Economic factors of China
The economy of China is considered to be a market economy which is socialist in nature. The Chinese economy has acquired the second biggest position in the world in terms of total GDP. The position of the world’s biggest purchasing parity based economy has also been acquired by China. The economic growth rate of China in the current economic condition has remained on an average of 10% for around 30 years. The public sector of China mainly accounts for a high amount of share in national economy of the country. The country was provided with a rank of 71 in terms of the GDP. China also possesses huge amounts of natural resources which mainly consist of many rare metals (Bergh et al. 2016).
The banking sector based assets that have been gained by the country are also quite high which have further led to the development of the economy in an effective manner. China has also been able to acquire the position of the biggest manufacturing based economy in the world. The consumer market which has been developed in Chins has been able to show huge growth in the past few years. China is mainly known in the world for its trade based activities. The country has thereby engaged in various agreements with the trade organizations all over the world. Free trade based agreements have thereby been signed with several countries which include, Australia, ASEAN, Pakistan, South Korea, New Zealand and Switzerland (Bettis et al. 2014).
The provinces which are located in the coastal regions of China are more industrialised as compared to the other areas of China. The economic importance of China has thereby increased with the help of its activities all over the world and in all the important sectors as well. The economy of the country has thereby shown a huge shift towards a more development with respect to the low emissions of carbon. Effective allocation of the natural resources to the research and development and innovation based activities that have been performed by the country have also contributed to the shift in the Chinese economy. The founding of Asian Infrastructure Investment Bank was thereby initiated by China in the year 2015 (Blackwell and Eppler 2014).
The development which has been seen in the economy of China has been an important part behind the formation of Shenzhen industrial area which is also being considered to be the new Silicon Valley. The stable economic condition of China will play a major role in the successful operations of the Central Queensland University. The country will thereby be able to help in improving the operations of the university with the help of the tie-ups which have been formed with other countries (Cosenz and Noto 2016).
The university will thereby be able to attract the domestic as well as the international students. The expansion based plans that have been made by the university can be successful in the stable economic conditions that have been developed in China in an effective manner. The economic importance of China has thereby increased with the help of the structure which has been developed in an effective manner. The long-term costs based on the operations of the university can be reduced with the help of its successful operations in China (Dyer et al. 2015).
Figure 1 – Economic growth of China
Source – (Blackwell and Eppler 2014)
b. Political factors of China
The political activities in China are based on the framework which has been developed of the socialist republic which functions under a single ruling party. The Communist Party of China is the single party which is thereby headed by the General Secretary. The Communist Party of China mainly uses the various Internal Reference in order to monitor and manage the different internal disagreements among Chinese citizens. The local office or Bureau is thereby under the authority of a local leader. The President is thereby considered to be major head of the state who serves under the National People’s Congress. The geographically vast area and the huge population of China has been able to reduce the effects of ruling party from Beijing (Engert, Rauter and Baumgartner 2016).
The economic reforms which have taken place in the year 1980 had further led to the dissolution of the government. The political power has also less personal in nature and institutions are responsible for the proper control in the country. The power of the Chinese Communist party has increased in a huge manner in the year 2017. The international situation in terms of politics has been affected by different political issues all over the world. The economic policies which have been developed by party can thereby be affected by issues which have occurred in the political environment. The regulations which are being developed by the American President can affect the policies that are developed by the Chinese leaders (Fan, Ma and Wang 2015).
The boost in the economy will be affected by political transition which has taken place in the different areas of the world. The international and the domestic political situation has played a major role in the proper operations of the different organizations within the country. The political situation in the country has however become quite uncertain in nature. The party has thereby tried to the provide more attention to the short-term based growth related initiatives which have been taken by the party. The industrializing nature of China has been able to affect the country in an effective manner. China had currently become the second biggest economy in the entire world. The history of China mainly dates back 3000 years ago (Ferraris, Santoro and Dezi 2017).
The current GDP of China is 7600 US Dollars. The unemployment rate in the country is around 7.9 percent. The industrial growth is around 11 percent and the major industries which are a part of this growth of China are steel, petroleum, consumer based products and electronics. The growth rate of the country has increased in the last few years due to the increase in various industries and their operations in the country. The country has also faced huge rates of industrialization in different areas which played a major role in the growth of the country in an effective manner. The government of the country has also started spending huge amounts in the industrialization based activities in the current environment (Hawke 2018).
The political situation in China is moderately stable in nature and this will play a major role in the successful operations of CQ University. The expansion based plans of the university will be affected by the highly industrialized nature of China. The education industry of China is mainly operated by the different government based organizations. The Ministry of Education is mainly responsible for controlling the education based activities which are performed in the country. The citizens need to attend the school compulsorily according to the rules that have been made by the Chines government. The compulsory education based activities are thereby funded by the government (Hill, Jones and Schilling 2014).
The first six years of primary education in China is sponsored by the Chinese government. The attendance rate of students has been reported to be 99 percent. The rate of attendance in the middle schools has been reported to be more than 80 percent. The tax-funded higher education based activities in China had also started in the year 1985. The applicants in this case needed to compete for the scholarships that are provided by the government in an effective manner (Huang, Rice and Martin 2015).
The local and central governments of China have thereby supported more than 1552 institutions based higher learning. The country has more than 100 National Key Universities all over the country. The expansion of Central Queensland University will be supported in an effective manner by the Chinese government. The spending based levels of the Chinese government and citizens of the country on education have increased in an effective manner (Jenkins and Williamson 2015).
