STRATEGIC MODELING FOR A PRIVATE UNIVERSITY OF : STATE OF THE ART AND LOOKING BEYOND Showkat Ara Khanam* Muhammad Ruhul Amin**

ABSTRACT

This paper strives for sketching a strategic modeling for private universities in Bangladesh. The purpose of the work is to provide guidelines for these universities so that they can achieve strategic advantages and leapfrog their competitors’ strate- gies. Various Western and non-Western strategic models are examined and their converging and diverging characteristics are spelled out. The problems of applying the Western models in the context of the organizations of developing countries are identified. The research finds that the authorities of Bangladesh’s private universi- ties are prone to run the management activities in line of the strategic models set by the Western authors which is the most important contributing factor behind the management failure of these knowledge industries. The present work seeks to devise a viable strategic model named Structural Strategic Intertwining model for underdeveloped countries (S2IU) as the appropriate strategic management which seeks a middle path between the twin-extremes of the top-down and bottom-up approaches. It purports to put a fair check on the unbridled power-exercise of the top-down model and exerts control on the down-trodden awkwardness of an organization’s falling prey to the bottom-up paradigm. The proposed non-Western strategic theory thus provides a space of nurturing loose autonomy with high levels of accountability, transparency and vibrancy.

Key Words: Competitiveness, Strategic Management, Modus Operandi, Minimax Strategy, Program Improvement

INTRODUCTION

Strategic modeling helps all levels of management hierarchy to strategically manage the organization by reviewing the past, reactivating the present and revital- izing the future for an organization. Despite manifold potentials for flourishing and prospects for flowering, most private universities of Bangladesh nowadays stand at critical crossroads at a time when the country improved its competitive index (CI) on global standards. This work that the scarcity of a viable strategic paradigm, lack of strong vision, absence of effective mission and the inherent or in-built shortcom- ings of the chosen strategies, the higher education on private sectors suffers the major setback. The purpose of this paper is to strive for sketching a strategic model- ing for these universities so that they can achieve strategic advantage and leapfrog their competitors’ strategies.

* Assistant Professor of Strategic and International Management, Green Business School, Green University of Bangladesh ** Professor, Department of International Relations, The University of Journal of Green Business School, Volume 1, Issue 1, January - December 2018

Structurally and content-wise, the present paper is organized into five sections. Section one is introduction which includes the researcher’s hypothesis, research methodology, limitations and analytical roadmap. Section two analyzes the significance and importance of building strategic models for organizational effectiveness and management efficiency. A comparative perspective of Western and non-Western models is described in section three with detailing of the converg- ing and diverging characteristics of these models and explaining the reasons why the Western models cannot be applied in the managerial tasks of the organizations of the developing countries. Section four is an effort to devise a non-Western model entitled Strategic Structural Intertwining Model which is suitable for efficiently managing the business organizations of most organizations in the developing coun- tries located in African and Asian continents. The basic characteristics and features of the proposed model along with its operational modus operandi are discussed in this section. Section five draws a conclusion.

HYPOTHESIS

There is no denying the fact that the managers of organizations in develop- ing countries face problems when applying Western models in the day-to-day business operations which requires a viable strategic management model suitable in the context of the realities of their business world. This research is based on the theme that the strategies of the developing or underdeveloped countries of most Afro-Asian countries are conceptually, qualitatively and fundamentally different from those of the developed countries in the West both in the theoretical construct and in the operational challenges. This leads the researcher to structure the hypoth- esis in order to devise a sustainable strategic model which is conducive for the business operation of the developing countries in general and for the private univer- sities of Bangladesh in particular.

METHODOLOGY

The present work is based on both primary and secondary sources of mate- rials. The books and literatures published globally on strategic management model- ing are widely studied to understand the different perspectives of strategic manage- ment and efforts are made to test their goodness of fit for the organizations of devel- oping countries. The website, brochure, leaflet and other information sheets on the private universities of Bangladesh are considered to have a clear picture of the oper- ational aspects of these knowledge industries. The archives and records of the Ministry of Education of Bangladesh Government are reviewed to understand the government policy to run this service sector. The high profile management execu

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tives of the Ministry of Education, University Grand Commission as well as the corporate and business executives of a number of notable private universities are also interviewed to comprehend the discrepancies between the theory and practice of running the universities at private level.

