Higher Education Business Model Changes
Here’s yet another of a long stream of interesting articles that leave little doubt the world is changing for traditional higher education. It will change the competitive landscape, the way courses are offered, how revenue streams are maintained, what it means to be an administrator (fundraiser, admissions officer, student services professional–president). It will change the way theycompete for everything they need to achieve their mission. Our experience is that most institutions–and their sub-entities–business schools, engineering colleges, etc., are increasingly trying to understand “how things will work” for them in this emerging (more rapidly than everyone thinks) new world, how they will compete and thrive in the next 10 – 20 years ahead. What their “business models” must be. Our work, increasingly, feels a bit like being a”futurist,” figuring out how institutions can “intercept the future” in the way they develop the institution across what we call the “Five Dimensions of Competition.” It’s a challenging and exciting time in higher education and we are optimistic that many institutions will find new paths forward through careful analysis and new perspectives that will help them become even better at serving the needs of their stakeholders.