Contents

• Introduction 2
• Elements of Capacity Planning 3
• Forecasting 3
• Demand Analysis 4
• Market research 5
• Cost Management 7
• Conclusion 8
• References 9

Description

Similar to other fields such as industry, law, business and politics, etc the field of education has also rapidly evolved in the last 50 years. In fact the field of education has been closely affected by these fields. It has also diversified from government run and managed institutions to non-profit, for profit and public institutions. Its interaction with industry has grown considerably and is now much more sensitive and susceptible to the changes in the real world which was not the case earlier when only the classroom mattered. With the evolution of the field of management and the introduction of the finer aspects of the principles of management thanks to the works of researchers such as James Reason and HW Heinrich, a direct impact was felt on the field of education. Since educational institutions were now being increasingly managed by the private institutions, monetary resources were carefully examined and cautiously spent. Thus they adopted the principles of management for the setting up of institutions and the principles of marketing for their expansions and mergers. Both these principles are required for strategic decisions such as expanding the infrastructure and services offered by educational institutions. Government institutions also started to realize the benefits of adopting such tested models, thereby increasing the competition in the educational field as well. Therefore this report deals with the management principles applicable to the educational field based on which strategic decisions can be based. Such a study gains more significance for private institutions that have strategic plans of expansion as their resources are limited and risks are greater when compared to governmental and established private institutions (Heizer, 2008).