The Future of Avisto Education

The Future of Avisto Education
Business Proposal
Contents
Executive Summary 2
Problem Statements 3
Relevant literature 3
Research objectives and questions 5
Theoretical framework 6
Research methods 7
Contribution of the research 8
Timeline 8
References 9
Executive Summary
The Business Report will be created for Avisto Education for restructuring and developing of their marketing strategy, fee structure of their course offerings, analysing their growth opportunities in terms of enrolments and increasing their rate of graduation, financial viability and investment returns in the future. It will showcase the company’s dependency and sustainability potential. This business research proposal is for Mr. Win Thein, the owner of the company Avisto Education, situated at the Yangon city in Myanmar and Mr. David Lee, the key sponsor as well as the board of directors.
The major problem faced by Avisto is negative financials over the years and reducing enrolments as well as fall in the number of graduates. These issues can be resolved using a deep research and application of recommendations which will be created according to the analysis of theoretical frameworks. For example, SWOT analysis, PESTEL framework, and 7 p’s of marketing mix, all these will contribute towards creating solutions which will be beneficial for the development of the business in all the aspects which need to be improved in order to reform the business. This will also be followed by a detailed bookkeeping and cash flow to keep track of operating expenses and revenue which will be useful to determine the sustainability of the company.
The research entails secondary research, qualitative and quantitative data will be analysed and solutions with their reasonings will be developed. These solutions will centralise the problems identified and will be helpful to conceptualise the future progress of Avisto. The findings after the detailed study will be a solution for the Avisto education company for its profitability and long-term sustainability.
This research helps to plan, develop and write a business report for the board of directors and helps them to undertake well informed decisions about their business. It aims to give them confidence in their business and assures them with a security for their investments. The timeline of the research is important to estimate the fee charges for the consultant, in this case the complete report and presentation will be completed within 3 months. Details of the research, analysis, and development of strategies and solutions is explained below.
Problem Statements
Statement 1
3,750,000 Kyat is a large amount spent on marketing which turned out to be ineffective, this is an issue which needs to be corrected. Spending this much funds should provide a successful marketing campaign.
Statement 2
The major costs for Avisto is Win Thein’s salary, classroom is rented from his brother at 50% of the market rate which is an advantage for the company. There is a problem here regarding the operating costs of the company being high and there is no clear bookkeeping for the expenditure.
Statement 3
The data table clearly shows the number of enrolments decreasing every year which is an obvious issue but, a bigger issue is why each year the number of graduates also decreasing drastically? The problem of students dropping out damages the reputation as well as the business of the company.
Statement 4
The strategy of offering five different courses and their fee structure being 40,000 kyat each is not proving to be a financially viable option. There is an opportunity to add value to the education provided and approach with a different strategy positively converting the business.
Relevant literature
Avisto Education is a small business education company in Myanmar. It is based in Yangon, the largest city in Myanmar. Win Thein started Avisto Education in October 2013 to provide certificate courses in select areas of business and management. The five courses offered by them comprise of Managing Projects, Human Resource Management, Supply Chains, Marketing, and Finance. These courses were of two months duration each and together formed a Certificate in Business. In its four years of functioning Avisto has consistently performed negatively, creating loss for the company. The board and sponsors are not happy with its financials but are interested in giving one opportunity to turn the business around. They are looking for a credible and well researched plan which would provide confidence to continue funding the business. Their goal is to make a positive contribution to economic growth in Myanmar through relevant business education of local people. The second goal is for Avisto Education to be financially viable long term.
Myanmar’s government run education system is in a weak state and is unable to provide quality education for its citizens due to number of political and policy factors. Several years of military authoritarian rule discouraged any contact with the outside world which demoralised their progress of higher education system. Their intent has been to centralise control and create a monopoly over education providers. This was avoided due to strong oppose of public groups and lack of sufficient quality resources which led to a decentralised government (Anderws, T.G. et al., 2017). The private education system was allowed without any obstruction from the government recently in 2011. This has led to several individuals and groups to cease the opportunity and fill the void of quality education. Private education companies, separate ethnic schools, numerous NGO’s have developed their identity working around and avoiding the governments disruptions. Compulsory schooling sector now drives the highly competitive and assessment culture, these players are responding positively to make the most of the opportunity. The desire of middle and upper-class families to provide their children with a competitive advantage, including preparation for overseas study is also acts as a significant catalyst (Lopes Cardozo, et al., 2018).
Myanmar is one such country which has a mixed population Burmese, Chinese, Indian, Thai being the major ethnicities. The country has recently formed a middle-class population who are able to and willing to spend money on tertiary education. This is because of their exposure to the western world, the want to succeed and fight for a better future with the possibility of moving abroad. The situation has opened an opportunity for tertiary education providers to capitalise on. Considering these factors many students still start their education and due to various reasons drop out before finishing. The reasons being financial, change of direction, family commitments, relocation, and more. Many think they can afford the fees but halfway realise that its not easy (Hong, et al., 2019).
