(Tiểu luận) strategic management group assignmentexternal analysis of the higher education industry

MINISTRY OF EDUCATION AND TRAINING NATIONAL ECONOMICS UNIVERSITY NEU BUSINESS SCHOOL -   - STRATEGIC MANAGEMENT GROUP ASSIGNMENT External Analysis of the Higher Education Industry Lecturer: Group: Member: Class: PGS.TS Bùi Đức Tuân 06 Phạm Viết Lương – 1121357 Đỗ Quang Đăng – 11219047 Hồ Sĩ Minh – 11219093 Nguyễn Mai Dương – 11219042 Vũ Tú Oanh – 11219113 Lê Thu Hường – 11219066 Lê Thị Thùy Dương – 11219041 E-BBA13.1 Hanoi, May 2023 NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management INDEX INDEX -1 INTRODUCTION -2 MACRO ENVIRONMENT ANALYSIS Policy Economic Social -6 Technology Cultural 10 INDUSTRY ENVIRONMENT ANALYSIS -11 Threats -11 Bargaining 13 The Intensity of industry rivalry -14 KEY SUCCESS FACTORS OF THE INDUSTRY 16 REFERENCE -18 NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management INTRODUCTION Numerous studies have been done on education in general and higher education in particular Any society's foundation is its higher education system The standard of a nation's human resources is determined by the caliber of its higher education system Higher education encompasses the teaching and learning processes at colleges and universities, which students pursue as they work to achieve higher educational credentials In-depth information and understanding are taught in higher education in order to take pupils to new areas of study Additionally, lifelong learning possibilities are provided through higher education, enabling individuals to periodically update their knowledge and abilities in accordance with societal demands There were very few higher education institutions in the past because only a small percentage of people could read or write Producing a seniority list for the first universities has always been challenging It is impossible to so with any degree of precision, owing to the fact that the first universities, which arose in the eleventh to the thirteenth century, were the result of spontaneous social events As the first universities arose from student unions, many of them arose as a result of student mobility from one location to another Padua was thus founded by Bologna professors Paris, the first of the northern kind of university, was unique in that its masters founded it The primary goal of higher education is to produce adequate and qualified human resources for the economy as a whole, of such quality and quantity that they contribute to the state's production activities and, as a result, the state's social, economic, political, civil, and cultural environments become self-sustaining and vibrant As a result, the ultimate goal of higher education will be to educate our graduates and postgraduates to compete on a global scale (Annual Administration Report, Directorate of Higher Education, Manipur, 2004-05) In recent years, industry and academic specialists have seen an alarming prevalence of skills gaps in the workplace (SHRM, 2019) Too many positions go empty despite lengthy job postings, or they are filled with poorly suited candidates This is in stark contrast to the norm of posts being immediately filled by fresh college graduates, notwithstanding their education and training At least, that has always been the concept behind aligning a college degree to the demands of the profession However, recent changes in business methods, cultural milieu, and student demography bring this long-held norm into doubt With these causes driving massive shifts and the most recent university data to back them up, learning institutions must more to ensure that graduates obtain relevant information and skills that better equip them for the future of employment (Inside Higher Ed, 2020) However, this is easier said than done, and universities and colleges must stay NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management current on higher education developments in order to connect their services with the job market while preserving a competitive advantage MACRO ENVIRONMENT ANALYSIS Policy For the higher education sector or any other industry to develop smoothly, it is necessary to pay close attention to the impact of political factors This is a very important industry and receives great attention from the people to the state, so there are many policies introduced that affect the size, structure, and quality of training, either in the direction of encouraging or constraining In Vietnam, the State has also adopted specific policies on higher education development specified in Clause Article of the amended Law on Higher Education 2018: To develop higher education in order to train highly qualified human resources to meet socioeconomic development requirements and ensure national defense and security To allocate budgets and resources for higher education on the principles of competition, equality, and efficiency through investment expenditures, research and development expenditures, research and training orders, scholarships, student credits, and other forms Prioritize and give preferential treatment of land, taxes, credits, and other policies to develop higher education To prioritize investment in the development of a number of regional and international higher education institutions, training sectors, and high-quality teacher training institutions; develop several specific sectors and higher education institutions capable of performing national strategic tasks and regional development tasks of the country Encourage the process of arranging and merging universities into large universities; application of technology in higher education To socialize higher education and encourage the development of private higher education institutions; give preference to private not-for-profit higher education institutions; adopt preferential policies for organizations, enterprises, and