Background
The structural framework can be easily exaggerated by the help of the undertaking the establishing of the University of Sydney in the country of Australia. Though it is situated in the capital city, the establishment is simply illustrating the appropriate structure of the study which is surrounding the framework of the study. This is simply explaining the workings of the modern progressive natures and also the establishment of the University of the Sydney can be easily determined. Therefore the university setting is being determined by illustrating the proposal made for the establishment of the ideas and are also illustrating the workings as it is being conducted in this case. This is simply showing the opportunities that had been made by the University of the Sydney for the women and the men (Ries, & Trout, 2006). This is simply showing the appropriate establishment of the facilities that had been provided to the University of the Sydney and also the explanations are showing the appropriate structure of the work. Thus the justifications can be easily conducted by illustrating the management of the opportunities for the organization as it is aiming for the betterment of the future. It thus simply is stating the characteristics and also the enables the determination of the ranking universities for the betterment of the standings and also the rank made by the university is depicted to be offering the fruitful characteristics as it is being maintained in this case. This determines that the position of the University of the Sydney is ranked to be at the first place among the top three universities of Australia (Sen, 2008). Thus the three characteristics can be easily determined by illustrating the workings and also the establishment of the study can be easily depicted in this case. Therefore the importance of the study can be easily gained by showing the appropriate conduct which is being made by showing the analysis.
As per the market summary and the demand, analysis is being made, the analysis is simply determining the workings as it is being conducted and also the appropriate representation can be easily made by illustrating the importance of the study. This is simply explaining the workings as it is being made by showing the appropriate progress of the work and also the offering a vast range of the facilities to the students (Steele, 2009). These characteristic features are showing the broadening of the study which is easily explaining the vastness of the work and also the opportunities can be easily explained by illustrating the workings in the form of the growth and also the demand can be easily judged by the attractive characteristics as it is being determined in this case. As the awards owned by the university, it is representing the market reputation of the university and also it is representing the fruitful structure by considering the growth. Henceforth is becoming possible for the establishment of the study and also the surrounding characteristics can be easily determined by illustrating the workings as considered in this case. Therefore the wide range of the disturbances can be made from the strategic establishment and also the expansion of the business can be easily made by illustrating the values which are being considered in this case (Pinnock, 2012). The explanation is simply illustrating the values, and also these are offering the wide range of the opportunities by the help of showing the appropriate framework of the structure. It thereby illustrating the workings as it is undertaken by the University of the Sydney and also the appropriate structure is being represented in the form of the establishing the appropriate offers. The formation of the work is being made by illustrating the workings as illustrating works are making it and also the explanation is being made by showing the establishment of the work. This is showing the explanation of the work, and also it shows the establishment of the study which simply illustrates the views that are conducted in this case.
To formulate effective marketing strategies, the analysis of existing business environment for the organization is very important. The existing business environment has a significant impact on the business operation and the performance of the business organization. Some of the factors are internal factors, and the organizations have control over them as some external factors which cannot be managed by the organization and to devise the strategies these play a vital role. Without the environmental audit of an organization, the formulation of effective business strategies cannot be possible (Bowman, & Gatignon, 2010). There are some external factors such as: political, economic, social and technological have a substantial impact on the business. These factors can be analyzed effectively with the help of PEST analysis tool. Therefore, to make the business policies and marketing strategies for an organization, it is important to perform PEST analysis. For these reasons to devise the marketing strategy of the University of Sydney the PEST analysis has been performed that provides required knowledge about the political, economic, social and technological situation of the university.
Political Factors
The national government in Australia support the institutions of higher education. Moreover, for this reason, the federal government, state governments and the local governments in Australia are trying to develop and apply encouraging business policies for the universities in Australia. With the support of these policies, the Australian universities are growing in the market. Hence the political situation is favorable of the University of Sydney (Paul, Cadle, & Yeates, 2015).
Economic Factors
The country Australia is one of the developed countries in the world. The economy of this country is quite stable, and it is evident the global recessions had not much impact on the economy of this country. It is also evident from the data and information from the Australian Bureau of Statistics that the higher education section of this country has a substantial contribution to the national economy. Especially, the international education section contributes a large amount ($1 billion) to the national economy. Therefore, the economic factors are also favorable for the University of Sydney.
Social Factors
As other factors of PEST analysis, the social factors are also important for the business as the society in which the business organization operates important influence on the business operation and performance of the organization. Additionally, the case of the University of Sydney, the social factors play a vital role (Lamb, Hair, & McDaniel, 2004). The Australia has developed the country, and the demand for higher education is increasingly growing in this country like other developed countries. Apart from this, the support from the federal government of Australia along with various states governments and local the higher education industry is flourished over the years. To manage the incrementing demand in the higher education segment the governments are engaging in the development of most favorable business policies and laws for the universities. Hence the social factors are also favorable for the University of Sydney.