Sampling In total, there are over 100 universities privately run in BD. Some of these knowledge providing service industries are performing excellently, some of them moderately and others are performing badly. While sampling, researchers selected the required number of universities from among all categories of universities based on their performances. The criteria for judging the performance based stratus of these universities include ranking provided by different evaluating organizations, job market demand of their graduates, technological capabilities, management capabilities, standard of teaching and so on. Limitations

While gathering data and installing this research, the author encounters a number of practical issues posing challenges to the present work and thus serving limitations for this. The data and information on private universities are not easily available. The data that can be collected are not well-documented and well-orga- nized. Most of the authorities and executives of private universities as well as the Ministry of Education are unwilling to disclose privacy which provides the author an impression that they are skeptical about the data and resources possessed by them right at this moment. Some people even smell conspiracy if they are asked about any aspect of their university.

WHY STRATEGIC MODELING?

We need to unlearn many aspects of strategic management that we learnt before and relearn them in view of the characteristics featured by Bangladesh’s private universities. Like other business organizations, private universities always face challenges from the rival universities. Each and every university is committed to compete and strives to achieve competitive advantages. Each and every of such organizations must always tend to leapfrog the rivals’ strategies in order to gain efficiency and effectiveness by outweighing the management performances of the competing universities. A private university which is a non-business organization or knowledge firm needs to increase its Return on Investment (ROI) for its survival and sustainable growth. Strategic modeling works as the important means to that direction.

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Certain terms, such as policies, strategies, objectives and vision need to be clarified first in order to fight the ambiguity contained in their underlying connota- tions. The word ‘policy’ refers to the means by which short-term objectives are achieved, whereas ‘strategy’ indicates the means by which long-term objectives are attained. Strategies include both plans and actions thereby classifying into intended strategies and realized strategies. The term ‘objective’ refers to specific results that an organization seeks to achieve in order to realize its mission. Objectives that are sought in more than one year are called long-term objectives. Thus annual objec- tives are considered as the short-term gains that are realized to achieve long term goals. Thus strategies are future-oriented that affect an organization’s long term prosperity for at least five years.

The term ‘strategic modeling’ refers to the structure or paradigm based on which an organization can craft its strategic management in order to formulate its strategies and get economic and non-economic benefits through the implementa- tion of its adopted strategies. Through strategic management a university can achieve and maintain competitive advantage. The competitiveness of an organiza- tion represents anything that it does especially well compared to rival organiza- tions.

For instance, International University (SIU) offers quality education at lower tuition fees than its competing universities, such as , Northeast University, and Metropolitan University. In this case, SIU may be said to have gained competitive advantage. Also unlike its competitors, SIU stands on its own campus since its founding day. The magnificent, colorful and lakeview-river- view landscape adds competitive advantage to SIU branding. However, it is not adequate to merely obtain competitiveness; an organization must try to sustain a competitive advantage. In order to achieve sustainable competitiveness, an organi- zation requires a viable strategic model which may provide two things: (a) to formu- late sustainable strategy and (b) to continually adapt to changes in both external trends and internal dynamics. In another word, strategic model incorporates multi- functional and multidivisional consequences that require considerations of both internal and external factors of an organization.

STRATEGIC MODELING: WESTERN AND NON-WESTERN PERSPECTIVES

Models usually differ from country to country, region to region and business to business. Most of the management treatises existing today on strategic management highlight the typical Western perspectives of strategic planning.

The fundamental differences between the Western and non-Western

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models are identified and the problems of applying Western models for developing countries are examined in this section.

Diagram 1 sketch below represents the strategic modeling devised by Thompson, Strickland 111, and Gamble.

Diagram 1: Thompsonian Model

Source: Arthur A. Thompson Jr. et.al. p. 24

The Thompsonian model which is labeled as the Strategy-Making, strate- gy-Executing Process is focused on five interrelated and integrated tasks that are conducted step by step in different phases. The successful and phased completion of those activities leads the paradigm towards inception into reality of a sustained strategic planning. The interrelationship and integration among these phases char- acterizes the distinctiveness of the model.