individuals investing in education and training, science and technology activities at higher education institutions; adopt tax exemption and reduction policies for donated assets, support for higher education, grant scholarships and participate in student credit programs Having synchronous policies to ensure the autonomy of higher education institutions associated with responsibilities Linking training with labor demand of the market, researching and applying science and technology; promoting cooperation between higher education institutions and enterprises, scientific and technological organizations; adopting tax incentives for scientific and technological products of higher education institutions; encouraging agencies, organizations, and enterprises to receive and create conditions for learners and lecturers to practice, practice, conduct scientific research and transfer technology, contributing to improving the quality of training NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management To attract, employ and give appropriate treatment to improve the quality of lecturers; Focus on developing the teaching staff with doctoral degrees and leading professors in higher education institutions To give priority to beneficiaries of social policies, ethnic minorities, people in areas meeting with extremely difficult socio-economic conditions, and learners of specific disciplines meeting human resource needs for socio-economic development; realizing gender equality in higher education To encourage and promote international cooperation and integration with a view to developing Vietnamese higher education at regional and world levels Looking at the above regulations, it can be seen that the State has introduced policies to promote and create favorable conditions for the higher education sector to develop This is also one of the basic social policies in the system of socio-economic policies of the State, showing significant attention to the higher education sector In addition, the State also enhances the autonomy in the administration and administration of the education system of universities, helping to make the operation of schools more natural, and flexible, increasing the ability to meet the diverse requirements of society Besides, not all policies are completely effective in promoting the education sector "Budget investment per student is low, while public universities account for 84%, so expecting high quality is extremely difficult We urgently need a breakthrough policy for higher education," said Deputy Minister Nguyen Van Phuc From 2013 up to now, budget expenditure on higher education in Vietnam has only accounted for about 9-10% of the total state budget expenditure on education; about 2% of the total state budget expenditure, and just over 0.5% of the country's GDP; The average cost for student per year in Vietnam is also only about $ 630, very low compared to developed countries With the low amount of investment in universities, schools also cannot increase tuition fees unreasonably to make a profit, leading to quality problems that are difficult to guarantee From there, it can be seen that the State's decision has a great impact on the development of the higher education sector If an improper decision is made, not only the education sector will be affected, but also the economy and people’s life Economic In Vietnam, in models of long-run economic growth, economists often refer to the concept of a production function, whereby the output of the economy is a sub-function Our Party and State are consistent in the view that education and training are the top national policy With the awareness that education and training policies together with science and technology policies are two national policies that need to be considered the highest priority to realize long-term sustainable development goals, over the years, education and training policies in our country have been paid attention to and renewed, creating many important results, and contributing to the overall development of the country The fields, education, and NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management training are given priority to invest large resources from the state budget From the role of education, we can understand that higher education is a process of training quality human resources Higher education is seen as a system for nurturing future scientists and researchers Besides the labor force, the knowledge force is the factor to promote the development of science and technology and the economic growth of a country The growth and development of higher education partly depends on the ability of the state budget to invest in universities Allocate budget and resources for higher education on the principles of competition, equality and efficiency through investment spending, research and development spending, research and training orders, scholarships, student credits and other forms Priority, incentives on land, taxes, credits and other policies to develop higher education In 2015, the total state budget for education and training was VND 224,826 billion, accounting for about 20% of total state budget expenditure Spending on vocational training, secondary schools, colleges, universities and continuing education accounts for 30% of total expenditure on education In which, spending on college and university training accounts for over 12% In terms of GDP, Vietnam's ratio of spending from state resources on education and training to GDP is higher than that of many countries, regions, and even countries with a higher level of economic development In 2012, the ratio of public expenditure on education and training to GDP of Vietnam accounted for 6.3%, higher than that of Singapore (3.2% in 2010), Malaysia (5.1%), Thailand (3.8%), South Korea (5.2% in 2011), Hong Kong (3.5%) In 2010, the proportion