Technological Factors
The technologies are evolving over the time, the new technologies are coming with advanced features and facilities, and the old technologies are becoming obsoletes. In this technological background for the business organizations, it is important to upgrade the technological aspects of the business organization that helps them in gaining required competitive advantages from the market (Palepu, Healy, & Peek, 2016). In this matter, it can be stated that in Australia the advanced technologies are used for the business purpose by the various organization. It helps in improving the efficiency of the organizations. The universities in Australia apply the most advanced technologies to improve the efficiency of the education system. The multimedia, the internet, social media, online courses are extensively used in this country by the teachers as well as students that help in improving the system’s efficiency.
The competitor analysis is essential for developing effective marketing strategies for an organization, as the competitors have great influence on the marketing activities of the business organizations. The competitors’ analysis supports in recognizing the competitive atmosphere of the business (Worthington, & Britton, 2015). There are several universities in Australia, which offer higher education to the international students. As the University of Sydney is operating in this segment thus, these universities are the competitors for the university. There are universities like Griffith University, University of Queensland; James Cook University providing significant competition to the University of Sydney as the universities are offering the similar types of course like the University of Sydney offers. Besides this, these universities use to provide special offers to the foreign students. Apart from this, the universities provide exclusive scholarships to the students whose name is enlisted in the merit list of the University. Besides this, the universities also provide the employment opportunities to the students to support their expense in Australia (Mitre?ga, 2006). As a result, the students are encouraged to get admission in these universities. For all these reasons, the competition in the higher education market is becoming very high. To combat in this stringent competitive market, the University of Sydney has to devise more effective ground breaking strategies that support in improving the competitiveness of the University of Sydney.
The SWOT Analysis is being made by illustrating the works as it enables the University of Sydney to determine it’s internal and the external factors. Therefore the analysis enables the company to establish the workings as it is explained in this and also the appropriate exchange of the information is being made by showing the range of the work. This is illustrating the methods of the determination as it is being made by the organization for the purpose of showing the enhancement of the study. The explanations are provided in the below points as t is being explained in this case:-
Strengths
Weaknesses
Opportunities
Threats
The establishment of the Values made by the University of Sydney is showing the focus on the industry, and also it is explaining the workings as it is being made by illustrating the establishment of the work. This is simply stating the processes of the workings and also the establishment of the study can be easily made by showing the development of the strategies for the purpose of maintaining the earned value name (Hamersveld, & Bont, 2015). This is simply focusing on the positioning of the brand in the educational industry and also the appropriate structure can be easily maintained by illustrating the workings as it is explained in this case.
The basic marketing aim of the University of Sydney would be to grow the business by improving the quality and structure of the course offered to the international students to draw the international students to enroll in the different courses of the university. The university mainly aims to become the most renowned university in Australia for the international students. To attain the key aim of the University of Sydney the organization has to detect the present requirements in the market. While the organization can recognize the market needs, it helps the University of Sydney to design the courses that can attract the foreign students. Apart from this, the market segmentation is most important for the effective development of the marketing strategies for the University of Sydney (Floyd, 2006). Effective marketing segment helps in recognizing the potential market for the organization. From the vast students’ market, the University of Sydney has to target a specific part of the market, which has much potentiality to enroll with the University for Particular Courses. After this, the University of Sydney has to implement effective positioning strategy so that can be able to place the course of the university in the mind of the target students. To achieve the marketing objectives, the University of Sydney has to apply some promotional activities such as it can offer special discounts and rebates from the course fees to the deprived students from other countries. Apart from this, the University of Sydney can offer exclusive scholarships to the meritorious students from the other nations that also help in attracting the students for enrolling in the University.
Product: The course that is being offered by the University of Sydney in offered varied fields such as humanities, psychology, accounting, agriculture, engineering, information technology, economics, and law. The University provides a wide opportunity to the students to enter into different courses by their abilities. The students are attracted towards the University for its quality and efficiency (Higgins, 2016).
Price: According to the student’s residency status and course enrolled are the factors taken into taking for determining the tuition fees. The fees for the undergraduate and postgraduate students are different. The stature of the tuition fees is proper for the students.
Place: The teaching and research network of the University are in different places of the city. The Mallat street is situated in the Camperdown, Camberland campus is situated in the Licdome, Rozelle campus is situated near the harbour side, Camden campus is situated in outside the city and University has also hospitals and medical school campus (Subramanyam, 2014).
Promotions: The promotional activities help to promote the courses and achievements of the University. The website of the University provides all the information about the activities carried by the University. The management team can use different promotional techniques for promoting the course programs.
The University of Sydney’s competitive strategies are based on the long term objectives that helps to achieve the competitive advantage in the market. The management team is focusing on decreasing the cost of the course programs and increasing the quality of education. Job opportunities will be provided to the students and encouraging the students to participate in the events and competitions. Training are also provided to the staff members to increase their efficiency.
