Can colleges better leverage their brands, output for revenue?
- University of New Hampshire Director of Professional Development and Training Chris LaBelle writes for the Evolllution about the changing culture of the business of higher education, and how campuses can better adapt to industrial trends and consumer expectations.
- LaBelle offers Netflix as a corporate example of how schools can repurpose concepts of syndication, fee for service and à la carte credentialing and services to enhance the college learning and training experience.
- He says that schools must focus upon the students of the future in order to best develop practices and services that will engage today's student consumer base.
The future of higher education appears to be very linear in nature; large and elite colleges and universities will prepare wealthy students for careers in executive leadership, business and governance, while smaller institutions will develop their employees. There may be some deviations from this formula, but largely, this is where public funding and the nature of the industry is driving institutional profiles and outcomes.
For college presidents, the ideal approach is to determine alternative methods of funding and revenue, so that these campuses can survive as educational outliers beyond what public support and federal funding may dictate. There will always be a need for liberal arts training and the small college mission; but these schools will be on their own for funding and making the case for their brand of education.