Business Decision Theory Hi -- Essay

Excerpt from Essay :



Public Television: A Baby Step To Education And Services-Based Economy

In overcoming their internal constraints as defined in the case study, Nik and his management team must put educational television in the context of a broader strategy of creating vocational schools that will give Kavaians the opportunity to learn trades and skills necessary to the education, healthcare, finance, and tourism services industries. Using public television to provide the baseline series of skills needed by island residents to continue into vocational skills is an example of a strategy that seeks a reciprocal approach to Corporate Social Responsibility (CSR) over time (Jansen, 2008). The use of public television to fuel the development of vocational schools could also serve as the catalyst for Nik and his management team to create joint ventures with other learning institutions and enrich Kava's citizens who will need these skills to earn a living in the future. Of all factors or determinants of nations' ability to grow economically, educational attainment and an investment in education is considered to be, through empirical analysis, consistently one of the most prevalent globally in emerging economies (Permani, 2009). Nik and his teams' ability to grow their enterprise over the long-term is predicated on their ability to both infuse greater value into the Kava economy while also creating more value as a result. In this sense the development of an education value chain on the island nation will serve as the catalyst and foundation of growth in other industries as well. The services sectors of education, healthcare, finance, and tourism will all benefit from the management team choosing to use public television as the basis for creating interest in vocational schools. The schools themselves would be underwritten by tuition, financing through microlending programs created as part of financial services Nik and his team could create as a value-added service, and regional, national and global grants for public television stations. Nik and his team would need to also create an audit and oversight committee to ensure there is a high level of ethicacy in their financial management of grants to run the public television station while at the same time running the vocational schools and financing services. For those organizations participating in corporate social responsibility initiatives and programs receiving financing in part to subsidize their efforts, it is critical that they create oversight and audit committees and initiatives (Malloy, Agarwal, 2003).

Conclusion

Of the many strategies that Nik and his team could undertake, it is critically important to consider how their strategic decisions will impact the island nation, enriching it as their own enterprises gain. Going after the educational system and seeking to create profitable businesses is crucial for the island to shift from agricultural to services-based economy. Further, educational system investments and a business that seeks to create an educational value chain will serve as the catalyst of growth for the healthcare, finance, and tourism industries for the island nation as well. As empirical studies have shown that investments in educational systems can in fact transform entire economies (Permani, 2009), this area needs to be where Nik needs to concentrate on first. Ancillary businesses over time will grow as a result of this focus and will also solve potentially significant social problems on Kava before they become significant and drain the country of valuable resources.

References

Jansen, I.. (2008). (Higher) Education for Sustainable Development. Global Watch, 3(3), 47-66.

David Cruise Malloy, James Agarwal. (2003). Factors influencing ethical climate in a nonprofit organisation: An empirical investigation. International Journal of Nonprofit and Voluntary Sector Marketing, 8(3), 224-250.

Permani, R. (2009). The Role of Education in Economic Growth in East Asia: a…

Sources Used in Document:

References

Jansen, I.. (2008). (Higher) Education for Sustainable Development. Global Watch, 3(3), 47-66.

David Cruise Malloy, James Agarwal. (2003). Factors influencing ethical climate in a nonprofit organisation: An empirical investigation. International Journal of Nonprofit and Voluntary Sector Marketing, 8(3), 224-250.

Permani, R. (2009). The Role of Education in Economic Growth in East Asia: a survey. Asian - Pacific Economic Literature, 23(1), 1-20.

Gunther Rehme (2007). Education, Economic Growth and Measured Income Inequality. Economica, 74(295), 493.

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