Figure 2 – Political condition in China
Source – (Huang, Rice and Martin 2015)
c. Legal issues in China
The foreign trade based laws are provided with much importance in the Chinese economy. The government import, capital investment and export related activities are thereby performed in an effective manner with the help of effective laws. The constitution and laws which are followed by the citizens have changed a huge number of times. The foreign based organizations have now been provided with the opportunity of owning land in China. The corporations are thereby able to lease the land in an effective manner with the help of rent based agreements that have been developed before the start of their operations (Qian et al. 2015).
The diligence and care that needs to be given to the citizens have played an important role in the understand the ways by which the land based rules are followed. The patents and trademark based laws are also an important part of the operations of different organizations in China. The rates of crime are quite low in the country and the government has thereby made some strict laws for the offenders in any case. The visitors in the country are thereby provided with utmost levels of safety in the country so that they are able to visit different areas without any fear in their minds. The visitors or the travellers in China are responsible to abide by the laws in the country in an effective manner (Rosenberg Hansen and Ferlie 2016).
The capital punishment based activities are also practised in China for the various serious crimes. The legal conditions of the country are thereby favourable for the ways by which Central Queensland University operates in the country. The operations of the university and the ways by which it attempts to undertake different types if activities in the country will thereby be affected by the legal conditions in the country. The booming education sector is also effectively supported by the legal conditions that have been developed in the country (Sun, Wang and Luo 2018).
d. The investment and trade based environment of China
The trade base activities in China have been able to provide opportunities to the different organizations which have been able to start their operations. The political environment has sometimes gone through huge levels of uncertainties which have been able to affect the ways by which the organizations from other countries are able to enter the country. The trade agreements that have been made between China and Australia have been helpful for developing an effective and stable economic relationship. The China-Australia Free Trade Agreement had come into effect in the year 2015. This has further led to the dramatic increase in investment and trade among the two countries (Trigeorgis and Reuer 2017).
The Australian business organizations are trying to take advantage of the opportunities that are provided by the Chines marketplace in an effective manner. Greater than 98 percent of the total number of goods which are exported from Australia to China enter the country without paying any particular duty. The export goods which have been purchased by China are thereby valued at more than 70.5 Billion Dollars. The education sector has also been affected by the trade based agreements that have been made by the two countries in an effective manner (Vishnevskiy, Karasev and Meissner 2016).
The education related service export between Australia and China has accounted for more than 53.8 percent. This will thereby be able to affect the operations and expansion related plans that have been developed by the Central Queensland University. The free trade agreement that has been made by the two countries has been able to play an important role in the increase of export based activities (Wheelen et al. 2017).
e. Foreign exchange based issues in China
The foreign exchange based market in China forms an important part of the national economic activities. The foreign exchange based business thereby forms the largest business related component on the global market. The major official currency of China is Yuan. The currency is thereby symbolised as CNY. The foreign exchange related rates in China are totally dependent on the exchange rate of (Yuan Yongmei et al. 2016).
The fluctuations which constantly take place in the foreign exchange rates will thereby affect the operations of Central Queensland University. The international commerce and trade based industry scenario is affected by the foreign exchange related issues. The importance of Chinese currency has increased a lot in the current environment. The forex rates will thereby be able to affect the ways by which the students in the university are able to pay their required expenses in the country. The students in China will thereby face less amount of issues based on the rates of foreign exchange. The profitability and revenues of the organization and payment based methods of the students will thereby be affected by the exchange based rates in the country (Yu and Ma 2015).
f. Financial factors of China
The financial reform based activities have played an important role in the proper economic growth of China. The economic growth of China has been estimated to slow down in the coming years. The potential growth rate of the country however remains the same which can further lead to the increase in the revenues of various organizations. The average growth rate of the GDP of China is also expected to remain at 7 percent for the next ten years. The inadequate levels of polices that are developed by the government can act as the major cause behind the economic slowdown in China. The expansion of Central Queensland University can thereby be affected in an adverse manner by the slowdown which can take place in China in the coming years (Zhang et al. 2017).
Figure 3 – Financial condition of China
Source – (Yuan Yongmei et al. 2016)
g. Cultural challenges and factors that are posed by CQU University in China
The culture which is followed by the two different countries can play a major role in the operations of Central Queensland University in China. The differences can be explained by the Hofstede’s cultural dimensions in an effective manner. The cultural dimensions of both the countries have depicted huge differences in terms of the score. The power distance based score of Australia is 36 whereas the score of China is 80 (Vishnevskiy, Karasev and Meissner 2016). The individualism based score Australia is however much higher in case of Australia. The masculinity related score is however not highly different from each other. The huge differences which have been detected between the cultures of these two countries have been able to play a major role in the ways by which the organization is able to operate. The students of the university will also need to adjust in an effective manner with the differences that have been experienced in the culture of the two countries (Hill, Jones and Schilling 2014).
Figure 4 – Comparison between Australia and China
Source – (Hofstede Insights 2018)
The University can thereby be recommended to develop its polices in such a manner which will be aligned with the laws and regulations of the country. The free trade based activities that can be performed by the university will be able to increase the levels of profitability in an effective manner. The university needs to provide proper training to the staffs based on the changes that will be experienced by them in the culture based factors of China as compared to that in Australia. The students thereby need to adjust in the new environment which has been developed in the university after its expansion. The most important recommendation will thereby be to provide appropriate training to the staff so that they are able to provide appropriate services. The cultural challenges in the country can be faced with the help of proper analysis of the environment. The staffs and students need to adjust with each other in an effective manner in order to ensure the proper operations of Central Queensland University.
Conclusion
The report can be concluded by stating that the operations of Central Queensland University can be successful in nature with respect to the financial and economic conditions which prevail in the country. The most important part of the operations of the organization will be based on the ways by which the university is able to ensure the proper expansion and profitability. The students of the university also need to play an important part in the successful operations of Central Queensland University.
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