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154-6) paid attention.

Technological changes eliminate cost barrier, create shortages in technical skills, and result in changing value and expectations of overseas student. In the global / overseas student market, high tech institutions have an advantage; identification and evaluation of key technological opportunities and threats can be the most important part of the external strategic management audit.

Speed of change and adoption of new technology, level of expenditure on research and development (R&D) by colleges and universities rival and pace of technological change are future technological factors.

3. THE COMPETITIVE OVERSEAS MARKET ENVIRONMENT – THE CONTRIBUTION OF PORTER

Inherent within the notion of strategy is the issue of competitiveness, analyzing industry attractiveness, and Porter’s (1979) five forces model is used. The establishment of strategy for a new college of higher learning proposed in London for the overseas student market is about gaining advantage over competitors (established colleges and universities nationally, pan European and globally) in the education sector market.

Porter’s five forces framework as shown in figure 2, helps identify the sources of competition in the education sector, and as a way of assessing the attractiveness that is profit potential of overseas student market.

The underlying force in the macro-environment driven competitive forces are:-

The bargaining power of supplier

The bargaining power of buyers

The threat of potential new entrants

The threat of substitutes

The extent of competitive rivalry

The above five forces are not independent of each other, connection between competitive forces and the key driver in macro-environment is essential. Pressures from one direction can trigger off changes in another in a dynamic process of shifting sources of competition.

Industry

Competitors

Rivalry among

Existing firms

Potential

Entrants

Buyers

Suppliers

Substitutes

Bargaining power

of suppliers

Bargaining power

of buyers

Threat of

substitude products

or services

Threat of

new entrants

The objectives of such an analysis investigated how a new college of higher learning in London forming its strategy in other to develop opportunities for the overseas student market and protect itself against competition and other threats.

3.1 The Threats of Potential New Entrants:

A new college of higher education to be base in London is a new entrant coming into a market place when the profit margins are attractive and the barriers to entry are low. The allure of high profitability is clear and so the major strategic issue is that of barriers to entry into an overseas student market. Barriers to entry are factors that need to be overcome by a new college if the private equity syndicate management are to compete successfully.

Typically major sources of barriers to entry are:-

3.1.1 Economic of Scale:

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