Suitability-Acceptability-Feasibility Assessment and Product/Market Evaluation of Strategic Business Options for Managing Higher Education in Nigeria

Abstract

In the management of higher education in Nigeria, strategic assessment is vital to the long-term growth of universities as organizations of higher education. It is therefore necessary for universities as business entities to identify and evaluate strategic options for their future growth and diversification of their business portfolio. For this study, the SAF (Suitability, Acceptability, and Feasibility) criteria were used to evaluate two options for the strategic management of higher education, using the case of Rivers State University (RSU). This was in view of RSU’s strategic position, whereby several short- and long-term growth opportunities present themselves for further consideration. The identification of options was based on a TOWS matrix, a derivative from a SWOT analysis, which arranged several strategic options. The TOWS matrix combined external and internal factors in turn to generate two potential options that capitalize on strengths to exploit opportunities, minimize vulnerability to threats s in the external environment, and minimize internal weaknesses to avoid threats and take advantage of opportunities. Option 1 was to expand the available academic programs into the distance learning market, while Option 2 was to consolidate and expand the market share of postgraduate programs via the economics of scope. The selection of a final option was further underpinned by the application of Ansoff’s product/market matrix, which prioritized option 1 based on market benefits. Beyond market benefits, the selection of option 1 was informed by its secondary effect on boosting other elements of the portfolio and functions of the university, including option 2. From the perspective of Porter’s generic competitive strategies, for option 1, RSU can potentially achieve cost leadership and acquire a sizable share of Nigeria’s higher education online market, which is currently in more active demand. Online market expansion fills a major strategic gap/blue ocean unfolding in Nigeria’s public higher education sector.