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Multiple different strategic and operational planning models are provided that may constructively impact international study planning within an educational institution. The models covered include: Porter's Five Forces, SWOT analysis, VRIO framework, Value Chair Analysis (VCA), and PESTEL analysis.
Keywords: strategic models, planning models, strategic planning, international study, international programs, international study, study programs
INTRODUCTION
AACSB accreditation standards that emphasize a need to internationalize the business curriculum and the school's student experiences impact business schools across North America and throughout the world (Gordon, Heischmidt & Greenwood, 2000; Delahunty, Phusavat, Kess, Kropsu-Vehkapera, & Hidayanto, 2018). Business schools have goals related to international education that impact their planning and delivery of business education to students. These goals likely center on exposing students to a broader area of cultural and business understanding beyond their local community and state. The understanding of international dimensions of business is critical for the success of todays' students studying business and commerce. The implementations of internationalization strategies for students studying in higher education is very important (Alhalwaki & Hamdan, 2019) and the appropriate building block for such efforts starts with an understanding of the multiple environments in which an institution makes plans and decisions.
International business experiences can be approached in a variety of ways. These include in-class reading on international topics, analysis of case studies, and study abroad. An out of country study experience may be viewed as the most preferred approach for business students to learn about international commerce (Blasco, 2009). There needs to be an understanding of the broader environments that impact international study development and specifically consider multiple models of strategic planning associated with successful international study programs (Shahijan, Rezaei, & Preece, 2016). This understand of the impact of environments on decision making start with efforts do developing strategic plans. Strategic plans start with looking at the fit between organizational mission with market opportunities in a context of environmental forces impacting the organization (Drucker, 1973). Functional plans develop to support the organizations strategic plans and mission. After developing functional plans the operational plans are developed to support the implementation of the various plans of the organization.
The common thread of all strategic planning is the consideration of multiple factors that can impact the decisions relevant to the decision under...