Higher Education Business Models Under Stress

Multiple scholars and practitioners provide models and theories to understand the inter-organizational relationships between businesses and higher education. This work illuminates the complexities, expectations and long-term impact of such relationships.

In an era of sound bites, Smart Leadership for Higher Education in Difficult Times provides an outstanding analysis of the context in which today s colleges and universities operate. The essays are thought provoking, insightful and valuable for preparing our institutions for an uncertain future. Through case studies and personal experience, contributors challenge readers to reflect on our own institutions and re-imagine higher education. Graham B. Spanier, The Pennsylvania State University, US Smart Leadership for Higher Education in Difficult Times makes the case that bridging the time from recession to recovery with typical belt-tightening tactics, without a strategy for fundamental change in the higher education business model, is a formula for failure. Globalization, changing demographics, evolving technology and jobs of the future are only beginning to impact the business of higher education. These trends, combined with the lingering effects of constrained revenue, are the building blocks of a new business environment. Reading this book will jump-start your thinking about how innovation, reorganization, prioritization and strategic investing are necessary for institutional success. John Walda, National Association of College and University Business Officers, US In response to falling state support, limited returns from endowments and increasing costs, colleges and universities have turned to examinations of the mission of higher education and new ways in which its missions can be achieved. Two of the many provocative insights described in this series of papers concern the permanent nature of change in the economic, demographic and competitive environment, and the need for more creativity and innovation. Risa Palm, Georgia State University, US Smart Leadership for Higher Education in Difficult Times offers positive ideas and encouragement from some of the leading thinkers and doers in higher education about how to lead proactively in response to the sobering challenges now facing colleges and universities economic stagnation; the completion imperative; rapid demographic changes; global competition; the stunning pace of technological change; and the tensions among affordability and the stubborn growth in college unit costs. William Zumeta, University of Washington and Association for the Study of Higher Education, US As the US economy emerges from the severest recession in a generation, large questions regarding its long-term ramifications for higher education remain unanswered. In fact, the harshest effects of the economic downturn are likely ahead as campus leadership focuses on enrollment, affordability and fundraising. This volume of essays examines the challenges and opportunities for advancing higher education s core missions of education, research and service in a resource-constrained environment. Many parties will wish to return to the old normal, but fulfilling the mission of higher education will require implementing change in the face of opposition, gaining support from key stakeholders, and maintaining morale in the process. The new normal entails innovating to meet the needs for higher education among a growing population of potential students from disadvantaged socioeconomic backgrounds, many of whom are ill-prepared for a college education and unaware of how to access it, and a population of mid-career students seeking to retool or reinvent themselves for the labor market. The economic success of both individuals and the US economy are directly dependent upon increasing the share of the population receiving a higher education. Chapter authors include college and university presidents and chancellors, and other senior administrators and thought leaders from the higher education community. They provide new and actionable information to enhance decision-making and inform strategic planning as well as a contemporary examination of the business of higher education and areas of potential new research.

The new edition of Business Practices in Higher Education helps readers understand the true nature of higher education and appreciate how the academy effectively incorporates business practices into everyday work lives. The authors apply business concepts and models and explain how they can be leveraged to improve the overall efficiency and effectiveness of higher education institutions. Useful examples from a wide range of institutions—including small private college, large public universities, and community colleges—address macro-level higher education and student population issues, while also addressing micro-level issues for individual institutions or students. Business practices are critical to the academic, student affairs, and administrative sides of higher education. This book offers aspiring higher education and student affairs professionals an understanding of the fundamental business practices of colleges and universities. New in this edition: Updated coverage of current practice and research New chapters on accounting, strategic planning, and fundraising End-of-chapter questions for discussion

At a time of great economic uncertainty, The Business of Higher Education looks at the pros and cons of colleges and universities taking a more business-like approach to fulfilling their missions. How can colleges and universities navigate their way between shrinking commitments and the increasing expectations of their students? Does the answer lie in taking a more business-like approach? This extraordinary resource considers the costs and benefits to both public and private institutions and to society when academe embraces business models for improving cost-efficiency, marketing, hiring practices, and customer service. Bringing together a diverse team of contributors from the academic and business worlds, The Business of Higher Education offers 35 essays in three volumes. The first volume explores issues of leadership and culture, the second focuses on management and fiscal strategies, and the third volume takes up issues of marketing and consumer interests. Throughout, the work balances the contrasting perspectives of those within the academy and those outside of it, as it considers whether higher education and the public interest are ultimately helped or harmed by the application of business methods to essential academic functions.

Business Practices in Higher Education is a breakthrough guide offering higher education and student affairs professionals an understanding of the fundamental business nature of colleges and universities. The author discusses the practical applications of business concepts and models and how these applications can contribute to the overall efficiency and effectiveness of higher education institutions. Useful examples from a wide range of institutions—including small privates, large publics, and community colleges—illustrate these concepts. This professional guide is organized into the following four sections: Environment and Structure Finance and Funding People and Processes Perspectives on the Future Business practices pervade the academic, student affairs, and administrative sides of higher education. This book affords readers a greater understanding of the true nature of higher education and an appreciation for how the academy effectively incorporates business practices into everyday work lives.

The future of higher education depends on how managers respond to the challenge of rising costs, changing labour markets and new technologies. More people will follow some form of education programme in the next couple of decades than did previously in all of human history. Most of the capacity to accommodate this demand will be created in the global online environment. The shift in what is currently ‘valued’ in higher education (towards a knowledge-based economy) is driving the need for new business models. As the pace of change accelerates, education providers need to redefine their strategy for sustainable success. This volume presents the thinking of leading higher education researchers and academics from IDRAC Business School and partner universities regarding the new stakeholders in higher education systems and structures, and the kinds of business models which are needed in order to offer a sustainable value proposition. The articles gathered together here provide an insight into changes taking place in higher education institutions (HEIs) and the responses to such change. They underscore the belief that pervasive technology and ubiquitous Internet access have transformed higher education, putting pressure on HEIs to review their traditional approach in order to deliver anywhere, any ware, and any time. HEIs have a critical role to play in society; the onus is on managers to integrate a philosophy of employability, to support small and medium-sized enterprises to be smarter, and to be more innovative as communities of learning. Both the popular press and academics have initiated debate around the changes taking place and the effectiveness of current business models in higher education. The weaknesses of the current system have been exposed and discussed at length; the general consensus is that a rupture with the past is needed. Now is the time for systemic change and development to prepare learners for the uncharted and uncertain world ahead.