He looks both at the "popularity"/irrational reasons, as well as the rational motivation and thirdly takes into account the external influence (of friends, parents) when choosing the specialization.
The specializations analysed are: Banking, Finance, Accounting, Applied Informatics, Trade, International Relations, Management, Marketing, Tourism, Environmental Economics, Economics and Statistics.
The results show three clusters:
1) Rational group - chose banking, finance, accounting or applied informatics. For this group the relevant selection criteria are: salary, high market demand. They also have the highest economic performance.
2) The second group consists of five specializations: marketing, management, international relations, trade and tourism and services. This cluster differentiates itself through its high scores on the emotional dimension, (i.e. high levels of perceived communication and creativity) having a perceived moderate orientation towards pragmatism and rationality (i.e. more talk less work).
3) The third group includes: statistics, environmental economics, and economics. This group is interested in getting a diploma no matter the specialization or the employment opportunities, nor the personal interests for a specific topic. They have the lowest academic performance.
The conclusion is that:
- banking and finance and marketing - management specializations are too close to each other positioned.
So what?
This leads to a loss of students in all four specializations. This study helps university managers to reposition to find out how the specializations are looked at. Furthermore, it also helps them find a strategic position that is free.
The below chart helps you better understand the situation.
I consider this study a good pilot project for other Romanian universities that are interested in attracting the best students and in positioning themselves differently than their competitors and thus raising higher revenues and improving their profitability.
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