In his new book Professor Mark Farrell, Head, Graduate School of Business and Law, says the higher education sector is being transformed and that universities need to adopt a market-oriented approach.
The book, The Market Oriented University: Transforming Higher Education was co-authored with John A. Davis, Executive Director, Duke CE, Singapore and looks at how the next decade will be transformative for the higher education sector.
Some of the factors which will contribute to this transformation include:
- A decrease in government funding.
- Increased competition from private educational providers.
- Disruptive innovations which are challenging traditional forms of learning.
- The emergence of the ‘student consumer’ who is prepared to shop around and expects return on their investment.
The authors describe the challenges facing universities around the world as a ‘perfect storm’.
“While it is not expected that the higher education sector will collapse under these challenges, for some institutions the future does look bleak,” Farrell said.
Highlighting the difference between being market-oriented and marketing, the authors include various examples of institutions around the world that are making efforts to reposition themselves in a bid to stay relevant.
The book also examines how academic staff are becoming undervalued, arguing that education practices are in desperate need of being reimagined due to an increase in online courses and adaptive and experiential learning practices within universities.
Professor Farrell hopes the book will be a useful reference for university and academic leaders.
“We hope they find value in the instructional aspects as they relate to their involvement with institutional advancement agendas as well as providing insight into the changing nature of higher education and the evolving definition of what an academic career now entails,” he said.
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Story: Ainslie Logsdon