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Trends and Emerging Market Opportunities in Continuing Education
 

Trends and Emerging Market Opportunities in Continuing Education

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This report aims to aggregate and build upon recent SCPS research in an effort to recognize the evolving CE environment and idetnify trends that can provide dynamic insight on issues and opportunities ...

This report aims to aggregate and build upon recent SCPS research in an effort to recognize the evolving CE environment and idetnify trends that can provide dynamic insight on issues and opportunities affecting SCPS today

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  • As this new business model takes hold, National Health Electronic Records initiative includes incentive payments to hospitals and physicians who computerize medical records –and provides new opportunities for CPE units for training. These include (click) Hospitals, who receive up to $2M to install HIT systems, And Physicians offices who receive up to $70,000 to install HIT (click) Both of these employer types, along with Community Health Agencies and health Care providers require new types of skills to support specialized Health IT environments, as well as training for support staff in its use in records management (click) In addition, IT and software providers will be required to provide support including security, networking, and technical support. With many CPE units building IT programs as well as healthcare programs, certificates and programs in health informatics may be in even greater demand as doctors and hospitals begin to implement national electronic health records.

Trends and Emerging Market Opportunities in Continuing Education Trends and Emerging Market Opportunities in Continuing Education Presentation Transcript

  • Trends and Emerging Market Opportunities Dorothy Durkin Associate Dean Office of Strategic Development and Marketing October 2009
  • In an Evolving CE Environment, Trend Analysis Provides Dynamic Insight on Issues and Opportunities Affecting SCPS Today
    • This report aims to aggregate and build upon recent SCPS research
    • Over the past year, SCPS has looked at:
      • Employment Trends in the New York City Region: Where the Jobs Are
      • Trends in Professional and Continuing Education
      • Baby Boomers – Motivations and Activities Related to Continuing Education in the Current Economic Climate
      • Identification of Revenue Opportunities in Executive Education, Graduate Education, and Summer and Winter Sessions for the Revenue Task Force
    What are the economic, social, and employment trends influencing opportunities to grow enrollments in existing programs or to launch new programs?
  • While the Federal Reserve has Declared a “Leveling Out” of Financial Problems, Conditions in NYC Continue to Get Worse
    • So far, NYC has suffered considerably less in this recession than the rest of the U.S.
      • Since employment levels peaked in August 2008, NYC has lost 110,000 jobs, or 2.9 percent; since peaking in December 2007, the U.S. has lost 6.46 million jobs, or 4.7 percent
    • However, as the recession slows nationally, unemployment continues to rise in NYC
      • Rose to 10.3 percent in August, up from 9.5 percent in July; higher than the national rate of 9.7 percent
    • The stimulus package has postponed and, in some ways, diminished the initial impact of the recession in NYC
      • Recent figures emphasize how the crisis has devastated the financial services industry which has driven growth in NYC for quite some time
    • The financial sector remains the driver for the local economy, impacting job growth in other sectors – credit remains tight, apartments are empty, and construction has plummeted
    • NYC is expected to lose a total of 250,000 jobs – about half have been lost so far
      • Job losses expected to continue through the middle of 2010
  • With Unemployment Accelerating at a Faster Rate for Those Without a Degree, the Value of Higher Education has Never Been Higher How is SCPS leveraging this data and emphasizing its value proposition in the positioning of new and existing programs?
  • Moving Forward, SCPS Should Continue to “Manage” the Economic Downturn by Creating Student Value Through Experimentation
  • By Offering Innovative Proposals for Prospects to Continue Learning, SCPS Can Embrace Today’s Challenges and Position Itself Well Among New and Existing Audiences
    • Retrain laid-off workers for roles in areas with current career opportunities
    • Prepare graduates for positions in emerging fields such as renewable/“green” energy and health information
    • Acknowledge social trends that may alter/expand the SCPS audience today
    • Engage prospects, current students, and alumni via social networking
  • Staples of the NYC Labor Market Have Taken Well-Publicized Hits Due to the Economy, Yet a Current Snapshot Reveals Growth and Opportunity in Specific Areas
    • Finance/banking
    • Media
    • Tourism
    • Real Estate
    • Specialized areas (e.g. web and java developers, project managers, consultants)
    • Accounting/financial control
    • CRM
    Certificate programs can be used to target professionals looking to develop skills in emerging, specialized areas.