of budget expenditure per university student in Vietnam was approximately 40% of per capita income, while in the United States, this rate was 21%, Singapore was 28%, South Korea was 21% 13%, Japan 25% This shows that the priority that the Vietnamese Government gives to education is quite large compared to the financial capacity of the country However, the rate of expenditure on higher education is low, budget expenditure on higher education in Vietnam only accounts for about 9-10% of the total state budget expenditure on education; about 2% of total state budget expenditure and just over 0.5% of GDP of the whole country The ratio of spending on scientific research and equipment procurement is almost not guaranteed due to lack of capital The use and allocation are not efficient, still average and spread, thereby affecting the training quality of universities The attraction, use and reasonable remuneration in order to improve the quality of the teaching staff; The focus on developing a team of lecturers with doctoral degrees, leading professors in higher education institutions to help dedicated, enthusiastic and satisfied teaching staff also partly influence the decision to determine the success of higher education It is necessary to prioritize the consideration of salary increases and preferential allowances for teachers, so that teachers no longer have to calculate the details and pull the tight salary for customers dozens of payments per month; wholeheartedly, confidently teaching Document continues below Discover more from: Strategic Management Đại học Kinh tế Quố… 169 documents Go to course 34 Swot-Tesla - Phân tích SWOT cho Tesla Strategic Management 100% (4) 07 12 12 Strategic Management 100% (3) Vissan Case Study Group Internal… Strategic Management 100% (2) Lunenburg, Fred C The Decision Making… Strategic Management 100% (2) Dominox 27s-project-1 27 compress Strategic Management 100% (1) Tổng hợp Strategy NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class 41 management Group 06 – Strategic Management Strategic 100% (1) Management knowledge to students Only then will the teaching staff's dedication to education be fully promoted, thereby attracting students, improving the quality and economics of Vietnamese higher education In addition, the economic conditions of the students' families also have a significant influence on the success of higher education The income level of families also affects the number of students attending school The changing economic situation, the changes in the economic cycle such as economic recessions or during the Covid outbreak, the economy goes down leading to the reduction of personnel in enterprises due to insufficient performance KPI, These changes have a great impact on employment and income of households in Vietnam This also has a lot of impact on the school's decision to better match the current economic situation Many universities have to cut tuition fees, cut faculty allowances, reduce extracurricular activities as well as practical activities, sightseeing In summary, the change in the general economy of the home country affects the economic and environmental changes of higher education Social International cobollation International educational collaboration in this context is defined as the partnership between domestic universities and foreign counterparts aimed at affording academic opportunities for Vietnamese students, including overseas study programs and international curricula for foreign students studying in Vietnam At present, there exist international training initiatives in Vietnam, either facilitated by foreign institutions or through collaborative efforts between Vietnamese and foreign universities Successful completion of these programs may lead to the conferment of degrees (bachelor's, engineer's, master's) solely by the foreign university or jointly by both foreign and domestic institutions In recent years, particularly since the early 1990s, international educational cooperation has produced a considerable number of graduates across various fields, adhering to global educational standards Of note are the thousands of business administration and economics masters who have received training, contributing significantly towards accelerating the transition from a centrally planned to a market-oriented economy The impact of international educational cooperation has undoubtedly been instrumental in enabling Vietnamese universities to take decisive steps toward integration into the global academic landscape Through these collaborations, numerous large institutions have fostered a highly competent faculty capable of delivering international programs while also facilitating knowledge-sharing exercises with other universities NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management worldwide Moreover, domestic universities possess an educational management cadre capable of designing and implementing international programs successfully Several universities' curricula have been recognized by reputable institutions in Europe, the US, and Australia, thereby allowing for the transfer of academic credits across borders Many Vietnamese universities have actively participated in international education partnerships, with some receiving recognition as official members by esteemed international education organizations The academic level of lecturers The current state of expertise among lecturers Resolution 29-NQ/TW of the Communist Party on fundamental and comprehensive innovation in education and training stipulates that "College and university lecturers must hold a Master's degree or higher and be trained and developed professionally in pedagogy." However, according to the charts presented, the level of lecturers at universities is still inadequate, with many not meeting the standard (i.e., not holding a Master's degree) Furthermore, many