In line with the Thompsonian model, another extreme of the Western strate- gic model is developed by Fred R. David which may be labeled as the Davidian Model and exposed in diagram 2.

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Diagram 2: The Davidian Model: A Comprehensive Strategic Model

Perform external audit

Implement Implement Developing Se�ng Select strategies marke�ng, Evaluate vision and long-term strategies finance, performance mission objec�ves R&D, MIS strategies

Perform internal audit

Source: Constructed by the author adapting from David’s Comprehensive Strategic Model

In his model, David focuses on identifying the vision, mission and objec- tives of an organization and emphasizes on its functional activities including the marketing, finance, accounting, R&D, and MIS issues. Also in this model, the inter- nal and external aspects of the organization are exogenously incorporated in the core of its structure. This model is named by David as comprehensive strategic model and is founded on the spirit of seeking competitive approach for managing organizations with a view to achieving long-term sustainable advantages.

Another Western model of strategic management is known as Strategic Planning Process which is developed by Weihrich and Koontz. This Weih-Koont- zian model is shown in diagram 3.

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Diagram 3: Weih-Koontzian Model: Strategic Planning Process

Source: Derived from Heinz Weihrich

The Weih-Koontzian strategic planning success revolves around some key elements, such as organizational inputs, industry profile, management priorities, objectives and strategies. One important aspect of the strategic planning process involves the testing for consistency and preparing for contingency plans. The strate- gic planning model shows how the process works. The identification of the critical elements of the planning process and their interrelationship distinguishes the Weih-Koontzian model from other ones.

STRATEGIC STRUCTURAL INTERTWINING MODEL FOR UNDERDEVEL- OPED COUNTRIES: THE S2IU MODEL

A non-Western strategic model may be discovered in between above extremes. Diagram 4 provides the art of building the non-Western strategic para- digm which is distinct from the Western modeling and applicable for most Afro-Asian counties including Bangladesh. The newly-devised model may be named as Strategic Structural Intertwining model for underdeveloped countries or S2IU model for short.

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BASIC TENETS AND CHARACTERISTICS

The S2IU model is like a paradigm-mansion which is built on a solid foun- dation comprised with four strategic pillars. The four pillars are the four levels of strategists that include the corporate, business, functional and operating level man- agers. The shining vision placed on the top of the S2IU paradigm is held jointly by all levels of strategists who would want to reach the similar destination. All of them thus share the same vision, mission and goals. The sparkling sunlight stretching from the emerging quiche of the sun symbolizes the prismic pictures of sharing the spirit and themes of the vision contained in the model. The idea that vision is tight-gripped by the strategic foundation expresses the interrelationship and integration of all four strategists whose twin-arms hold the objectives, activities and strategies of the organization. In another word, strategic vision must be considered as the super-ordinate goal of all strata of strategic management and to that end, strategies are formulated and activities are geared up.

Diagram 4: S2IU Model

Source: Developed by the author

Similar to the Western models, the proposed model seeks integration and interrelationship between and among the different strategic tasks in the different

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phases. However unlike the Thompsonian, Davidian and Weih-Koontzian models, the S2IU paradigm does not eschew the interrelationship of the four strategist levels to the strategic tasks; rather integrates each and every strategist level into each and every strategic activity at different phases. Moreover, the model seeks to identify close cooperation and coordination between and among the different strategists. Thus the intricate web of multi-level interrelationship between each and every strat- egist(s) and between each and every strategic task(s), and the multi-tier integration between and among different strategist levels and strategic tasks distinguishes the S2IU model from the Western models.

