Crowd Sourced Ideas from Major US Exec in Business and IVY League Universities


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Crowd Sourced Ideas from Major US Exec in Business and IVY League Universities

  1. 1. VTC and its challenges New President’s Objectives • Return VTC to a self-sustaining financial state • Improve the image of the institution….. high quality education, affordable experience and an active “good local citizen” in the local community • Retire the loan Major Issues facing VTC • Macro-issues: - 50% of those who enter the US educational system don’t get a BA degree. Only Italy is worse. - 1/3 of educators say the Education is headed in the wrong direction. • Vermont State Colleges (VSC) – common system-wide confronting challenges: • Declining enrollment/tuition combined with expanding overhead - Double digit enrollment declines - Enrollment is too low at all VSC’s to support its massive infrastructure. Average enrollment in a VSC school is 1700 FTE’s approx. - The lack of state funding- realistically won’t change - There is a reluctance to change. The education model is 200 years old and ripe with tradition but it needs to come current. It’s about what students want not what faculty wants to teach. Think about this:
  2. 2. § Kodak had the 1st digital camera but the Film division killed it § DEC- had an early advantage in the PE space but did not act on it….Compaq bought them. § IBM had the 1st micro process and could see the use for it….INTEL did Where are these Companies now? • There is a lack of an apparent marketing strategy defining VTC (and all VSC) to the regional and national marketplace • There is a lack of professional prescence in the Image/Prestige- (eg..VTC-Williston looks like a strip mall looks but tuition is 22% more expensive than Johnson, Castleton and Lyndon • There is a lack of a clear value proposition. We don’t actively tell students what should compel them to want a unique Vermont State College Education. • VTC Specific items - Tuition costs aren’t competitive with other State Schools. They are 22% higher. - Cost/Image- VTC-Williston looks like a strip mall looks but tuition is 22% more expensive than Johnson, Caselton and Lyndon
  3. 3. - Lack of partnership/synergies between VTC and logical partners like CCV, the private sector and the local communities…. - Anticipated Union pushback and why? Suggested Elements of a Turnaround: 1. Stop the bleeding. 2. Focus. If it doesn’t engage the customer or lead to innovation, question it. 3. Formulate a plan with the organization. Find the thought leaders throughout the organization and engage them to build the plan and implement it. 4. Re-form a leadership team of disciples 5. Measure, analyze and adjust. Tentpoles to change at VSC and VTC: 1. VSC/VTC isn’t the Ivy League. Set modest expectations based on sustainable economic realities. - Specialize / Refine core functions. You can’t be everything to everybody. It is okay for some kids to go out of State. Establish one State University with Colleges of Academic Excellence. This
  4. 4. allows each College to specialize and attract the best available faculty to a Center of Excellence. It minimizes inter-system competition. Maybe… Suggested / Idea College -- Core Educational Focus § Castleton - Education, Humanities § Johnson - Wellness/Counseling…Communication and Media, Enviromental, Counseling § Lyndon - Sciences and Journalism / Meterorology § VTC - Technology, Applied Sciences, Networking Technologies - Share resources among colleges (Admin, Instructor and Facility). Accept the fact that you coped before the administrative bloat came along and current enrollment/endowments can’t support redundancy. - Kill marginal programs. Don’t let Colleges offer redundant majors. - Provide common VSC administration shared services to all schools - Reduce redundant teaching needs by sharing instructor /class space capacity among all schools for common liberal arts core courses - Share facilities - Seek community and private sector partnerships
  5. 5. 2. Rebuild/Communicate the Value Proposition. It’s about ‘what’s in it for the student’, not the faculty. Don't take your students for granted, and pay ever closer attention to the quality of the student experience. Focus on the basics: - VSC/VTC image to the customer/Market the system. Make VTC top of mind among students - Improve the quality of education/Fewer programs. More invested in a smaller portfolio of programs should lead to a focused, higher quality program. - Make the experience affordable. Eliminate the non- value added programs. 3. Blending learning experiences. We tend to think of “college” as one physical place that we attend one time in our life. Rather than a one-time experience, higher education (at VTC) should be a platform for lifelong learning, blending the experiences between work and school. Focus on teaching students how to learn for themselves. They need this skill within 10 years of graduation. 4. Hybrid courses. System has too much overhead and excess capacity. Leverage online education. Sharing facility and course availability among all locations. Give students more options to take classes partly face-to-face, partly online and at the campus of their choice taught by the best of the faculty in the system. 5. Flexible calendar. The typical college classroom is used only 40 percent of the time. Personalizing and unbundling
  6. 6. the college experience dismantles the academic calendar— students can start a course whenever they want and complete it at their own speed. 6. Degrees based increasingly on what we know. More colleges are making the shift from measuring learning based on how much time students spend in a classroom to a system that is based on how much they actually know. You don’t abandon academic excellence but round it out with real world knowledge. 7. Private sector partnership. Investors are lining up to cash in on the college of tomorrow. Venture capitalists poured some $429 million into education companies in 2011. That same year, in the midst of a worldwide economic slump, 124 education start-ups received financial backing, the most since 1999, during the height of the dot-com boom.