lecturers lack professional competence, pedagogical skills, and participation in cultural and social activities As a result, the increasing demand for highquality human resources training has yet to be met, while the lecturer team is considered a crucial factor in the success of teaching The cause of this status quo stems from two factors: firstly, the legal documents on remuneration policies for teachers and educational managers are not synchronized, the effectiveness is not high, and the management mechanism and remuneration system are not NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management attractive enough to recruit good lecturers both domestically and internationally Secondly, many educational institutions not prioritize the development of young lecturer resources The current state of scientific research by lecturers Scientific research plays a critical role in enhancing the scientific capacity of lecturers, positively impacting the quality of education and asserting the reputation of educational institutions during the era of international integration Scientific research is considered a leading criterion for evaluating the accomplishments of each lecturer at educational institutions worldwide However, in Vietnam, many universities are not currently prioritizing this issue Statistics reveal that the number of published articles in domestic professional journals or works published at various levels by university lecturers indicates that many university lecturers with doctoral degrees, associate professor titles, or years of teaching experience have hardly produced any corresponding research publications or have not completed any research projects The reasons for this situation stem from several factors: Firstly, the research abilities of lecturers, especially young lecturers, are still limited Secondly, some lecturers not fully understand the role and benefits of scientific research in their work Thirdly, the majority of university lecturers are not genuinely committed to research activities, resulting in a prevalent trend of lecturers conducting research in response to workload requirements Fourthly, shortcomings in research achievements and methodologies also lead to a common occurrence of low-quality scientific papers The academic level of students Currently, the academic level and skills of Vietnamese students are quite diverse and depend on many factors: Specialized knowledge: Many Vietnamese students have good specialized knowledge in specific fields of study, especially in science and technology However, some students still struggle to apply their knowledge to practical situations Soft skills: The majority of Vietnamese students still lack soft skills, including communication, teamwork, problem-solving, and leadership skills This makes it difficult for them to find employment and develop their careers after graduation English language: Although many Vietnamese students have been studying English since childhood, many still struggle to use the language fluently and confidently This makes it challenging for students to seek study and work opportunities abroad NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management Information technology: Vietnamese students are proficient in using information technology such as computers and the internet However, some students still not know how to use these technologies to find information and develop their skills Analytical and problem-solving skills: Some Vietnamese students still lack analytical and problem-solving abilities, particularly in new and difficult situations In summary, the academic level and skills of Vietnamese students are diverse and depend on many factors Improving soft skills, English language proficiency, and problemsolving abilities are essential factors in equipping Vietnamese students with the necessary skills to develop a successful career in the future Technology When analyzing the factors affecting the future of higher education, we cannot fail to mention Technology – an important part of PEST Of course, this factor plays an indispensable role and has a great influence on the environment of any industry, not only Higher education In the increasingly developing era known as the familiar name "4.0 Era", the introduction of a series of new technology products and services has made the Higher education market need time to stabilize and get used to The Technology element in Higher education is known quite simply in the training institution with modern equipment such as projectors, interactive boards, sound systems, and cameras, All of these devices have been researched and introduced into Higher Education for teaching in the past few years and it is considered a great step forward to support lecturers when faced with the lack of time to prepare lectures before going to class The above devices play an important role in the exchange between lecturers and students, making it easier for them to write, draw, and insert files to illustrate lectures more understandably, and there are websites created that can be accessed by many people at the same time to complete the work faster Therefore, customers of the Higher education industry, or students themselves, always have access to modern technology in learning, so studying is less burdensome In addition to the fact that training facilities are always invested in and updated with modern equipment, the management system of universities is also upgraded with equipment to support management and inspection It is a big step forward for the Technology element of Higher education because it is proven that it is not only well applied in the normal learning process but also a useful tool in difficult periods such as the recent Covid-19 pandemic that prevented students from going to school These systems were created to support online lecture storage, homework, and