Business Strategy
According to the 5 forces, I would argue that this industry is indeed profitable if you are a company currently within it. There aren’t any strong forces to be worried about, and this industry is a tough one to break into. Kean will have no problem having students for the foreseeable future.
A competitive strategy is a strategy in which an organization selects the way it will accomplish success in its industry. Kean University follows a cost, focused competitive strategy. Meaning, the company holds the lowest cost within a focused industry segment. Kean is a part of the universities segment of the educational services industry. Kean has been named the cheapest university within New Jersey, while delivering a world-class education. As a result, the university stands apart from its competitors. This is an attractive advantage that gains the attention from prospective students. Due to this competitive advantage, Kean is equipped to fight against the threats from the five forces. Their customers want an inexpensive educational experience and Kean offers just that. Meaning, the institution is ahead of its rivalry by offering low costs. Threat of substitution may also be a thought of concern but Kean offers different ways to gain an education, like online programs and courses. Kean University provides their students with an exceptional education taught by well-knowledgeable professors, all while keeping tuition at a minimum. Without a doubt, the institution holds a known competitive advantage against other universities.
A value chain is defined as a network of value-creating activities in which a company undergoes (Kroenke, Boyle, p. 43). There are two types of activities within the value chain, primary and secondary. Primary activities include activities that directly contribute to the production, sale, and/or service of a product. These activities involve inbound logistics, operations and manufacturing, outbound logistics, sales and marketing, and customer service. Kean implements all of these primary activities. As of inbound logistics, Kean has numerous suppliers that mail the necessary products needed. For instance, the admissions office receives products like customized apparel, pendants, stationery, totes, giveaway items, etc. that are used in the operations/manufacturing activity. These products are held in a storage closet solely for the Admissions office. To accomplish the operations and manufacturing activity the department has roughly 30 student ambassadors to transform inputs into products. The ambassadors take the products and assemble packets, merchandise-filled bags, acceptance letters, and other giveaways. Which leads us to the next primary activity of outbound logistics. These products are usually mailed out or used at numerous events. Some events include open houses, information sessions, tours, or accepted students day. These events and products play a vital role in the sales and marketing activity of the value chain. Kean engages mostly with digital marketing through their website and social media accounts. They also market on public buses with the Kean colors and logo. In addition, the institution holds significant partnerships that assist with marketing. These partnerships include NY Jets, NY Red Bulls, and nearby restaurants and convenience stores. Lastly, customer service is implemented through Kean’s counselors, admission advisors, and student ambassadors. When there is a complaint or issue, students have the ability to reach out to any staff member for assistance. These primary activities are, without a doubt, vital to the operations of Kean University and its Admissions office.
Business processes are networks of activities that generate value. This is done by transforming inputs into outputs. There are two types of processes, structured and dynamic. Structured refers to business processes that have defined inputs and outputs. The steps to achieving the process are completed in the same sequence each time. Kean’s Admissions office implements a structured process of enrollment. It begins by student recruitment and reaching out to prospective students. This is mainly done through events and high school visits. Once an individual demonstrates interest in Kean, they are frequently contacted to get them motivated to apply. When a prospective student applies, they are required to make an account on the online application portal. The moment they create an account, they are automatically entered into the database. This database is called Slate, this is where staff members can see all information pertaining to the applicant. On the other side, the applicant will have access to their student portal to view and edit their application. The student portal and slate are essentially connected. After the application has been submitted, the admission advisors can view it and determine an acceptance decision. On the other hand, dynamic processes are completed differently each time. The Admissions office engages in a dynamic marketing process. There are numerous ways in which Kean markets. These include events, tours, social media, word of mouth, high school visits, and many more. Each marketing strategy is unique and implemented differently depending on the audience. For instance, when creating social media posts, the content will be different each time. Content is altered in relation to the occasion and those being targeted. These two forms of processes, structured and dynamic, are vital in achieving organizational goals.
Examples of information systems used by Kean college admissions are slate.org, and social media pages such as Instagram and tik tok. Other information systems are the online application portal and Keanwise. For instance, slate.org is a database that stores information regarding prospective students who inquired, students who have applied, and current students. It allows users to see their application and their online portal. We can see when they were contacted and when they opened an email. It also enables us to view any documents students are missing for their applications as well as see their application status. To add on, the online application portal is the student's version of “slate.org” but students only see what's related to their application. In the portal, students apply, view applications, talk to their admissions counselor, and can upload their documents.
Kean university has gained a competitive advantage over other collegiate institutions through its effective implementation of products and processes. Kean University's student experience and departmental efficiency have greatly improved since implementing Slate's data management information system. Slate's easily operated interface fosters consistent communication and connection among students, Kean's student ambassadors, and administrative personnel, serving as a one-stop-shop for all enrollment-related matters. The system's automation allows for tailored application checklist items based on specific programs, while tracking chronological changes to student records and timestamps of field updates ensures data integrity. Slate's organization of data in a more user-friendly manner facilitates better communication and appointment management, resulting in increased efficiency. Additionally, Slate streamlines the data collection process using forms and provides excellent duplicate matching tools to prevent duplicate records, thereby improving data accuracy and consistency in Kean's system.
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