Market Analysis Outline for QCTO Accreditation
The deadline for QCTO accreditation is 2020. Here’s how to set your sights on a sustainable vision. Take these steps to build your business and accreditation strategy.
From People to Profit
If you are planning to become QCTO accredited, you must understand the legislative environment in order to be compliant, the economic features of your industry in order to understand scarce skills, and the competitive business context.
In the business context, education and training adds value to processes and drives leadership and innovation.
Market Reform and the QCTO
When a new regulatory and industry organising body emerges it can create a viable opportunity for astute businesses moving strategically. This opportunity can exist even if the structure ends up being doomed. However, there are certain key factors you should establish before diving into it.
For example, when you select a new qualification, ensure you are able to recruit a facilitator ready to deliver on it and that you have training content available.
The changes in the ETD landscape are occurring to improve market efficiency and let’s hope that there’s renewed focus on education and economic inclusion.
QCTO Strategy for Business
Once you’ve identified the qualifications you want to be accredited for, assess your market competition:
- Who offers the qualification?
- Do they operate at the same scale as you? (are they bigger, smaller etc)
- Will you compete for the same, similar or different target markets?
- How can you compete?
- What can you do differently and more cost effectively?
- Why should the market trust you more than similar priced but more experienced facilities?
Probably the most effective place to begin the decision-making process is to build a thorough understanding through research.Two key components inform a powerful strategy:
- About the competitive environment
- About the market
- Current relevance and future shifts
If you don’t have a vision driving your organisation’s functions and strategic decisions, you won’t understand how to enhance your competitive edge for market leverage.
Check your Value Chain
Ensure that you have selected a qualification where learners can be assessed. Download AQPs – with registered qualifications to see the QCTO list.
Look for any documentation that can unpack if the full value chain to deliver training that can be assessed, credited and certified exists.
Note which qualifications Assessment Quality Partners are ready for.
Most information is flawed, don’t make major decisions based on the limited information available to a desktop survey. Meet with the relevant SETA and the QCTO to establish current facts about the status of qualifications.
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