One could argue that a University generally - and the Graduate Business Programs
ID: 390873 • Letter: O
Question
One could argue that a University generally - and the Graduate Business Programs specifically mirror the aforementioned contrast - The university is the "big company" and the Graduate Business Division is the "entrepreneur."
In this framework, can you visualize the Graduate Business Division successful regarding innovation? Marketing of products?
Can a Master's Degree be considered in the "product lifecycle"? Why or why not?
Outside of eliminating a program, what other "tweaks" could the Division make to optimize the degree (in line with product lifecycle approach)? Is changing the degree program name truly an advantageous strategy, for example? Or, could the existing name be leveraged in different niches in which it may resonate?
Explanation / Answer
In this framework, can you visualize the Graduate Business Division successful regarding innovation? Marketing of products?
Yes, in the framework that “The University is the "big company" and the Graduate Business Division is the "entrepreneur” can be successful in terms of innovation and the marketing of products. The Graduate business division can provide innovative concepts such as introducing demo entrepreneurs in real-life situations. The students can take up initiatives to start-up a small business and understand how to make it successful. This innovative concept of real-time study helps the students to be successful and the program itself would be a great success based on this concept. The Graduate Business Division can market its products and concepts innovatively. The program can emphasize on real-time learning and entrepreneurial studies.
Can a Master's Degree be considered in the "product lifecycle"? Why or why not?
Yes, Master’s Degree can be considered in the “product lifecycle”. During the initial stages of its conception (introduction stage), the program would invite more admissions and there will be steady increase in the growth (growth stage) of the Master’s Degree program. This is because once the Master’s Degree reaches the maturity stage, then the number of admissions would decline drastically. Until the University innovatively introduces concepts and markets them accordingly, there will be just stability in the Master’s Degree program.
Outside of eliminating a program, what other "tweaks" could the Division make to optimize the degree (in line with product lifecycle approach)? Is changing the degree program name truly an advantageous strategy, for example? Or, could the existing name be leveraged in different niches in which it may resonate?
Some examples of tweaking the Division could make to optimize is to associate the program with that of big companies or corporate. The hands-on experience that the students get from such reputed companies would be an innovative concept in marketing the program to the potential learning group.
Personally speaking, changing the degree program is not an advantageous strategy as it might be confusing for the students who would pursue the course. The name of the program is already an established brand in the University. Hence, changing its name is not a viable option. The existing name can be leveraged in different niches in which it may resonate.
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