Threats for IBS program

In this section the results related to threats basically draws from the respondents’ experiences towards IBS program and the alternative higher study destinations available to the respondents if there were tuition fees for IBS program or the respondents were not admitted to this program. The result shows that IBS program may lose its current international-student market share to other Finnish universities or to other foreign universities where IBS program may experience lack of international students’ presence.

I. Losing market share to other business schools of Finland and other business majors of UEF

This study results found active threats for IBS program to lose considerable number of international students, coming from outside of Europe, to its competitors. The respondents claim some other Finnish universities and some other subjects of UEF business school are ahead of IBS program in few factors like- good reputation, accreditation, ranking & campus location. Results of this section disclose that most of the current international students had other Finnish universities in their preference list to accomplish their masters studies. Those alternative universities and subjects are the real competitors for IBS program.

Page 59 of 102

Table 5: List of competitors according to respondents' preferences

Name of respondent

Preferred University Preferred Subject

Respondent 1 Lappeenranta University of Technology

Supply management

Respondent 2 University of Eastern Finland

Information Technology

Respondent 3 University of Oulu Marketing

Respondent 4 University of Turku Culture

Respondent 5 University of Aalto Entrepreneurship Respondent 6 University of Oulu International Business Respondent 7 Hanken school of economics Marketing Respondent 8 University of Turku Innovation Management Respondent 9 University of Vaasa International Business

This section considers the interview responses of the respondents to the interview question “which university you would prefer if you don’t get admission to IBS program of UEF?” to draw the above

‘table 5’ information. The following statement is an example how the respondents’ response to this interview question:

“I was searching for different master’s programs in Finland. My first choice was MBA in Aalto University as my bachelor’s degree was BBA. And second choice was master’s degree in Marketing in Oulu University.”

(Respondent 3)

IBS program can lose its international students market share to those competitors and if the program fails to take effective marketing effort considering international students’ needs and preferences.

Page 60 of 102 II. Shifting of prospective students to other countries

This section findings show that international students pose positive experience on Finnish higher studies environment and facilities, but they are not satisfied about the post-study subject related career opportunities here. The respondents also identify the newly imposed tuition fees as a challenge for international students. In this perspective the respondents think that they would prefer other European countries or English-speaking countries where they would get better return of their invested money for higher education in the form of career development opportunities.

Figure 3: List of popular countries to international students other than Finland

The figure 3 also displays European countries into two separate parts where one group consists of Nordic countries other than Finland and another group are rest of European countries. In Europe Germany, Sweden, Denmark, Norway, France, Spain and UK are most popular alternative to this group of respondents where English-speaking countries like- USA, Canada and Australia can be most popular alternative for higher studies destinations outside Europe according to the respondents’ opinions as those countries business schools’ have almost same amount of tuition fees like IBS program’s. The interview statements below are significant here:

“Probably, I wouldn’t choose Finland for my master’s degree studies if there were tuition fees. Though I appreciate UEF and Finland for better

USA, Canada, Australia

Sweden, Denmark,

Norway Germany,

France, Spain, UK

Page 61 of 102

study environment, after study it is hard to find a study related job. So, I would prefer USA or Canada if I needed to pay tuition fees.” (Respondent 1)

“I must say that if there were tuition fees less than 5000 euros per year, I would consider this program. But if it would be higher than 5000 euros per year, I would go for other countries in Europe. I would look universities in Germany, France and Spain.” (Respondent 3)

In addition to imposed tuition fees, international students are also experiencing hassles of renewing their residence permits to continue studies in Finland. Majority of the respondents identify this renewal process as a burden on them and they consider this is expensive to pay renewal fees every year just to continue study along with paying tuition fees & student union fees in the university.

These reasons are also influencing international students to find alternative study destinations where they can get more benefits of their investment for education at less rate of investments. The following interview statements are exemplary examples to support the finding of this section.

“I think this system is expensive for Non-EU international students to renew residence permit every year for studies. And I think this will be a burden for students like me when I would pay tuition fees as well as these costs every academic year.” (Respondent 3)

“It is expensive to renew residence permit every year.” (Respondent 2)

III. Lack of multinational student environment

The respondents demonstrate that IBS program have limited number of international students.

These respondents joined IBS when MSc in IBS program didn’t have tuition fees. The experiences of the respondents depict that international students of IBS program come from certain countries which are mostly situated in Asia and Africa and students from America or Australia are rare in the program. Thus, the result of this section predicts there will be huge decrease of international

Page 62 of 102

students for the program because of the imposed tuition fees. This may lead IBS program to lack of international student environment where fee paying international students won’t get motivation to join the program as a stranger in the class. The following interview statements disclose the above described situation as a threat for the program:

“Even when there were no tuition fees, I noticed students only from some selected countries. So, now after imposing higher amount of tuition fees, I think IBS program will face a great challenge to see enough Non-EU international students in the class rooms.” (Respondent 1)

“Well, here they don’t have too much international students. If they want to expand themselves as more international, they must hire more students from outside EU areas.” (Respondent 5)

IBS program can consider this threat as a precaution and must try to find out any contingent plan to overcome this threat.

Page 63 of 102