The S2IU theory contends that each and every strategist enjoys freedom, autonomy and independence in formulating the respective strategies. However, freedom and independence would not be enjoyed like most of our private universi- ties in limitless and arbitrary ways. The strategy-making hierarchy as contained in the S2IU model clearly draws the boundary and limitation of the strategists’ inde- pendence. The strategists would work with utmost transparency, vibrancy and innovation under the supervision, control and advise of the upper level strategists. Since the power of freedom and autonomy of the strategic managers springs from the BOT, none of them should misuse and usurp it and cross the frontier of freedom. Thus each and every down level strategist (s) would be confined independently in its province of freedom, and adopt and execute strategies under the overall guid- ance and instruction of Board of Trustees (BOT) keeping in view of the vision and goals set by BOT. The S2IU model presupposes that the transparency and integrity of the strategists may be maintained by close cooperation and coordination between and among each other while formulating and implementing strategies. Although strategic tasks are designed and framed independently in different phases under the S2IU model, the tasks need to be accomplished by maintaining coordination and liaison between and among them. Finally, strategic tasks would be interrelated and integrated into the different strategist levels. The lack of transparency, unbridled autonomy and frontier violation have been the major contributing factor to the intra and inter-strategist as well as intra and inter-management conflicts so far arisen at different universities including , Southeast University, Atish Dipankar University of Science and Technology, and so on. As the S2IU model suggests that there should be coordination and cooperation between and among the four strategist levels of management, they must share the strategic goals, objectives and vision. This necessitates setting long-term goals and objectives of the university, analyzing its internal and external situations, conduct- ing mission activities, and adopting strategy-taking and strategy-implementing tasks by all levels of strategic managers. Thus the vision and objectives of the corpo- rate level strategic planning must be implemented by the sustained strategies adopted by the strategic managers at business, functional and operating levels

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through continuous fine-tuning of the business models, themes and approaches, functional activities and front line operating. The strategy-making hierarchy demonstrated by the S2IU model shapes the down level strategists the responsibili- ty of realizing the vision of the BOT through strategies of maintaining institutional development, resource capacity building, academic excellence, infrastructural development, local and foreign collaboration, research facilities, faculty diversifica- tion and the like.

For example, if the vision and objectives of the Board of Trustees which is a corporate level of strategist of a private university is not understood very clearly by the Vice Chancellor and Deans of Faculties, the functional activities of different departments and administrative wings cannot be appropriately accomplished by the functional-operating managers. This results in the continuous degradation of the academic standard, faculty excellence, student quality, resource generation, research and development tasks of most private universities in Bangladesh.

THE S2IU MODEL: OPERATIONAL MODUS OPERANDI

The operational modus operandi as envisaged by the S2IU model gives guidelines of using the proposed model in the strategic management process. Oper- ational modus operandi as shown in Diagram 5 indicates the distinct features of the S2IU model by combining both the ends and means of strategy-taking and the process of strategic management. While the Western models focus on strategic tasks and strategic activities, the S2IU model orients to uphold the strategic management process as the whole-integrated phenomenon between the strategic moves, strate- gists’ initiatives and their adopted strategies.

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Diagram 5: Operational Modus Operandi

Board of Trustees (Corporate Strategy)

VC, Pro VC, Faculty Deans (Business Strategy)

Academic Heads, Treasurer, Directors, (Functional Strategy)

Registrar, Exam Controller, HR Manager, Secretaries, Admn Managers (Operating Strategy)

EXo END VVV SA

CA MM MM

Source: Prepared by Author

The positioning of four levels of strategic managers on the top of the vision signifies that each and every strategist is committed to cherish a vision which is identical to all of them and strives to consider it as their super ordinate goal. The vision provided by the Board of Trustees for their university needs to be translated into reality through plans and strategies formulated by the Vice Chancellor, Pro Vice Chancellor, and Faculty Deans who work as the business level strategists. The plans and strategies should also be actualized and implemented by the Departmen

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tal Heads, Treasurer, Directors, and Academic Managers who serve as the function- al managers. Finally, the strategic tasks are accomplished by the Registrar, Exam Controller, HR Manager, Audit and Accounting Managers, Secretaries and the Administrative Personnel who work as the operating level managers.

The operational modus operandi show the direction towards effective implementation of the S2IU model. This requires strategic managers at all levels to understand, dissect and evaluate a university from internal and external perspec- tives. Hence, an analysis of the endogenous and exogenous variables remains an important precondition to structure and operate the proposed S2IU model. The evaluation of a university’s profile through the CAM, ENDoV and EXoV matrixes that are sketched and explained in the next section helps the strategic managers to adopt sustained strategies and expedite effective implementation leading the university to achieve competitive advantage and sustainable growth.

The Minimax Strategy chart drawn in a later section demonstrates the endogenous-exogenous analysis of a university and provides a viable strategy to achieve competitive advantage by minimizing threats and weaknesses and maxi- mizing opportunities and strengths coming from the endogenous and exogenous sources.