  • In Addition, Mayor Bloomberg Has Underscored the City’s Strategic Investment in Certain Industries as Part of a “Diversification” Effort
      • Fashion
      • Healthcare
      • Bioscience
      • Construction
      • Green development
      • Information technology
      • Education
    • Areas covered by Bloomberg’s “Five Borough Economic Opportunity Plan” include:
    • The plan aims to create jobs through a variety of strategies, including:
      • Providing access to capital for new/existing businesses
      • Helping small businesses train workers
      • The establishment of new job placement facilities
      • Investment in infrastructure
      • Construction of new commercial/retail centers
      • The promotion of tax credit programs
    With Mayor Bloomberg’s agenda established, the question is not just what employment categories are growing, but which are relatively stable (i.e., declining least). Additionally, an important trend may be recognizing the opportunity to serve recent college graduates (e.g., with graduate programs or specialized certificates in in-demand fields) as they wait out a generationally poor economy.
  • The Monster Employment Index Is a Useful Source for Studying Real-Time Hiring Trends by Occupation
    • In recent months, the occupations with the greatest relative strength in NYC include:
      • Protective service: 173 (157 in March)
      • Community and social services: 118 (111 in March)
      • Healthcare practitioners and technical: 120 (109 in March)
      • Military specific: 106 (107 in March)
      • Installation, maintenance and repair: 104 (87 in March)
    • Only a few occupations have shown actual growth in job listings since December, according to the index (July index value vs. December index value) :
      • Community and social services (118 vs. 102)
      • Protective service (173 vs. 150)
      • Military specific (106 vs. 104)
    • Finally, it is important to note other occupations that have been declining but are fairly stable on a relative basis :
      • Education, training, and library (87 vs. 94)
      • Arts, design, entertainment, sports, and media (87 vs. 92)
      • Healthcare practitioners and technical (120 vs. 130)
    The index is a “broad and comprehensive monthly analysis of U.S. online job demand conducted by Monster Worldwide, Inc. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, including Monster, the Monster Employment Index presents a snapshot of employer online recruitment activity.” The base value for the index = 100 in 2005. E.g., an index value of 75 = a 25% decline since 2005.
  • However, While Certain Occupations and Industry Sectors Have Held Up Relatively Well, the Situation Bears Monitoring
    • As the job losses continue, tax revenues decline, and the contagion spreads across industry sectors, the following caveats apply to these occupations and industries:
      • Education is not necessarily sheltered. “When school began in September, as many as 100,000 of last year’s teachers did not have jobs, resulting in an overall drop in education jobs in the U.S.,” estimates the National Education Association on Aug. 11
      • The American Federation of Teachers notes that historically many teachers laid off during tough times quit the profession. New York City laid off 15,000 teachers during its fiscal crisis in the 1970s. It later recalled 10,000, but only 3,000 returned.
      • Similar tax revenue and government funding concerns apply to protective service, community and social services, and certain segments of healthcare .
        • The recession is now starting to hit jobs in healthcare – as reported in the Wall Street Journal on April 12th, citing the example of 400 recent and more pending layoffs at New York Health and Hospitals Corp., as the state cuts Medicaid payments.
    Source: Wall Street Journal “A Hard Lesson for Teachers,” Aug. 11, 2009 “Recession Now Hits Jobs in Health Care,” Apr. 12, 2009
  • With Career Changers at the Forefront of the Labor Market, SCPS Programs Can Serve to Ease Future Transitions
    • Leverage important and innovative changes in technology (e.g., specialized languages and platforms like Java, AJAX, and SQL; data analysis, web management, social networking, online marketing)
    • Help individuals transition their career experience or functional knowledge into new functions or industry sectors (e.g., interdisciplinary certificates)
      • E.g., financing and accounting for IT companies; selling and marketing to tourism and retail, and engineering intersecting with green/environmental and energy occupations
    • Prepare individuals for careers in high-growth occupational roles that cut across industries, such as:
      • Information technology, accounting, web development, business analysis and consulting, sales and marketing, CRM/customer service
  • Moving Forward, Job Creation Will Likely Stem From Areas Addressed by ARRA Stimulus Funding
    • New industries developed and expanded as a result of ARRA stimulus funding will require a wide range of skills for workers shifting to these industries
    • Among the industries receiving ARRA stimulus monies, two categories appear to provide a high degree of opportunity for new programs for SCPS
      • Environmental Sustainability, “Green Development”
      • Healthcare and Health Information Technology
    Existing SCPS programs in direct and related fields provide the foundation to grow programming in either of these areas.
