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3 hard facts shaping higher education thinking and behavior

Grant Thornton LLP
Grant Thornton LLP
Grant Thornton LLPGrant Thornton LLP

Expansion in tuition, enrollment, faculty, buildings, and everything else ― is fast becoming a thing of the past. Institutions will have to carefully pick initiatives, making clear choices about what to do and, most significantly, what not to do. Download 2016 State of higher education >> http://gt-us.co/1UbUF56

3 hard facts shaping higher education thinking and behavior

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3 hard facts
shaping higher education thinking + behavior
© 2016 Grant Thornton LLP | All rights reserved2
Fact #1
Your institution is on its own
Take decisive action
Partner with faculty, consider
affiliations ― change the
trajectory
Get creative
Innovate in finances, academics,
promotion ― everything
Target demographics
Find out what's important to new
groups ― and provide it
Distinguish yourself
Separate your institution from the
distressed-college fold ― begin
with a realistic view of your
situation
© 2016 Grant Thornton LLP | All rights reserved3
Fact #2
Opportunity abounds
Seize opportunities in
student growth
1 Demographic groups such as
Hispanic
2 Students in the West and
South
3 Students outside your
geographic reach
Create unique offerings
such as liberal arts + vocational
objectives
Promote your uniqueness
Develop online or hybrid
delivery systems
© 2016 Grant Thornton LLP | All rights reserved4
Fact #2 cont.
Opportunity abounds
Leverage simplicity
Focus on doing only a few things
― do them well
Identify less-attractive programs
― reduce or eliminate them
Explore new initiatives
As revenue slowly grows, resist
pressure to restore budget
reductions to low-priority
expenses
Instead, use the incremental
revenue for innovation such as
attracting new students and
improving retention
Read the article
Maturing from adolescence into adulthood:
Major factors shaping the sector in 2016
© 2016 Grant Thornton LLP | All rights reserved5
Fact #3
This may be the decade of the distressed college
Distinguish yourself
Separate your institution from the
distressed-college fold ― begin
with a realistic view of your
situation
Consult with key stakeholders to
learn and gain their support
Determine a projection based on
your current course ― the usual
conclusion is that your current
course is not sustainable
Then think boldly about new
paths consistent with your
mission ― but possibly in sharply
different ways
© 2016 Grant Thornton LLP | All rights reserved6
Read the article
Maturing from adolescence into adulthood:
Major factors shaping the sector in 2016
See the full report
The State of Higher
Education in 2016
Ad

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3 hard facts shaping higher education thinking and behavior

  • 1. 3 hard facts shaping higher education thinking + behavior
  • 2. © 2016 Grant Thornton LLP | All rights reserved2 Fact #1 Your institution is on its own Take decisive action Partner with faculty, consider affiliations ― change the trajectory Get creative Innovate in finances, academics, promotion ― everything Target demographics Find out what's important to new groups ― and provide it Distinguish yourself Separate your institution from the distressed-college fold ― begin with a realistic view of your situation
  • 3. © 2016 Grant Thornton LLP | All rights reserved3 Fact #2 Opportunity abounds Seize opportunities in student growth 1 Demographic groups such as Hispanic 2 Students in the West and South 3 Students outside your geographic reach Create unique offerings such as liberal arts + vocational objectives Promote your uniqueness Develop online or hybrid delivery systems
  • 4. © 2016 Grant Thornton LLP | All rights reserved4 Fact #2 cont. Opportunity abounds Leverage simplicity Focus on doing only a few things ― do them well Identify less-attractive programs ― reduce or eliminate them Explore new initiatives As revenue slowly grows, resist pressure to restore budget reductions to low-priority expenses Instead, use the incremental revenue for innovation such as attracting new students and improving retention Read the article Maturing from adolescence into adulthood: Major factors shaping the sector in 2016
  • 5. © 2016 Grant Thornton LLP | All rights reserved5 Fact #3 This may be the decade of the distressed college Distinguish yourself Separate your institution from the distressed-college fold ― begin with a realistic view of your situation Consult with key stakeholders to learn and gain their support Determine a projection based on your current course ― the usual conclusion is that your current course is not sustainable Then think boldly about new paths consistent with your mission ― but possibly in sharply different ways
  • 6. © 2016 Grant Thornton LLP | All rights reserved6 Read the article Maturing from adolescence into adulthood: Major factors shaping the sector in 2016 See the full report The State of Higher Education in 2016
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