online exams, in addition to supervising candidates to avoid cheating in exams These innovations have brought about many positive and negative impacts on the development of the Higher Education sector On the good side, this improvement brings excitement to many learners, helps increase interaction between lecturers and students, and NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management also helps students find the right learning style for themselves (maybe through sight, hearing, etc.), requiring creative dynamism from both sides to make the class not boring But in contrast to that, innovative technology applied in higher education also brings inadequacies such as making it difficult for those who are not proficient in technology to use, difficult to manage students' concentration, can encounter problems at any time if the network is unstable, etc By the way, the application of Technology elements in the teaching of Higher Education is still being trusted and continued to be used by schools and also makes the operation of this industry more convenient than before It can be said that for the development of Higher education, Technology plays an essential role and always promotes this industry to catch up with the development of the times Cultural In addition to the factors in PEST, when it comes to factors affecting the development of the Higher education industry, we cannot ignore the Cultural factor This is a decisive factor to help form the stability and thrive over many years of the Higher Education industry Stemming from the history of many years of struggle to keep the country, Vietnamese people always think that they must learn to have knowledge, keep their nationality core and promote the country's cultural values Therefore, for Vietnamese families, learning is always a priority and is considered the main task for most of their lives That is why every year the number of candidates applying for the exam to universities is always counted with extremely large numbers Today, society is more and more developed, but that does not mean that the perception of Vietnamese people has changed for many years Although it is no longer too obvious, whether a young person will take the entrance exam or not will still be a topic of discussion, some even judge that child if he does not attend university Deep in their minds, they always want their children to go to college to get a college degree, later to be able to have a stable job in life, not precarious, anxious to run for a side job They themselves have always formed in their minds a fixed orientation for each person that after graduating from high school, they will naturally go to university and easily have a worthy job instead of not studying but going to work always Of course, with the progress of the times as well as exchanges with many countries around the world, most Vietnamese people are no longer too old-thinking with the fact that studying at university will change their lives, but they still encourage their children and grandchildren to go to school to acquire new knowledge Meanwhile, Vietnamese businesses when recruiting still partly emphasize having a degree and having a university degree from which school instead of paying attention to the knowledge and skills that applicants get from studying at university That is why we see more and more universities, their enrollment is always increasing over the years In essence, this is a good culture of Vietnamese people and can also be considered as one of the meaningful cultural values University study is really meaningful and valuable in 10 NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management Vietnam because it is suitable for the lifestyle and work of Vietnamese people But college is not the only and shortest path to success, it is just the path that opens up more favorable opportunities for each person to gradually reach their dreams Such consistent and fixed thinking has pushed the importance of college higher than ever That leads to extremely open opportunities for the Higher Education industry This is considered both an opportunity and a challenge for the Higher Education industry Thanks to the long-standing conception, the number of customers in demand for this industry has always been stable over the years, even though there must be competition between customers to get the services of the industry However, because they understand the wishes of customers, competitors in the industry appear more when in addition to universities focusing exclusively on one major, there are schools with a variety of different professions That, in turn, leads to the demand for quality in the service of the industry, or the quality of teaching of each school will be the key to deciding to attract customers Because of the increased demand, the wide range of services makes it easier to study at a university, and naturally, schools will have to compete with each other in terms of reputation and quality of teaching, help enhance and develop services in the Higher Education sector INDUSTRY ENVIRONMENT ANALYSIS Threats Potential entrants (ChatGPT) Potential entrants are companies that are ready and eager to enter a market when circumstances allow According to the market hypothesis, the potential entrant will really enter the market if (a) the market's current firms generate above-average profits and (b) he can get past entry-level obstacles New enterprises entering the market have a significant impact on market regulation, the elimination of excessive profits, and the expansion of the market's supply To ensure that current businesses supply the market effectively and at a cost that is consistent with the cost of supply, however, the threat of market entry alone is adequate The conditions for investment and operation in the sphere of education are outlined in Decree 46, which also