FUNCTIONING OF S2IU MODEL: DISSECTING THE UNIVERSITY

The strategic managers must try to prevent chosen strategic model form being dysfunctional. The smooth functioning of the model requires a thorough understanding of a university’s competitive profile and its internal and external situations. To that end, we may employ the ENDoV, EXoV and CAM matrixes similar to IFE, EFE, and CAM matrixes developed by strategy theorists. Intuitive judgments are required in developing these matrixes. Various endogenous variables (ENDoV) and exogenous variables (EXoV) are identified. The variables are then assigned a weight ranging from 0.0 to 1.0 and a rating from 1 to 4. The sum of all weights must equal 1.0. The ratings are company-based and the weights are industry-based.

Competitive Analysis Matrix (CAM) may be drawn to analyze rival univer- sities. Couples of critical factors are chosen from among the endogenous and exoge- nous variables that include tuition fees, quality of faculty and staff, quality of educa- tion, quality of students, graduate programs, academic reputation, resources facili- ties, average class size, extra-curricular activities, campus landscaping, campus location, campus culture, and so on. Each factor is assigned a weight ranging from 0.0 to 1.0 and a rating from 1 to 4. Rating 1 refers to major weakness, 2 indicate minor

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weakness, 3 means minor strength and 4 demonstrates major strength. By multiply- ing the weights and ratings weighted scores are obtained to identify competitor universities. The larger the weighted score, the stronger is the university.

Table 1 provides the competitive position of North South University, BRAC University, and based on CAM analysis. Here, North South University occupies the strongest competitive position obtaining a weighted score of 3.42, whereas East West University holds the second position with 2.72 and BRAC is in the weakest position with 2.64.

Table 1: The Competitive Analysis Matrix (CAM) of North South University, BRAC University and East West University

Source: Rates and weights are determined based on analyzing data and information collected from the brochure, leaflet and other information sheets of NSU, BRAC and EWU.

For a clear understanding of internal situation ENDoV matrix is employed.

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This process identifies the strengths and weaknesses of different functions of a university that includes extracurricular programs, placement services, career coun- seling, housing, fund raising, academic research, intramural programs, exam, accounts, and audit activities and the like. ENDoV matrix is developed by identify- ing at least 10 strong variables and 10 weak variables. Each variable is weighted between 0.0 to 1.0 in which the sum of all weights must equal 1.0. Again each variable is rated ranging from 1 to 4 in which 1 represents a major weakness, 2 indicates a minor weakness, 3 refers to a minor strengths and 4 implies a major strength. It is to be noted here that strengths must receive a 3 or 4 rating and weak- nesses must receive a 1 or 2 rating. A weighted score is achieved by multiplying each variable’s weight and rating. Total weighted score can range from a low of 1.0 to a high of 4.0 with an average of 2.5. Sum or total weighted score characterizes the competitive positions of universities which are shown in Table 2 and table 3 by ENDoV matrixes.

Table 2: ENDoV Matrix, AUB

SL Key internal factors Weight Rating Weighted score

Strengths

01 Low tuition fees 0.09 4 0.36

02 Permanent campus 0.10 4 0.40 03 Class size 0.05 3 0.15 04 Extracurricular activities 0.03 3 0.09 05 Exam controller office 0.02 3 0.06 06 Career counseling 0.01 3 0.03 07 Good result 0.06 3 0.18 08 Qualified faculty 0.07 4 0.28 09 Library Facilities 0.04 4 0.16 10 Research facilities 0.03 4 0.12 Weaknesses 01 Ineffective management 0.08 1 0.08 02 Irregular convocation program 0.09 1 0.09 03 Organizational internal politics 0.07 1 0.07 04 Absence of required permanent faculty 0.04 2 0.08 05 Unqualified lower level employees 0.02 2 0.04 06 Poor placement services o.04 2 0.08 07 Poor technological facilities 0.02 2 0.04 08 Lower CGPA of students 0.05 2 0.10 09 Student politics and Campus violence 0.04 1 0.04 10 Shortage of academic program 0.05 1 0.05 Total 1.00 2.50

Source: Rates and weights are determined based on analyzing data and information collected from brochure, leaflet and other information sheets of AUB.

