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Understanding the Vocational Education and Training (VET) Market Dynamics

This overview explores the Vocational Education and Training (VET) market, examining the industry forces influencing it. Key aspects include the rivalry among existing competitors such as universities and schools, the threat of new entrants, and the bargaining power of customers and suppliers. It highlights the factors causing some students to opt against VET, the impact of work-based training and e-learning alternatives, and the government's role in shaping the market towards a more competitive landscape. An essential resource for stakeholders in the education and training sector.

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Understanding the Vocational Education and Training (VET) Market Dynamics

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  1. The VET Market Jim Davidson Department of Education, Employment, and Workplace Relations

  2. Overview of VET market The Industry

  3. Forces Governing the Market The Industry Rivalry amongst existing competitors

  4. Other Providers • Universities • Schools Threat of new entrants The Industry Rivalry amongst existing competitors

  5. Threat of new entrants The Industry Bargaining power of customers Rivalry amongst existing competitors • Students have more information • Why do some students not choose VET? • Student contribution

  6. Threat of new entrants The Industry Bargaining power of customers Rivalry amongst existing competitors Threat of substitute products and services • Work-based training • Private accreditation • E - Learning

  7. Threat of new entrants The Industry Bargaining power of customers Bargaining power of suppliers Rivalry amongst existing competitors • Government purchasing arrangements • Increasingly market driven approach • The VET professional Threat of substitute products and services

  8. Threat of new entrants The Industry Bargaining power of customers Bargaining power of suppliers Rivalry amongst existing competitors Threat of substitute products and services

  9. Thank you

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