**3.3 According to above vision and mission**

IPIEF attempts to integrate between value-based and pragmatic based concerning approach to internationalization through developing SWOT analyses, followed by some proper strategies, as follows (**Table 4**).

### **3.4 Programs for internationalization**

Given that the vision towards 2025 must be catched up, IPIEF arranges five strategic pillars which consist of Academic, Internationalization and partnership, Student and Al Islam Kemuhammadiyahan (AIK), Human Resource and Alumni, and Finance sectors (**Figure 7**).

The pillars are then specifically elaborated into various programs as shown in **Table 5**, as follows:

### **3.5 Steps forward**

According to previous discussion, IPIEF has been attempting to locate its self as an reputable international program by referring to roadmap set by university. However, to further strengthen its position and smoothly run towards global competence program, IPIEF proposes the masterplan which emphasizes the ideas of standardizing its input, process, and output. In turn, the standardized flows would result a such quality and more globalized impacts in the society at large. According to **Figure 8**, the steps forwards must be priorized on:



*Development Strategies towards a Reputable International Program: Special Focus… DOI: http://dx.doi.org/10.5772/intechopen.94322*


**Table 5.** *IPIEF program 2017–2025.*

**Figure 8.**

*A masterplan for internationalization. Source: Author.*

Therefore, by promoting the three items, the internationalization of university will be smoothly done and always move forwards aligning with university's map, namely excellence and Islamic.

### **4. Conclusion and Recommendation**

The spirit of internationalization is inevitable as a response of globalization. The higher learning institution must response by gradually set some strategies and policy actions which finally promote the spirit of sharing and leaving the impacts. Universitas Muhammadiyah Yogyakarta, as a committed university in promoting internationalization, has been attempting to set a long term map which was initiated by locking its position as an International Reputable University by 2020. For sure, this spirit must be supported by all units, including International program for Islamic Economics and Finance (IPIEF), which is under Department of Economics, faculty of economics and business. In practices, IPIEF has been implementing continous that in line with university's vision. Referring to the vision, IPIEF has transformed its self by addressing the program into 5 specific pillars, namely academic, internationalization and partnership, human resource and alumni, finance, and student and AIK. Technically, IPIEF arranges some targets and is monitored every years in consonant with internationalization agenda. However, IPIEF proposes a masterplan for further paving the way the long journey of internationalization agenda in university. The masterplan encompasses the ideas of standardization of three aspects, namely input, process, and output, whereby these three are practically interconnected each other and flow under a stated vision and missions. Finally, internationalization is a must and university has pursued it by actively promoting the role of international program, such as IPIEF. Finally, IPIEF has strong commitment to move forward towards a reputable international program on economics, banking and finance in ASEAN by 2025 by putting impact and values together as the core in pursuing internationalization agenda.

#### **Acknowledgements**

The author expresses special thanks to Rector, Vices Rector, Dean of Faculty of Economics and Business, Head of International Office, Head Department of Economics, and all lecturers and students at International Program for Islamic Economics and Finance (IPIEF).

*Development Strategies towards a Reputable International Program: Special Focus… DOI: http://dx.doi.org/10.5772/intechopen.94322*