  • Related to Energy Challenges, Environmental Sustainability Is Moving to the Forefront of the National Dialogue
    • The definition of sustainability that is most often quoted in industry web sites and journals is one that is over 20 years old. The Brundtland Report, presented in 1987 at the United Nations World Commission on Environment and Development, defined sustainability as:
      • “ Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”
    • This definition, while somewhat vague, is purposefully flexible and can suit many different angles of the sustainability crusade
    • Sustainability and “green collar” jobs are a significant part of President Obama’s stimulus package passed in February 2009
    • A growing number of consumers, businesses, officials, government organizations, and higher education institutions are addressing the issues surrounding sustainability in an effort to increase their own effectiveness as well as to raise general awareness of the topic
    • The United States Conference of Mayors predicts a potential increase of 4.2 million green collar jobs by 2038
    • The green building market is estimated to more than double through 2011
  • NYC Is One of the Most Sustainable Cities in the Country, Placing 5th of 50 Cities in the 2008 Sustain Lane Rankings
    • Mayor Bloomberg’s “PlaNYC” sustainability plan was recently unveiled, and contains 127 separate initiatives, including:
      • Revamping aging infrastructure
      • Planting 1m trees over 10 years
      • Ensuring all city residents live within a 10-min. walk from a park
  • Today, NYC Employs the Largest Number of Green Workers; Job Creation in This Area Is Also Expected to be Highest Nationally Top 10 Current and Potential Green Jobs Ranked by Metropolitan Area Existing “Green” Jobs in 2006 New “Green” Jobs Through 2038 1 New York City, NY 25,021 197,971 2 Washington, D.C. 24,287 192,165 3 Houston, TX 21,250 168,136 4 Los Angeles, CA 20,136 159,321 5 Boston, MA 19,799 156,660 6 Chicago, IL 16,120 127,545 7 Philadelphia, PA 14,379 113,772 8 San Francisco, CA 13,848 109,570 9 San Diego, CA 11,663 92,285 10 Pittsburgh, PA 9,627 76,174
  • Green Initiatives Can Be Split Into Four Main Components Green job source Description Renewable Power Generation
    • Reducing electricity that is generated by fossil fuels (e.g., coal) and replacing it with more environmentally friendly methods of electricity-generation. These include:
      • Wind
      • Solar
      • Hydro
      • Geothermal
      • Biomass
    Residential and Commercial Retrofitting Building more energy-efficient buildings as well as retrofitting existing buildings to be more energy-efficient. Renewable Transportation Fuels Using renewable fuels such as ethanol and biodiesel for the transportation sector. Engineering, Legal, Research and Consulting Using professional services related to the creation and implementation of green jobs.
  • There May Be Many Green/Sustainability Dimensions That Could Apply to Existing SCPS Program Areas
    • The sustainability trend is creating sub-segments within existing industries and functions – many niche opportunities could result, especially since the large population of NYC yields one of the largest concentrations anywhere of relevant individuals and industries
      • Green building/construction management
      • Sustainability in real estate and hospitality
      • Business/management
        • Sustainability officers/PR
        • Sustainability and environmental law
      • Sustainability in arts and design
      • Eco-tourism
    While master’s degrees are certainly a possibility, certificates (both credit and noncredit) would provide a logical format for targeting individuals working in fields that are focusing on green initiatives.
