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Universities through the Looking Glass Measuring success in the new economics of higher education

Universities through the Looking Glass Measuring success in the new economics of higher education. HESA Benchmarking seminar 1 st March 2011. Past conditions for success will not be the same in the future. Universities need to develop new, capability-based business models.

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Universities through the Looking Glass Measuring success in the new economics of higher education

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  1. Universities through the Looking GlassMeasuring success in the new economics of higher education HESA Benchmarking seminar 1st March 2011

  2. Past conditions for success will not be the same in the future

  3. Universities need to develop new, capability-based business models The current funding-led business model is geared to sustaining a fixed cost base, and depends on continually rising revenues – this is not sustainable A capability-based business model would be self-sustaining and inherently adaptive to changing market opportunities

  4. In this world, success will be measured by results, not inputs STRATEGIC OBJECTIVES CRITICAL CAPABILITIES SUCCESS MEASURES Protect core teaching income (UG and PGT/R) • attractive learning/study experiences • strong employer relationships • excellent student services • demand vs. places • fee revenue/student • high employability ratings Extend domestic education earnings • employer and professional body links • agile programme design • marketing and channel mgt. • part-time and work-based offers • CPD and short course numbers • e-learning and flexible channels Grow international earnings ( in UK and offshore) • effective brand management • productive overseas partnerships • excellent student service • positive brand associations • strong in-country relationships • reputation for student success Maintain research and development profile • targeted research priorities • leverage of research strengths • managed R&D relationships • top-end research capacity • research earnings per academic • private research income Develop new services and business opportunities • business account management • external relationships (HE & business) • enterprise mgt. systems/skills • earnings from knowledge services • income from new services • collaborative partnerships • flexible and productive staffing • innovative delivery models • year-round operations • net costs/margins from T and R • output per academic (T, R and KX) • value from service operations Improve operating efficiency and margins

  5. What does all this mean for benchmarking? • Benchmarks that were important in a funding-led world will not necessarily be valuable in a capability-based world • We are currently in an uncertain no-man’s land, equipped only with data from the old world but without a benchmarking framework for the new world • If universities compete on differentiation, who will they compare themselves with? • In a world of diversified and differentiated choices, how will stakeholders judge the relative performance and success of institutions?

  6. A quick look shows the diversity of the sector

  7. League tables represent the worst of benchmarking… • No single version of success … • What about part-time, on-line, and post-experience students, work-based learning, international students?

  8. Benchmarking will become more important for…. The student ‘deal’ Where price becomes a complex calculation of ‘sticker price’ minus bursaries, discounts and awards, calculated in terms of repayment amounts and periods .. Pricing … and value considers contact time, learning modes, placements, skills-training, extras, timetabling and course dates … Contact hours and other inputs … plus greatly increased interest in data around outcomes. What % get employment? When? With which types of organisation? On what salary? What happens to them over 5 years? Outcomes Is there an RoI metric for students which combines prices and outcomes?

  9. Benchmarking will become more important for…. Assessing market opportunities Bus Law Growing Maths Media Market size Eng Shrinking Geog Shrinking Growing Market share

  10. Benchmarking will become more important for…. Assessing portfolios Invest for profit / cross subsidise Grow /sustain Quality Close? Invest for quality/ cross subsidy Profitability

  11. …and will be used in different ways • A strategic process and not as an end in its own right • Increasingly part of business as usual decision-making • Based on sources from outside the sector as well as inside • Using more recent data • Internal benchmarking across departments and faculties • Benchmarks woven in to KPIs and strategic performance assessment

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