The university management has audited the plans in order to release the information. The University of Sydneyprepared media reports to show the success plus the performance of the of the institution in the arena of learning, research and involvement. The media representatives can subscribe for the university news, as well as get the information via e-mail. The budget of the University of Sydney has been made to allocate the entire financial resources as well as it also helps in deciding on the performances of this university (Etzel, Walker, & Stanton, 2007). The key aim of the budget is to illustrate that the university can successfully meet the entire obligations as well as capable for meeting the present objectives and goals. The budget has been prepared in accordance to the accounting rules plus regulations. Furthermore, the management of the organization is liable for managing the entire income and expenditures of the University of Sydney.
|
Revenues |
|
|
Student Tuition Fees and other Fees |
|
|
Student tuition Fees |
40,38,17,361 |
|
Other fees |
10,83,09,234 |
|
Subtotal – Student Tuition Fees and other Fees |
51,21,26,596 |
|
Investment and Interest Income |
1,12,38,869 |
|
Grants and Contracts |
|
|
State and Local Grants & Contracts |
4,47,11,878 |
|
Subtotal – Grants & Contracts |
5,59,50,747 |
|
Private/other gifts, grants and contracts |
22,05,81,393 |
|
Sales & Services of educational departments |
18,04,04,163 |
|
Auxiliary Operating Revenues |
24,04,77,273 |
|
Health Services |
67,30,19,221 |
|
Other Revenues: |
0 |
|
Indirect Cost Reimbursement |
15,88,87,188 |
|
TOTAL REVENUES |
2,04,14,46,581 |
|
Expenditures |
|
|
Educational & General: |
|
|
Research |
52,51,93,839 |
|
Public Service |
10,79,76,467 |
|
Academic Support |
19,18,35,776 |
|
Student Services |
11,20,09,215 |
|
Institutional Support |
12,76,45,668 |
|
Scholarships & Fellowships |
18,92,61,636 |
|
Auxiliary operating expenditures |
21,56,35,666 |
|
TOTAL EXPENDITURES |
1,46,95,58,267 |
|
Transfers Between Funds |
|
|
Mandatory Transfers |
|
|
Principal and interest |
11,60,62,513 |
|
Subtotal — Mandatory Transfers |
11,60,62,513 |
|
Other |
7,84,74,638 |
|
Subtotal Voluntary Transfers |
7,84,74,638 |
|
TOTAL EXPENDITURES & TRANSFERS |
1,66,40,95,419 |
|
Net Increase /Decrease) in fund balances |
37,73,51,162 |
Conclusion
The marketing analysis of the University of Sydney exhibits that the institutions can be able to establish it brand name in the market. There is very friendly environment in the University University Staffs and the students. Owing to the irregular distribution of work plus work pressure the institute is facing severe difficulties. The university usually offer different types of courses to the international students. Besides this, the University of Sydney has improved the efficiency of the courses (Paul, Cadle, & Yeates, 2015). The University of Sydney strictly adhere the rules and regulations in order to carry out its operational activities. Besides this, the University of Sydney also endeavour for the wellbeing of the society. The management efficiently manage the entire resources of the business such as human capital, physical resources and financial resources. The responsibility of the management is to control the operational activities and the resources in efficient ways.
References
Annual Report. (2017). Retrieved 30 May 2017, from https://sydney.edu.au/dam/corporate/documents/about-us/values-and-visions/6324%20Annual%20Report%202016.pdf
Appannaiah, P., & Reddy, D. (2010). Business Management. Himalaya Publishing House.
Bowman, D., & Gatignon, H. (2010). Market response and marketing mix models. Boston: Now.
Etzel, M., Walker, B., & Stanton, W. (2007). Marketing. Boston: McGraw-Hill/Irwin.
Floyd, D. (2006). Business studies. London: Letts.
Hamersveld, M., & Bont, C. (2015). Market research handbook. Chichester, West Sussex: John Wiley & Sons.
Higgins, R. (2016). Analysis for financial management. London: McGraw-Hill Education – Europe.
Jeannet, J., & Hennessey, H. (2004). Global Marketing Strategies. Boston: Houghton Mifflin.
Kuada, J. (2008). International market analysis. London: Adonis & Abbey Publishers Ltd.
Lamb, C., Hair, J., & McDaniel, C. (2004). Marketing. Mason, Ohio [u.a.]: Thomson/South-Western.
Mitre?ga, M. (2006). Market analysis. Katowice: Publisher of the Karol Adamiecki University of Economics.
Palepu, K., Healy, P., & Peek, E. (2016). Business analysis and valuation. Andover, Hampshire, United Kingdom: Cengage Learning EMEA.
Paul, D., Cadle, J., & Yeates, D. (2015). Business analysis. Swindon: British Informatics Society Limited.
Pinnock, A. (2010). Business studies. Claremont [Cape Town]: The Answer.
Pinnock, A. (2012). Business studies. Claremont [Cape Town]: The Answer.
Ries, A., & Trout, J. (2006). Marketing warfare. New York: McGraw-Hill.
Sen, M. (2008). Business Management. New Delhi: Global Media Publications.
Steele, J. (2009). The Market. New York: Disney/Hyperion Books.
Subramanyam, K. (2014). Financial statement analysis. New York: McGraw-Hill Education.
Worthington, I., & Britton, C. (2015). The business environment. Harlow, England: Pearson.
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