outlines the prerequisites for creating universities as well as the operational requirements for all educational institutions, from preschool to university Private education costs at least $1 billion VND (excluding the cost of school-building land) This demonstrates that opening a university requires a significant financial investment if you want to build one In addition, establishing a university requires a lot of prestige and connections to draw in more professors and students There are currently a number of private institutions operating in the nation, including FPT University, RMIT University, Thang Long University, and others, which have achieved success as a result of their high standing and 11 NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management longstanding seniority Additionally, a lot of businesses that try to get into higher education fail because they lack the resources, the right strategies, and a plan to draw in plenty of lecturers The most common example is Ha Hoa Tien University, a private university that has gone bankrupt along with its students As a result, it is clear that getting into the higher education sector is expensive and that, if a company lacks sufficient credibility and a clear sense of purpose, there is a considerable danger of bankruptcy We come to the conclusion that there is little risk of new competitors Threats of substitute goods/service In addition, alternative services that have been developing for a long time with a strong growth rate are today posing a threat to higher education in Vietnam Firstly, the number of students going abroad to school has increased recently Studying abroad is becoming more popular for a variety of reasons, including the fact that there are increasingly more resources available to students who want to study abroad, as well as scholarships too many Young people desire access to contemporary schooling Although the nation is home to numerous foreign universities like RMIT, BUV, VinUniversity, etc., it is apparent that developed nations like the UK, Australia, USA, Canada, New Zealand, etc still have established education systems that go beyond what Vietnam offers The majority of developed nations emphasize individuality, self-control, and creativity Students will have the freedom to voice their ideas and be their own bosses Developed nations also make research and academia easier Students get the chance to practice at numerous big businesses and organizations, market their abilities, and gain early work experience in addition to the knowledge they learn in the classroom Students who graduate can start working right away without having to settle in, as in Vietnam It is easy for us to gain high admiration from employers when we hold international degrees and certificates from universities in developed nations like the UK, USA, Australia, New Zealand, etc You will undoubtedly have numerous prospects to hold significant posts with large wages if you go back to Vietnam Studying abroad in a foreign country offers many worthwhile experiences, particularly for those who desire to develop their independence and lessen the influence of their families You can freely discover who you are, build on your talents, sharpen your foreign language skills, and acquire study and employment experience You have a lot of new things to learn in life You will be able to research, experience, and put them into practice while studying overseas Draw your personal conclusions from there Certainly, finding employment possibilities is one reason why many young people plan to study abroad Many nations today, like Australia, Canada, and New Zealand, have policies that prioritize immigration with specific restrictions Studying overseas is the most beneficial 12 NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management course of action and offers the most prospects if you wish to become a citizen of these nations The likelihood of finding a life partner is very high if you know how to make the most of the time you have left after graduation and choose careers that are understaffed The persistent issues with higher education in VietNam are the reason why studying abroad is continually increasing Of course, there are numerous benefits to studying in the country, including affordable living expenses, easy access to professors, and inexpensive tuition costs, but those benefits aren't enough to draw students in Learning is an investment, and if made in the proper way, it will yield numerous incomparable advantages for learners It must be fair to acknowledge that higher education is becoming more innovative and is gradually catching up to global standards Numerous domestic graduates have been awarded graduate fellowships at prestigious international institutions However, according to the QS rankings, Vietnam has only two national universities that are currently within the top 1,000 universities Even though we are happy to see a new institution in the rankings, it is obvious that the performance is still quite low Secondly, the field of higher education is also threatened by faster, more specialized courses These programs are appropriate for a wide range of people because they are frequently affordable, accessible, and not have age or qualifying requirements, especially for those who have no direction or plans for the future Many people find it challenging to enroll in higher education because of financial reasons, particularly during a period of unstable economic conditions when tuition fees are subject to sudden increases Technology advancements have made it simpler to master new skills and find the knowledge you need As a result, more people are enrolling in accelerated, specialized courses Additionally, these short professional courses assist students in gaining the knowledge they need to make an immediate income Higher education still