These factors affect the number of students available as well as the number of students who graduate. After all this said, research still shows that the education market in Myanmar is positive and there are opportunities to work on. The reason of the market existence is the rising middle-class. The tertiary education provided needs to be refined, polished, and twisted according to the need of the education sector. This will add to the process of resolving the issue of students dropping out without completion and will assist in obtaining a greater number of students (Kandiko, & Lall, 2019).
“The market is totally fresh and the price of making a mistake is very high” said Shakir Moin, marketing director for Coca-Cola in Myanmar. This shows how important it is to have a good marketing strategy and achieve competitive advantage through successful marketing. Customer segmentation, analysis of the market, political, social, economic, technological all these factors must be taken into consideration while developing a marketing plan (Beattie, A. C. 2013). When seeking to reform a business the precedence is taken by improving educational provisions. Reconstruction on institutional infrastructure such as classrooms, supply of electricity, water, competent educational staff, operational costs. Reforming of authoritarian systems and individual attitudes through ideological reconstruction is also necessary for the educational business to achieve a well-known brand identity. Exposure of students and academics to values and procedures, critical and creative skills, democratic rights will lead to democratisation of education. For a long-term development of the institute human resources development is necessary to address concerns (Esson & Wang, 2018).
The educational sector in Myanmar is not largely developed, the low and average wages for people working in this sector gave rise to corruption and bribery. Due to wage issue for the people working in the education sector, it could not function on its full potential. The shifting conditions in the residential and commercial properties market gives rise to a competitive renting market. This allows an individual or company to easily rent commercial spaces on a competitive price and be flexible with the contracts (Rhoads, E.L., et al., 2018).
Research objectives and questions
This research will be conducted to give clarity to our solutions and will help answer our research questions. To understand the effective marketing techniques which would be applicable in Myanmar’s context. This will be achieved through analysing marketing mix and the educational market of Myanmar. Collection of data which will allow the research to become valid and will also help in identification of irregular factors. Understand the communication channels used by the educational community to learn about the operations of the organisation and what information sources are most influential in order to generate support in the right direction. This will help to create a highly effective marketing plan which will be an advantage for targeting people with the right medium, at the right time.
• To examine the specific factors that influence the willingness of student population to pursue tertiary education
• To rationalise the capability and potential of the target audience
• To identify physical and technological features required for offering a variety of course structures and application on valid strategies
• To evaluate the relation between the subject offerings and identification of a structure which delivers the most value
• To suggest ways to improve their operating costs, their marketing and course structure strategies, for maintaining the number of enrolments and graduates
• To determine the capability of the tertiary education in the country and capitalise on its market to turn around the business direction
• To calculate and predict the costs incurred during this reformation which will allow to make an informed decision with the financials in mind
Questions
1. What is the reason behind decreasing enrolments and declining graduates? How can we eliminate these reasons to avoid negative impact and improve the situation?
2. How are the operating costs and other expenditure differentiated? What will be the possible solutions towards minimising these costs and maximising revenue?
3. What will be the strategy for structuring the course which will be financially viable and will deliver value to students and the company?
4. How will Avisto education continue to make a positive contribution to economic growth in Myanmar while capturing the tertiary education sector and becoming financially independent?
Theoretical framework
Dunleavy, et. al. (2018) examines marketing mix as identifying a marketing strategy after completion of customer segmentation and providing the market research. The 7p’s which are product, price, promotion, packaging, positioning, and people. This framework will then be used to continually evaluate and re-evaluate the business activities. This will help to realise why the services offered by Avisto education are valuable and creates successful product offering. It also helps with planning, developing, and executing effective marketing strategies in the future as well (Ataman, M. et al., 2010). The 7 p’s will contribute towards analysing and developing a marketing strategy and to make efficient use of the funds allocated.
SWOT analysis measures the capability of the organisation to achieve sustainable development, it also identifies and reflects on its strengths, weaknesses, opportunities, threats. These help to make a well informed and detail-oriented decision.
Strength: The key features of the organisation which can be capitalised on to gain advantage and achieve successful transition, create a pathway towards a positive conversion of the business. There is high quality of education provided, along with competent educators and passionate individuals contributing towards their vision.
Weakness: These are the features which are weak and there is a need to overcome these obstacles in order to progress. Avisto has little marketing background or experience, the limited social media promotion has resulted in a smaller audience. They have fewer facilities compared to most other competitors and their offerings such as time and place are not that flexible.
Opportunity: This is the area where there is large scope for the business to prosper and capitalise on its sections. Creating an identity for the organization. There aren’t a lot of major players which means there is less competition. So, they can seize the market and develop it gradually.
Threat: these are the imminent obstacles which will be faced in order to function, these are threats which can affect the business. COVID-19 is one such threat which impacts the business (Datamonitor Plc. n.d.).
