Pixel International Conferences

Colombia is an emerging market, with real potential for future growth, particularly in the region around Cali. One US business school has recognized this potential and taken the opportunity to internationalize its business programs in partnership with a Colombian school. This article recounts the evolution of the internationalization strategy which began with a new university policy, forcing the business school dean to critically evaluate the school’s portfolio of programs. Decisions  had to be made about which programs would be profitable, what were the best opportunities, and what should be terminated. Discussion is presented about what it means to be engaged internationally in terms of alignment of policies, bills being paid on time, student and alumni satisfaction, and partner relations. There is a trend in business schools to internationalize in order to increase profits and global reputation. Going global strategies require both diversification of school products and location. Higher educaton in emerging markets continutes to develop, and there is something to be said for first mover advantage. Unfortunately, this requires time, investment, and patience. Start-up costs are necessary, and US programs in overseas locations need time grow and develop.

Keywords: Cross cultural business relationships, Internationalization, Strategic alliances, Cross cultural marketing, Sustainable business models, Emerging markets.

References:

[1] Bureau of Educational and Cultural Affairs. (n.d.). About Fulbright. Retrieved from https://eca.state.gov/fulbright/about-fulbright.
[2] Education in Colombia. (2015, December 7). Retrieved from https://wenr.wes.org/2015/12/education-in-colombia.
[3] Interconnected with the world. (n.d.).
Retrieved from http://www.investincolombia.com.co/why-colombia.html#interconected-with-the-world.
[4] Strittmatter, C. L., Bharadwaj, P. N., & Camp, R. C. (2013). Success Factors in a Comprehensive International Partnership: Lessons Learned from a Case Study of an Indo-American Collaboration. Excellence in Higher Education, 4(1), 25-39.