  • The Implementation of Health Information Technology (HIT) Is Another Megatrend That Will Have a Significant Impact on Demand for Programming
    • The HIT components of the stimulus package, collectively labeled HITECH, contained $19 billion for health information technology and health information exchange
    • The legislation contains $2 billion in grants to create a national system of computerized health records and $17 billion in higher Medicare and Medicaid reimbursements for physicians and hospitals to adopt the technology
    • Starting in 2011, physicians would get bonuses between $44,000 and $64,000, and up to several million dollars per hospital, if they show they have computerized their medical record systems
    • In 2015, any hospital participating in Medicare that does not meet the electronic records use standard will be penalized a percent of their reimbursements through the federal programs, with similar penalties being phased in for physicians
    Lying at the intersection of healthcare management and information systems management, HIT is an area SCPS is well-suited to develop programming and support a growing labor need.
  • Health Information Technology Initiatives Require New Skill Sets That Could Potentially Be Served by SCPS Programming
    • Businesses supporting needs of new HIT industry
    • IT infrastructure support, including security, privacy, networking, installation, technical support
    • Software/hardware development for products aligning with health records standard
    • Up to $70K/office under ARRA to install HIT
    • Training for usage in software and records management
    • Health-IT support needs
    • Training for usage in software and records management
    • Health-IT support needs
    • Up to $2M under ARRA to install HIT
    • Health-IT support needs, including security, privacy, networking
    • Training for usage in software and records management
    • Health-IT support needs
    • Business process development
    • Training for usage in software and records management
  • From 2010, Regional Extension Centers Will Be Established to Spur EHR Adoption
    • Stimulus-funded regional extension centers will be established nationwide to offer providers in their coverage area access to information and assistance
    • The major focus of the centers work will be to help select and implement certified electronic health record systems
    • The centers will work to:
      • Encourage adoption of electronic health records by physicians and hospitals
      • Increase the probability that adopters of EHR will become meaningful users of technology, which needs to be proven in order for stimulus payments to be made to physicians and hospitals
    • The regional centers will be hosted by non-profits
    • It’s unclear how many centers or staff will be established/hired in NYC, but it’s expected that 100+ centers will be established nationwide, with 50-100 implementation staff at each
    • Centers will be staffed by health information technicians who will go out in the field to support adoption through implementation services
  • A Ripple Effect Is Expected Across the HIM Job Market Following the Establishment of the Regional Extension Centers
    • Regional extension centers will encourage the adoption of EHR
    • A total of 70,000 HIM staff are expected to be needed to support this adoption
    • Physicians and hospitals/health systems will need a limited number of HIM staff to run, monitor, and update the systems once in place
      • HIM departments will likely reduce in size, with a smaller number of staff with updated skill sets being hired
    • EHR vendors will need to hire staff in order to implement systems, provide customer support, and to sell into the market
      • The vendor space has the potential to consolidate, with stringent EHR certification requirements having the potential to establish a handful of major players
      • Thus, HIM positions may be concentrated at a small number of vendors, such as Siemens, rather than at a large number of smaller vendors
    • Retail stores such as Walmart are contracting with EHR companies to distribute systems for physician practices
      • HIM professionals will be needed for implementation, support, and marketing roles
    Could SCPS leverage existing programming to become a reputable option for job seekers, career changers, and existing healthcare staff to develop their HIM expertise?
  • There Is an Opportunity for SCPS to Develop Implementation-Focused Educational Programming in Health Information Technology (HIT)
    • While the credential level could vary for a HIT program, shorter programs would allow SCPS graduates to gain more timely access to the stimulus-funded job market
    • There is an opportunity for SCPS to offer certificates and associate’s/bachelor’s degrees in Health Information Technology, or as concentrations in its B.S. in Healthcare Management or B.S. in Information Technology, to help prepare graduates to be at the forefront of EHR implementation across all sectors of the healthcare field
    • Individuals lacking credentials, career changers, and health information professionals currently employed in the field would be likely targets for programming in this area
    • Partnership opportunities would likely be a logical step for program development – associations and employers are leading the charge for HIT expansion
    • The Division of Programs in Business is in the process of working on a Master’s in Healthcare Informatics
    SCPS should look to leverage its information systems management/healthcare management expertise and staff to design potential programs in HIT.