PESTEL analysis framework will largely help in research of the tertiary education sector in Myanmar. With the results of this framework majority of our research objectives and questions can be answered and strategies will be developed correctly (Yüksel, I. 2012).
Political
• Government policies
• political stability
• corruption
• tax policy
• labour laws
Economical
• Economic growth
• Exchange rates
• Inflation
• disposable income
• unemployment rates
Social
• Population growth
• Career attitudes
• Lifestyle attitudes
• Cultural barriers
Technological
• Technology incentives
• Level of innovation
• Online resources
• Technological awareness
Environmental
• Weather
• Climate
• Environmental policies
Legal
• Discrimination laws
• Ethnic preference policies
• Copyright laws
A well-developed cash flow statement and a statement of financial position will also be developed accordingly for the company to become confident and positive about the reformation, using wider and better strategies.
Research methods
Published information available from other sources that has already been gathered. This information will be relevant to our research topics. Secondary research will be conducted by analysing various material publicly available. This material will include the relevant resources which will be significant to prove the argument. They will provide context and act as a pillar for the recommendations which will be stated. MarketLine and Passport are two data bases available in the University of Waikato Library. A mix of quantitative and qualitative data available from these databases will be used for the research which includes information such as inflation, unemployment, average income, economic capacity (Statista, n.d.). These methods are under secondary research.
Literature study
• Document analysis
• Query based web search
• Statistical analysis
• Evidence based reasoning
• Journal/article study
Contribution of the research
The research on Avisto Education company helps to analyse, plan, develop, prepare business for long run, with addressing all the problems faced by Avisto and the solutions to become the company more profitable and sustainable. We will be able to introduce and define the management risks and tasks associated with the development of financially viable actions. It will contribute towards identifying an approach of structure and strategy, methodology which will be tried and tested, selecting the one which works it the specific context. Automation of all activities associated to the business in all aspects, operating expenses and bookkeeping generated through clear and concise manner. The wide knowledge generated regarding various aspects can be categorised into certain contribution types which enables the business to refer and helps it by guiding towards a profitable future. Avisto education will have a clear vision for the future sustainability and they will be provided with a correct path to work on to achieve this vison, it will also be helpful in answering all the problem statements and research questions. This will be the major contribution of the research to the business.
Timeline
The business report from start to end will take 3 months to be completed.
References
Andrews, T. G., & Htun, K. T. (2017). Corruption in Myanmar: Insights from business and education. In The changing face of corruption in the Asia Pacific (pp. 233-242). Elsevier.
Ataman, M. Berk, Mela, Carl F, & van Heerde, Harald J. (2010). Building brands.
Beattie, A. C. (2013). MARKETING’S PROMISING NEW FRONTIER: MYANMAR; After sanction rollback, Coke, Lever, Yum, MasterCard all set sights on former Burma. Advertising Age, 84(24), 14.
Dunleavy, Lesley, Walshe, Catherine, Oriani, Anna, & Preston, Nancy. (2018). Using the ‘Social Marketing Mix Framework’ to explore recruitment barriers and facilitators in palliative care randomised controlled trials? A narrative synthesis reviews. Palliative Medicine, 32(5), 990–1009. https://doi.org/10.1177/0269216318757623
Hong, Moon Suk, & Kim, Hani. (2019). ‘Forgotten’ democracy, student activism, and higher education in Myanmar: past, present, and future. Asia Pacific Education Review, 20(2), 207–222. https://doi.org/10.1007/s12564-019-09593-1
James Esson & Kevin Wang (2018) Reforming a university during political transformation: a case study of Yangon University in Myanmar, Studies in Higher Education, 43:7, 1184-1195, DOI: 10.1080/03075079.2016.1239250
Lopes Cardozo, Mieke T. A, & Maber, Elizabeth J. T. (2018). Sustainable Peacebuilding and Social Justice in Times of Transition. In Sustainable Peacebuilding and Social Justice in Times of Transition. Springer International Publishing AG.
Rhoads, E.L., & Wittekind, C.T. (2018). Rethinking Land and Property in a “Transitioning” Myanmar: Representations of Isolation, Neglect, and Natural Decline. Journal of Burma Studies 22(2), 171-213. doi:10.1353/jbs.2018.0011.
SWOT Analysis. (n.d.). Datamonitor Plc.
Yüksel, I. (2012). Developing a multi-criteria decision-making model for PESTEL analysis. International Journal of Business and Management, 7(24), 52.
Myanmar – inflation rate 2004-2021. (n.d.). Statista. https://www.statista.com/statistics/525770/inflation-rate-in-myanmar/
Kandiko Howson, C., & Lall, M. (2019). Higher education reform in Myanmar: neoliberalism versus an inclusive developmental agenda. Globalisation, Societies and Education, 1–16. https://doi.org/10.1080/14767724.2019.1689488
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