Factors That Affects the Education Industry Essay Example
The major four functions of management involve planning, controlling, organizing and leading. These functions can be affected by the internal and external factors in a business environment. The external forces that affect the functions of a business include sociological, political, economical and technological (Montana & Charnov, 2000)
Internal factors
Internal factors or environment of a business consists of the organizational resources available to accomplish its goals. These are ( Montana & Charnov 2000)
Human resources
Administrators, teachers, administrative personal and cleaners are the workforce that the education industry to achieve their goals of yield and revenue.
Technological resources
Technological resources refers to the applied techniques which make operations easier. Like the new systems in Georgia to increase the number of students of higher education in future years, changing the admissions requirements (elimination of the SAT/ACT testing requirement) and adding new programs, a new state college, and expanded missions (such as the recent change of four two-year colleges to state colleges). (University System of Georgia)
Financial resources
Tuition is, on average, the most important source of revenues. The tuition can be separated according to the type of institution: institutions granting doctoral degrees (41%), liberal arts colleges (38.8%), master’s degree as the highest level of offering (12.4%), and specialty schools (4.7%) (William O. Brown)
The second most important sources are the auxiliary enterprises as dorms, food service, bookstores, etc, also coming from student revenue source. It is important to notice that schools that rely more heavily on funds from student housing, bookstores, campus dining and related student services are more sensitive to meeting student demands (William O. Brown).
The subsidies will likely increase the total resources devoted to education. This may improve teaching quality. However, if these
Internal factors
Internal factors or environment of a business consists of the organizational resources available to accomplish its goals. These are ( Montana & Charnov 2000)
Human resources
Administrators, teachers, administrative personal and cleaners are the workforce that the education industry to achieve their goals of yield and revenue.
Technological resources
Technological resources refers to the applied techniques which make operations easier. Like the new systems in Georgia to increase the number of students of higher education in future years, changing the admissions requirements (elimination of the SAT/ACT testing requirement) and adding new programs, a new state college, and expanded missions (such as the recent change of four two-year colleges to state colleges). (University System of Georgia)
Financial resources
Tuition is, on average, the most important source of revenues. The tuition can be separated according to the type of institution: institutions granting doctoral degrees (41%), liberal arts colleges (38.8%), master’s degree as the highest level of offering (12.4%), and specialty schools (4.7%) (William O. Brown)
The second most important sources are the auxiliary enterprises as dorms, food service, bookstores, etc, also coming from student revenue source. It is important to notice that schools that rely more heavily on funds from student housing, bookstores, campus dining and related student services are more sensitive to meeting student demands (William O. Brown).
The subsidies will likely increase the total resources devoted to education. This may improve teaching quality. However, if these