  • An Aging Population Is Another Significant Trend That Is Likely to Have an Impact on Program Demand
  • Baby Boomers Are Redefining “Aging”
    • Baby boomers are unique relative to previous generations
      • Average projected retirement age is 64
      • Longer and healthier life
        • +30 years since 1900; average now 78
      • More educated than previous generations
        • 25% bachelor’s degree or higher
      • More technologically savvy
        • 69% of 50-64 year olds have Internet access
    • Embracing a new, more active retirement paradigm
      • Renewal of old passions; personal fulfillment and growth
      • Interest in continued work to make a contribution
        • 50% interested in working part-time or full-time
          • 1/3 focused on income
      • Interest in active retirement communities
  • Through Necessity or Desire, a Majority of Baby Boomers Will Remain in the Workforce Beyond Traditional Retirement Age; Many Will Start Businesses
    • According to a recent AARP survey, 8 out of 10 baby boomers want to keep working after they “retire”
    • Many of those will start a small business – the 55 to 64 age group represents the fastest growing group of self-employed workers
    • The Bureau of Labor Statistics reports that employees aged 50 and over now make up 28% of the U.S. workforce. By 2016, that proportion will rise to 33.5%
    Small business development could help fuel the need for continuing education.
  • 17% of Baby Boomers Are Planning to Enroll in an Education Program Within the Next Two Years; 4% Are Currently Enrolled Percent of Baby Boomers Planning to Enroll in an Education Course/Degree/Certificate Within the Next Two Years
  • Immigration (and Globalization) Will Be an Additional Social Dynamic That Will Continue to Have an Impact on the New York Region
    • New and first-generation immigrants are swelling the NYC labor market
    • Children of immigrant populations are continuing to advance through increasing access to higher education and the professional workforce
    • 37% of New York City’s population is foreign-born (compared to 12% nationally)
    • 46% of New York City’s workforce is foreign-born (compared to 15% nationally)
  • As the Buying Power of Immigrants Continues to Escalate, This Might Drive Increases in Specific Programs Such as Small Business Management POWER IN THE WORKFORCE Top occupations of immigrants in New York City (number of immigrants, followed by their share of occupation): Nursing, psychiatric and home health aides 108,600, 71% Cashiers 61,300, 54% Janitors and building cleaners 60,700, 58% Maids and housekeepers 56,200, 82% Retail salespeople 51,300, 43% Child care workers 48,200, 62% Taxi drivers and chauffeurs 46,900, 87% Construction laborers 43,600, 70% First-line supervisors/managers of retail sales workers 39,700, 54% Secretaries and administrative assistants 37,500, 28%
  • Search Engine Marketing Is Another Booming Field, Moving Out of the IT Silo and Into Management/Marketing
    • According to SEMPO’s (Search Engine Marketing Professional Organization) June 2008 survey data publication and forecasts:
      • The North American SEM industry grew from $9.4 billion in 2006 to $12.2 billion in 2007 , exceeding earlier projections of $11.5 billion for 2007.
      • North American SEM spending is now projected to grow to $25.2 billion in 2011 , up significantly from the $18.6 billion forecast a year ago.
    As a proxy, more than 20% of all jobs listed on the SEMPO Job Board are in the NYC region: Also of note: SEMPO launched its own “Agency Certification Process” in May 2008, an indication of emerging professional education needs: New York is a worldwide headquarters for Advertising, PR, Media, and Journalism – and these fields are rapidly moving to new online frameworks
  • New York’s Biotechnology and Pharmaceutical Industry Is Projected to Create 15,000 New Jobs in New York by 2012
    • If New York’s industries meet current federal growth projections, the State would gain over 7,000 new biotech and pharmaceutical jobs by 2012 . This would support more than 15,000 new jobs in New York by 2012.
    • Statistics projects that medicine and pharmaceutical manufacturing jobs will increase by 23.3 percent by 2012, almost 4 times the growth rate of research and development jobs. This would generate 5,000 new manufacturing jobs in New York .
    • Many new and burgeoning biotechnology efforts specifically target stem cell research , which has become more reliant on state and private funding as a result of strict limits placed on federal funds used for this research.