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Table 3: ENDoV Matrix, PUB

SL Key internal factors Weight Rating Weighted score

Strengths

01 Low tuition fees 0.09 4 0.36

02 Permanent campus 0.10 4 0.40 03 Class size 0.05 3 0.15 04 Extracurricular activities 0.03 3 0.09 05 Exam controller office 0.02 3 0.06 06 Career counseling 0.01 3 0.03 07 Good result 0.06 3 0.18 08 Qualified faculty 0.07 4 0.28 09 Library facilities 0.04 4 0.16 10 Research facilities 0.03 4 0.12 Weaknesses 01 Ineffective management 0.08 1 0.08 02 Irregular convocation program 0.09 1 0.09 03 Organizational internal politics 0.07 1 0.07 04 Absence of required permanent faculty 0.04 2 0.08 05 Unqualified lower level employees 0.02 2 0.04 06 Poor placement services o.04 2 0.08 07 Poor technological facilities 0.02 2 0.04 08 Lower CGPA of students 0.05 2 0.10 09 Student politics and campus violence 0.04 1 0.04 10 Shortage of academic program 0.05 1 0.05 Total 1.00 2.50

Source: Rates and weights are determined based on analyzing data and information collected from brochure, leaflet and other information sheets of PUB.

The ENDoV matrixes shown in table 2 and table 3 explain the internal situa- tions of Asian University of Bangladesh and Peoples’ University of Bangladesh. These two universities are neither strong internally nor weak, they have potentials to strengthen their internal positions.

For analyzing the external situation of a university an EXoV matrix is employed. Like the CAM matrix the key external variables are first identified and each variable is assigned a weight and rating in which 1 refers to poor response, 2 represents average response, 3 indicates above average response, and 4 means supe- rior response. The larger the weighted score the stronger is the university’s response to external threats and opportunities. A total weighted score of 4.0 means the stron- gest response while 1.0 indicates weakest response and 2.5 implies average response. Table 4 portrays the EXoV matrix to analyze the external situation of (BDU).

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Table 4: EXoV Matrix, Bangladesh University(BDU)

Exogenous variables

Opportunities Weight Rating Weighted Score 1.Rate of getting job of BDU graduates .04 3 0.12 2.Reputation of BDU .03 1 .03 3. Increasing passing rate in intermediate level .10 4 .40

4. Increasing foreign students in Bangladesh .03 2 .06 5. Available programs for job holder .02 3 .06 6. Permanent campus location in main city .05 4 0.20 7. Relationship between foreign universities .04 2 0.08 8.Huge graduates from BDU across home & abroad .03 2 0.06 9.Higher tuition fees of other competitions .07 4 0.28 10.Scholarship programs .02 1 0.02 Threats 1. Anti BDU paragraph by others .07 3 0.21 2. Govt. regulations .05 2 0.10 3.Huge number of competitions .03 3 0.09 4. Marginal level population .02 2 0.04 5.Business programs of National University .07 1 0.07 6. Lower education rate .10 2 0.20 7. Teachers inefficiency .05 3 0.15 8. Demography .05 1 0.05 9.Political unrest at lower level .08 1 0.08 10.Technological inefficiency .05 2 0.10 1.00 2.40

Source: Rates and weights are determined based on analyzing data and information collected from brochure, leaflet and other information sheets of BDU

The EXoV matrix of Table 4 shows the weighted score of 2.40 for BDU which means that BDU responses in a weak way to external opportunities and threats. This means BDU’s competitive strategies are not capitalizing effectively on its opportunities or are not avoiding strongly its external threats.

APPLYING S2IU MODEL: MINIMAX STRATEGY

The term ‘minimax strategy’ sometimes referred to as MinMax or MM is used in decision theory, game theory, psychology, philosophy, statistics, business, finance, and economics. It was originally formulated for two-player zero-sum game theory which covers both the cases where players take alternate moves and those where they make simultaneous moves. The strategy has also been extended to more complex games and to general decision-making in case of uncertainty. Psychology

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dictionary defines it as the strategy to minimize the loss.

