The world is becoming a smaller place when it comes to communication, travelling, business operations, and education. More and more institutes expand their education services across geographic and cultural boundaries. To prosper on the new frontier, it is important to be aware of the political, economic, social, technological, environmental, and legal factors of the international environment, especially in the light of increased competition in the market of business degree education. This paper is aimed to elaborate on how to harness the benefits of the globalization and mitigate the threats by finding the balance between global trends and local Australian realities, using the University of New South Wales (UNSW) and its Australian School of Business: AGSM (AGSM) as an example.Question 1. a)The AGSM MBA Program, delivered by the Australian School of Business, was ranked as the leading full-time MBA in Australia and 35th in the world in the Financial Times (UK) 2011 ranking of the top 100 global MBA programs. This is the 12th consecutive year the AGSM MBA Program has ranked in the top 100 MBA programs worldwide. The University is known for strong commitment to international students which comprise over 63%. It had the highest proportion of teachers with PhDs and current business experience. It also had the most rigorous entry requirements for students: its incoming students in 2011 had, on average, seven years of experience; and foreign students’ average English literacy score was 8, higher than the minimum of 6.5. In 2011, 254 students enrolled, compared with 46 in the regular MBA course. The school’s EMBA alumni highly rated its reputation, alumni network, availability in other capitals and capstone final year. In order to assess effectiveness of the international marketing strategy of the University of New South Wales (UNSW), it is essential to employ a PESTEL analysis that will help to critically analyze the international marketing environment. PoliticalThe interest to business degree programs has been continuously increasing in large part due to the initiatives of the Australian federal government. Universities are supported in their attempts to attract foreign students to decrease the balance of payments deficit. Australia is positioned as an international player in the education market. Therefore, it exports its education services to key Asian countries such as Singapore, Hong Kong, Malaysia, Thailand, and many other countries over the globe. Universities can achieve financial benefits by charging tuition fees well beyond the cover rate and accumulate any surplus obtained.EconomicAlthough global economic downturn squeezed consumers’ budgets, demand for business degree education in Australia is constantly increasing. This industry makes substantial contribution to the national economy. Currently there are about 96 000 international university students studying in Australia representing 120 different countries and comprising 10% of the total student body (Selected Higher Education Statistics, 2011). It is estimated that international students in higher education in Australia now contribute about $3.2 billion to the total economy.SocialChanging lifestyle and liberalization of movement of persons contribute to expanded travelling opportunities, for educational purposes as well.TechnologicalThe rising demand for business degree programs …
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