While higher education as a whole may not represent a financial bubble in the short term—as there are still important tailwinds behind the industry—in the long term, there are significant red flags to which all institutional leaders, not just those immediately at risk, must respond. Yet, higher-ed leaders remain dangerously unresponsive to these challenges and continue to rely on an old playbook of policies and practices, making merely incremental changes—addressing administrative inefficiencies, outsourcing, eliminating low enrollment programs, postponing salary increases, tuition increases—while waiting for external factors to improve.
Yesterday’s answer has nothing to do with today’s problem.”
“What evidence do we have that these factors will improve? Why are we waiting? Waiting is not bold leadership.”
Higher ed will always be consumed in the same way.
- Pat Sanaghan The Sanaghan Group
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Academic Impressions | Diagnostic June 2013
- Bill Gates Founder, Microsoft
Let’s review four assumptions, rooted in past practices and experiences, that no longer hold true and that often hold leaders back from taking a new and different approach: Demand for inelastic.
higher
education
is
New sources of revenue will always be available.
The public’s faith is unwavering.