Opportunities for IBS program

IBS program is one of the newest programs offered by University of Eastern Finland’s Business school and particularly Kuopio campus of the university. Thus, the student hiring market is not saturated yet and there are plenty of opportunities to further develop the program by improving the program structure and feature along with appropriate student recruitment policy. The findings of this section reveal that IBS program can utilize the opportunities in the form of developing industry collaboration, establishing brand value and marketing activities in existing markets to attract more international students.

I. Developing collaboration

Students’ experiences of this study show that IBS program has amid opportunities to develop collaboration in both academic and recruitment perspectives. International students of the program want extended case company involvement in addition to case company presentation into class lectures. The respondents think this is not a limitation for the IBS program, but it is an opportunity for the program to create an extensive platform for the students as well as for IBS program itself by developing more extensive and long-term collaboration with business companies and firms. In this way IBS program can create its own fund from private sector and it can also play role to render employment opportunities for its students. The following statement can be considered here:

“I think this program structure is almost good from all perspective and the only improvement can be done by increasing case company involvements for students. If the students get more opportunities to work with case companies beyond class lectures, they can gather more experiences of genuine business life.” (Respondent 4)

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The respondents also think IBS program has the opportunity to develop collaboration with some firms in different target markets who help students to find out education destinations. This kind of collaboration will make the marketing of the program and recruiting of students easier. According to the experiences of respondents, at present rarely any Finnish university or university program maintain this kind of collaboration with higher education consultancy firms in the respective respondents’ home countries and IBS program can take first mover advantage in this regard. The interview statement presented below is one of the examples of international students’ experiences in consultancy firms:

“The consultant firms they have lots of experiences. So, the consultancy firms help students by recommending them university and country. Thus, students and parents can find out the most suitable higher education destinations.” (Respondent 2)

II. Building IBS program Brand

The results disclose that IBS program or higher study benefits and opportunities in Finland is not widely communicated. Many of the respondents, who come here to study the program, have joined IBS program either from self-interest to do a master’s program in International Business concentration or for the reason of tuition free education. But in present tuition fee-imposed situation this is an opportunity for IBS program to focus on building brand value and proactive marketing activities to promote the program among its stakeholders. The following interview statement of respondent 5 clarifies why IBS program should focus on branding:

“If they have high amount of tuition fees, Non-EU students will lose their interest to come to study in Finland because many people even don’t know they can come to Finland for higher studies. So, it will be risky for international students to select a program in Finland by paying high amount of tuition fees when they don’t have clear brand information about UEF business school or IBS.” (Respondent 5)

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Respondents of the study also think that IBS program can establish its own brand identity into job markets by enforcing cooperation activities with different multinational business companies. This will make easier for IBS program to recruit professional group of students from those partner companies to the program for their academic knowledge development and it will also give IBS program the opportunity to do job placements of its students into its partner companies. The following interview statements are examples of how significantly respondents of the study emphasis on branding and cooperation activities for IBS program:

“There must be international branding and cooperation activities with globally recognized multinational business companies to make the program more attractive to future students.” (Respondent 6)

“IBS program must establish its own brand identity for job markets.”

(Respondent 9)

III. Attracting more students of existing markets

There are pretty good opportunities for IBS program to attract more students from existing markets. The findings show that existing markets of IBS program have respectable number of prospective students. Now IBS program must execute appropriate policy to decide on its student recruiting markets and to execute appropriate policy to boost up student recruitment. The following quotations of interview respondents imply the opportunities for IBS program to attract students from different existing markets:

“Bangladeshi students are interested in higher studies in Europe for better knowledge development. Many people don’t know about Finland. So, promotional activities can increase IBS program market share.”

(Respondent 6)

“Almost 90% students visit agencies, but I never heard of any agency or consultancy firm who works for Finland in Nigeria.” (Respondent 1)

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Bangladesh, Nigeria and Russia are top most lucrative existing markets for IBS program as the students of these countries show amid interest for higher studies in Europe when many of the students of these countries don’t know Finland can be an excellent choice in Europe for them.