predominates; however, the higher education sector is not allowed to be arbitrary; instead, it must constantly innovate and create knowledge bases that are better suited for students This will draw more students If the curriculum backlogs cannot be resolved, Vietnam's higher education market is expected to experience a steady decrease It will then cause a "brain drain" in Vietnam Bargaining In Porter’s Forces model, it is also mentioned the impact of factors:  Bargaining power of buyers: Customers have the right to put pressure on the industry When customers have the ability to have a sufficiently large impact on an industry's sales and profits, they wield significant power  Bargaining power of suppliers: Like buyers, if suppliers have a large enough impact, putting pressure on the revenue and profitability of the industry means they hold significant power 13 NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management The supply pressures that universities may face mainly come from services such as utilities, stationery, and information technology Schools that can provide informatics and telecommunications technology for online software management or apply Turnitin software to academic products will help reduce management costs and increase training efficiency In addition, the pressure on curriculum resources is also a big problem for some schools to borrow textbooks In general, the demand for entrance services of schools is not much so the pressure from providers for higher education is negligible In terms of buyer power, the buyers of universities are mostly students, when the level of student competition between universities is high, the power of students will also be high However, nowadays, the competition between students to enter new universities is fierce so they cannot negotiate with the school about tuition fees or services provided, almost no bargaining power Recently, customers have had a slight difference, becoming richer and more diverse such as researchers, companies and organizations These new customers are more demanding and have considerable power over universities Employers are increasingly demanding the knowledge and skills of students (considered as an output of the school) Therefore, the school has pressure to change its training goals and orientations to meet employers In summary, looking at the above analysis, we can see that there are many factors that can affect the higher education sector but its impact is not large and is being overlooked The Intensity of industry rivalry The issue of building and enhancing university competitiveness in recent years has become more and more urgent for universities in the context of globalization, educational socialization, and autonomy university Every organization operating in any field is subject to the impact of the surrounding environment and the impact of the organization itself; and only improving competitiveness can survive and develop sustainably in the current context It can be seen that the competition among public higher education institutions comes from the expansion and development of domestic private universities; universities have international elements in Vietnam and competition comes from within public universities Especially since 2014, when the Government allowed the pilot of a number of autonomous higher education institutions under Resolution 77/NQ-CP (Government, 2014), the level of competition among public higher education institutions have also become stronger "Hotter" than ever University autonomy can become a driving force for higher education institutions to promote their initiative and creativity, improve operational efficiency, and diversify types of education and training to meet resource requirements country's manpower However, on the other hand, autonomy means that higher education institutions will no longer receive many subsidies from the state budget - a resource that has traditionally been the main source 14 NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management of revenue for most universities public Competitive pressure to survive when there is no longer the advantage of financial resources from the state budget, forcing public schools, especially autonomous schools, to strive to compete with "rivals" Currently, universities open many new majors, competing with each other for admission Schools try to open more trending majors, diverse professions University of Public Health in 2022 for the first time enrolled in Data Science with 50 targets This is a major in the field of Information Technology, specializing in the management of large databases, serving medical digital transformation Attendees will be trained in big data analysis, statistics, machine learning, new technology evaluation, algorithm writing or natural language processing, etc Many new programs such as advanced systems, High quality, and international systems are applied by many schools, helping students have more opportunities to study their favorite major, at their favorite school Hanoi Law University, in 2022, the school will open and enroll more high-quality economic law programs with 50 targets With this program, students will study subjects where at least 30% of the program is taught in English In addition to the variety of subjects, schools also compete with each other on admission methods Compared with public schools and private schools, it is clear that private schools have a much easier admission process, most of them are considered based on academic records and the floor score is not high This attracts students who want to study trends but have limited academic ability, or are leaving themselves a way back, applying for admission to the school As for public schools, many schools expand the selection of excellent students at the high school level, expand admissions with many types of certificates, etc The