Wikipedia explains the minimax strategy as a decision rule which maximiz- es the possible loss for a worst case scenario of maximum loss and sets ‘maximin strategy’ as its antonym which maximizes the minimum gain in a situation of dealing with gains. The people of business and finance employ it as a decision making principle when they confront two various and conflicting strategies in order to minimize the maximum losses. Such strategy results in the least amount of regret if the strategy fails.

The S2IU model puts forward the minimax strategy suggesting that a university, in order to gain competitiveness, must achieve distinctive competencies by transforming the endogenous weaknesses into strengths and exogenous threats into opportunities. The minimax strategy to be adopted here is demonstrated in diagram 6 drawn below.

Diagram 6: Minimax Strategy

Threats

Weaknesses Strengths

Opportuni�es

Source: Drawn by author

The minimax strategy provides the path towards balancing between the positive and negative forces generating from both endogenous and exogenous variables. David argues that competitive advantage does not depend merely on whether an organization stands inwardly strong or responds strongly to outward threats and opportunities. In fact effective integration and understanding of both endogenous and exogenous factors is the determinant of competitive advantage. The minimax strategy allows a manager the tools and technique of matching key exogenous opportunities and threats with key endogenous strengths and weakness- es. Competitiveness is thus achieved by minimizing exogenous threats and endoge

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nous weaknesses and maximizing exogenous opportunities and endogenous strengths.

FINDINGS AND RECOMMENDATIONS

The present work seems to have observed that most private universities of Bangladesh either follow top-down approach or bottom-up strategy to operate their academic activities. Such findings allow these universities to either exercise limitless power or exist with the curse of backwardness. By reviewing criticisms on private universities, it is found that lack of vision, scarcity of resources, unavailability of suitable academic environment, excessive profit earning motive, non-compliance of government regulations retards their quality achieving paths.

In view of these findings the present work puts forward a bunch of recom- mendations.

The private universities need to follow the standard rules and regulations set by the ministry of education and university Grants Commission. In order to fulfill the criteria of eligibility for being viable service providing industries, our private universities should gear up their Continuous Improvement Program (CIP) through reviewing universally acclaimed management tools and theories such as Total Quality Management (TQM), Quality Circle (QC), Contingency Theories of Leadership, PESTEL Analysis and so forth.

IN LIEU OF CONCLUSION

The S2IU model devised as the appropriate strategic management mecha- nism for the developing countries tends to seek a middle path between the twin-ex- tremes of the top-down and bottom-up approaches. It purports to put a fair check on the unbridled power-exercise of the top-down model and exerts control on the down-trodden awkwardness of an organization’s falling prey to the bottom-up paradigm. The proposed non-Western strategic theory thus provides a space of nurturing loose autonomy with high levels of accountability, transparency and vibrancy. The S2IU model allows for all types of strategist(s) a level-playing field in which none can harm the organization through organizational politics that, on many occasions, creates bureaucratic tug of wars. The minimax strategy furnished in the preceding section must minimize the inconveniences of unbridled decentral- ization and maximize the fruits of benign centralization.

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Endnotes

1. Fred R.David, Strategic Management: Concepts and Ideas: A Competitive Advantage Approach, Pearson Education Inc., New Jersey, 2013, pp. 15-16 2. Ibid, p. 8 3. Arthur A. Thompson, Jr., A.K. Strickland III and John E. Gamble, Crafting and Executing Strategy Strategy: The Quest for Competitive Advantage: Concepts and Cases, McGraw-Hill/Irwin, New York, 2014, P.24 4. Fred David, op.cit., p. 14 5. ibid. 6. Heinz Weihrich and Harold Koontz, Management: A Global Perspective, McGraw-Hill, Inc., New York, 2004-2005, p. 171. 7. Heinz Weihrich, “The TOWS Matrix: A Tool for Situational Analysis”, Long-Range Planning, vol. 15, no. 2, 1982, pp. 54-66 8. Heinz Weihrich and Harold Koontz, op.cit, pp. 191-2. 9. Online available at https://en.wikipedia.org/wiki/Minimax, July 23, 2018 10. Online available at https://psychologydictionary.org/minimax-strategy/, July 22, 2018 11. Online available at “ https://en.wikipedia.org/wiki/Minimax”, op.cit Online available at http://www.businessdictionary.com/definition/mini- max-principle.html, July 21, 2018 12. David, op.cit., p. 65

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