    • Distinct opportunity to develop SCPS programs to meet the needs of the biotechnology and pharmaceutical industry and employees.
    What impact would this have on potential certificate/graduate programs?
  • New York State’s Labor Department Predicts a 22% Increase in Computer-Related Jobs in New York City between 2002 and 2012
    • This represents an increase of over 20,000 jobs . Newly created jobs and the replacement of workers leaving through retirement and other reasons will lead to about 3,500 job openings annually.
    • Major growth is forecast for software engineers, software developers, database administrators, computer systems analysts, and communications analysts. Greatest demand (42%) expected for Network and Computer System Administrators.
    • Interestingly, “ soft skills ” have become very important as IT departments work more with other internal and external organizations.
    • IT Departments will continue to seriously review part-time and summer jobs, especially interns and those recommended by friends/colleagues, when assessing potential candidates.
    • Outsourcing and off-shoring may dampen IT employment growth. Outsourcing began several years ago to cut costs, but, today, the lack of relevant skills within firms requires outsourcing. Firms have not been able – and will not be able – to hold on to highly skilled professionals within IT departments.
    Is there an opportunity to leverage existing information systems management programming to develop additional IT-related programming?
  • Social Entrepreneurship Is a Field Receiving Increased Attention, and May Be Another Area Ripe for Certificate Programming
    • A social entrepreneur is someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change
    • While social entrepreneurs often work through nonprofits and citizen groups, many are now working in the private and governmental sectors
    • President Obama recently created the new Office of Social Innovation and Civic Participation
    • In March 2009, the Skoll Foundation added seven organizations to its grant awardees (totaling $5.35 million) through its Skoll Awards for Social Entrepreneurship, bringing the total number of organizations to 72
      • Organizations will be focusing on human rights, environmental sustainability, peace and security, and economic and social equality
    In a 2007 article in the Stanford Social Innovation Review, Roger Martine and Sally Osberg wrote, “The nascent field of social entrepreneurship is growing rapidly and attracting increased attention from many sectors. The term itself shows up frequently in the media, is referenced by public officials, has become common on university campuses, and informs the strategy of several prominent social sector organizations, including Ashoka and the Schwab and Skoll foundations.”
  • With NYU Considering Itself “A Private University in the Public Service,” There May be an Opportunity for SCPS to Augment This Concept
    • NYU’s Catherine B. Reynolds Foundation Program in Social Entrepreneurship is an existing program designed to “attract, encourage, and train a new generation of leaders in public service”
      • Currently provides undergraduate scholarships and graduate fellowships
    • With the interest and push for social entrepreneurs unlikely to diminish, today’s business leaders and future stars are seeking a foundation for social innovation
    • Can we do a collaborative noncredit certificate in this area with Wagner?
    • Potential targets:
      • Budding social entrepreneurs
      • Aspiring/existing non-profit sector managers
      • M.B.A. students
  • Ultimately, NYC’s Infrastructure Must Grow to Remain Globally Competitive, Leading to Growth in Planning, Architecture, and Construction Management
    • NYC infrastructure investment, comparison with China: www.nycfuture.org
      • AUGUST 2008: NEW YORK NEEDS AN OLYMPIC-SIZED INFRASTRUCTURE INVESTMENT: China has been investing aggressively in the expansion of its urban infrastructure; it’s long overdue for officials in NYC…
      • Does New York Need to Dream Big Again?, http://cityroom.blogs.nytimes.com/2008/08/26/does-new-york-need-to-dream-big-again/
      • New York City Should Look to China for Infrastructure Inspiration, http://www.observer.com/2008/real-estate/yaro-nyc-should-look-china-infrastructure-inspiration
      • Are New York and Chicago becoming America's most Futuristic Cities? http://www.city-data.com/forum/general-u-s/282557-new-york-chicago-becoming-americas-most-3.html  (you'll need to register, it's free, to access the article)
    “ The European Union and Japan, Korea and China are all now planning at the mega-region scale, moving aggressively to build high speed rail networks and other large scale infrastructure systems that will enhance their global competitive position. As a nation and as a region, we should take heed of the aggressive economic development, infrastructure, education and quality-of-life investments being made in the Pearl River Delta and China as a whole. Our ability to compete globally will hinge on our willingness to make similar investments here.” - Robert Yaro, president of the Regional Plan Association, America’s oldest independent metropolitan policy, research, and advocacy group Existing SCPS programs can benefit from this push with appropriate positioning and outreach as NYC’s vision evolves.