Finance Academy directly considers students who have consolation prizes in the term exam to select excellent students at provincial and city level; instead of only the third prize and above as in previous years In addition, in 2022, the Academy also expands to candidates with Cambridge intermediate programs, in addition to IELTS and TOEFL certificates like every year The policies on scholarships during study, special courses with preferential tuition rates, help talented people with difficult circumstances to attend prestigious schools without worrying about financial problems The opportunity to enter the lecture hall was then divided equally among students with different backgrounds, classes and conditions In general, the initial competition will cost universities a lot, leading to an increase in student tuition fees However, this is a beneficial investment for both sides, the school and the students The school thanks to good facilities, incentive policies for students, good environment, high teaching quality, with high entry points will attract talented people to study, attract businesses to invest in the school with the need to recruit high-quality 15 NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management personnel On the student side, the investment in tuition fees to attend highly competitive universities and colleges will expose them to a modern and modern environment, trained by highly qualified lecturers, having a lot of experience and training in teaching, and there are wide opportunities to interact with big businesses early Successful students will return to financially support the school In addition, the competition of universities to improve competitiveness to the international level will attract international students or Vietnamese students who intend to study abroad, return to study in Vietnam to study and work work and develop, contribute to the school, the country, reduce the phenomenon of "brain drain" potential talents of Vietnam Thereby, we can see that, in the long run, the competition to build and improve competitiveness among universities will really bring benefits in the long run Competition is an important expression for development, the core to promote development A non-competitive environment will gradually become obsolete and degrade over time However, once the competition is pushed to the climax, it also means that there will be consequences not only for the school but also for the students who will bear the heaviest consequences The prospect when the battle to attract students between universities becomes fiercer, schools pour their budgets into very expensive student attraction campaigns, leading to a cost deficit, or more serious is the fact that some schools use false advertising methods and get into trouble with the government All of these things not only affect the school but also interrupt the educational path of students These are also risks that should be taken into account KEY SUCCESS FACTORS OF THE INDUSTRY Education systems face significant challenges in terms of improving the quality of education provided by their universities and research centers, as well as the development and innovation in management thinking, methods, and behavior, which is a necessary requirement in the building of civilization and education of nations Without a doubt, the quality and assurance requirements in universities, as well as their educational systems and academic programs, will eclipse university intellectual capacity growth and core competencies They must push the development wheel in order to keep up with growth, progress, and progression Critical success variables are investigated in the realm of higher education quality assurance using three main techniques (Zakuan et al., 2012):  Customer focus: To strengthen the student selection process and achieve selfmanagement, the concept of student service is reinforced by staff training and development 16 NATIONAL ECONOMICS UNIVERSITY NEU Business school E-BBA13.1 class Group 06 – Strategic Management  Employees and stakeholders should be prioritized: To assess all work team members' contributions to the efficacy and improvement of the organization's operations, which involves setting policies and priorities in the organizational structure and identifying processes, roles, and workgroups  Focus on ensuring that standards: are implemented in a specific context, that the standards are measurable in the educational process, and that faculty obligations are assessed within a specific period Perhaps the most fundamental assumption of essential success factors is that the company must focus on three to six key elements that are extremely important to it in order to achieve its goals Use these elements to successfully diagnose your information demands As a result, the organization has defined a collection of critical information This has an impact on current and future aspirations (Al-Suwaidi, 2009) Thus, by focusing these elements on crucial characteristics, the importance of critical success factors in the sphere of educational institution administration might emerge (Pasco, 2010):  Strategic planning: entails routinely reviewing the university's core activities and trying to attain its goals on the one hand, and executing the university's key success elements on the other  Measurement: The ability to quantify aspects relevant to the assessment and evaluation of the university's status  Accountability: The effectiveness of the educational process for the institution can be shown to stakeholders by generating expected and accepted results The term Critical Success Factors (CSF) is widely used in many fields and aspects, and the term Education Quality Assurance and its' standards is a term that mimics the trends of higher education in organizations in addressing 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