APPLICATION OF BCG AS A STRATEGIC PLANNING TOOL TO ASSESS THE SUSTAINABILITY AND GROWTH OF UNIVERSITY PROGRAMS IN A COMPETITIVE MARKET

Stephen Owusu Afriyie, Yusheng Kong, Michael Owusu Akomeah, Kingsley Appiah, Patrick Obeng Danso

Abstract


With regards to the competitive environment for consumer demand, it is imperative for organizations to utilize reputed models for tactical resource allocation to different strategic business units and products. The work describes and explains the BCG portfolio matrix model to assess five Ghanaian university programs. Effective implementation of the BCG model helps the institution of higher education to achieve the finest status from the viewpoint of competitive positions in the market. The model helps institutions choose which markets and business units to finance on the basis of two features - competitiveness and market attractiveness; with the fundamental drivers for these factors being market share and growth rate respectively. Therefore, for the survival and growth of the product, the firm needs to adopt some effective and operative strategies, and also invests in areas like research and development which will enhance new ideas. Of course, the technological and innovative aspects should also not be disregarded. These strategies will enhance an innovative brand in the existing market which will help the product gain a competitive advantage. This paper attempts to analyse the business model, BCG and how it can seek to promote sustainability and growth of the university programs in a competitive market.


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