  • Social Networking Provides the Foundation for Connecting Prospective Students With the Real-Time Value and Relevancy of SCPS Programming
    • A working definition – web sites that offer users expressive space online and connect users to each other
  • While the Lines Are Blending, Specific Social Networks Are More Appropriate Than Others to Target Various SCPS Audiences
    • Who is using these networks?
      • While historically popular among traditional-age college students, high school students and adult students are also increasingly subscribing to social networks like Facebook, as they become more open to different pockets of the consumer population
      • Twitter attracts an older, less affluent audience than Facebook, and is becoming an epicenter of news events
      • Almost everyone under 35 uses social networks, but the growth of these networks over the last year has come from older adults
      • Use of social networking by people aged 35 to 54 grew 60 percent in the last year
      • However, evidence shows that more “adult” oriented social networking sites have yet to gain much attention from schools
        • LinkedIn is a network that targets professionals interested in building trust networks for career development purposes
        • Plaxo focuses on centralizing and automatically updating contact information across professional networks
        • Ryze aims to connect entrepreneurs
        • Hoover’s Connect is a business networking tool that assists users in establishing relationships with targeted prospects
  • Social Networking Is Being Incorporated Into a Variety of Higher Education Strategies
    • How are schools currently using social networking sites?
      • Advertising
        • Small sidebar text ads from schools offering online programs
      • Profile
        • Profile pages on sites, like Twitter and Facebook, that extol the virtues of the institution
      • Student engagement
        • Placement of ads to recruit students for specific activities
      • Library
        • Supplementary to traditional email and newsletters
      • Student connections
        • Some students may use school profile pages to reach out to their peers in the interest of forming study groups and the like
      • Some schools have created their own social networking sites with mixed results
        • E.g. University of Nebraska – Lincoln ClubRed, which connects newly admitted students before they start college
  • A Coherent Strategic Plan for Utilizing Social Networking Is Essential
    • As more and more colleges create profiles, fan pages, and Twitter feeds, the question of how best to take advantage of these adolescent technologies, and how influential they actually are in terms of recruiting students and prompting donations, remains largely unanswered
    • The absence of proven best practices has left some leery of jumping into the social Web
    • Other institutions have begun wading into Facebook and Twitter without having a coherent strategic plan in place — an approach that experts say could leave them at an even greater disadvantage than missing the boat
    • Just because some colleges fear social media doesn't mean they are not wildly curious about it. Accordingly, software and consulting firms have come out of the woodwork to advise colleges on how to wield social Web tools to meet the expectations of students and strengthen their brands
  • Moving Forward, Social Networking Can Be Used to Augment SCPS’ Value Proposition
    • Some potential implications for NYU-SCPS include:
      • Enhanced professor-to-student and student-to-student engagement
      • A more active learning process, in which collaboration and creativity are encouraged
      • An improved sense of community
      • Staying connected with alumni
      • Potentially powerful recruiting tool
  • As Experimentation With Social Networking Moves Forward, The Return on Investment Will Become Clearer for SCPS
    • Key Takeaways
    • Current market
      • There is a keen consumer appetite and a healthy response to such demand for entertainment-oriented social networks. There is evidence to suggest that adult student-participation in social networks is increasing.
      • Some institutions have made forays into the social networking arena in the interest of supporting current and engaging prospective students.
    • A new concept?
      • Despite the hype, social networking in higher education is not a new concept. Quasi social networks, like Learning Management Systems, already exist at least in terms of structure and potential.
    • Return on investment
      • However, the return on investment for social networking is difficult to judge due to the relative new and experimental nature of the activity.
    • Value to institutions
      • While there is potential value to be derived from social networks, it is important to consider that value stems not simply from using a particular tool but using it for a clearly defined purpose.