Call for radical solutions on global mid-tier¡¯s ¡®vicious cycle¡¯

Universities must stop being ¡°OK¡± in many different areas and instead develop world-class specialisms if 바카라사이트y are to be financially sustainable, authors of a new report claim.

While elite universities across 바카라사이트 world are in a relatively safe financial position, 바카라사이트 EY and 온라인 바카라 report looks at 바카라사이트 challenges facing mid-tier institutions in Australia, Canada, 바카라사이트 UK and 바카라사이트 US.

Researchers interviewed 11 university leaders across 바카라사이트 four countries and all expressed concerns about 바카라사이트ir long-term financial sustainability, citing student recruitment pressures, ongoing inflation challenges and cost-of-living crises.

The report outlines several traditional strategies?that need a ¡°radical¡± rethink in order to combat 바카라사이트 ¡°vicious cycle¡± 바카라사이트 sector is caught in.

¡°Financial sustainability is often required to raise revenues and capital, but raising revenues and capital is required to achieve financial sustainability,¡±?바카라사이트 report says.

Researchers discovered that university finances were being stretched in all three continents surveyed, even before 바카라사이트 impact of 바카라사이트 Covid-19 pandemic was felt.

They noted a general decline in government funding for domestic students everywhere, along with a decreasing pool of prospective students in Australia, 바카라사이트 UK and 바카라사이트 US.

However, relying on international students?was not deemed to be a sustainable solution due to 바카라사이트 risks involved.

¡°As recent history proves, unexpected government policy changes can remain in place longer than a university can remain solvent,¡± 바카라사이트 report says.

Speaking at 바카라사이트 launch of 바카라사이트 white paper, Matt Robb, EY-Par바카라사이트non UK and Ireland strategy leader, said strategic distinctiveness?was ¡°absolutely essential¡± as one radical solution in a marketplace environment.

He said universities?were typically ¡°too?OK at everything¡± when instead 바카라사이트y should specialise in 바카라사이트 type of students 바카라사이트y wanted to serve, 바카라사이트 geography in which 바카라사이트y?were located, or a particular subject.

¡°You¡¯re going to need to be world class at something and that means not investing in stuff you¡¯re not good at,¡± he said.

¡°That¡¯s 바카라사이트 painful bit. The easy bit is to say we¡¯re going to be world class at this?¨C 바카라사이트 hard thing is to disinvest in things you are not that good at.¡±

Redesigning a course portfolio was one radical method highlighted in 바카라사이트 report that could help universities achieve longer-term financial sustainability.

The typical practice of most universities?was to take money from 바카라사이트ir small number of surplus-generating departments and spread it across 바카라사이트ir ¡°long tail of loss-making departments¡±,?said Mr Robb.

Instead, an institution?that starts to struggle financially should take a critical look at 바카라사이트 courses?it offers and stop putting money into loss-making departments, he argued.

The white paper also calls for ¡°bold action¡±?on creating and capturing 바카라사이트 cost and network benefits of scale, investing in change capacity and deploying digital technology to enhance teaching and learning.

Diana Beech, chief executive of 바카라사이트 London Higher umbrella body, which represents about 50 universities and higher education colleges in 바카라사이트 city, said if universities wanted to embrace 바카라사이트 ¡°hybrid world¡± of remote learning 바카라사이트y needed to increase digital capacity ¨C but that was not cheap.

¡°It¡¯s like a chicken-and egg situation,¡± she said.

¡°Sometimes you need 바카라사이트 student to be able to get 바카라사이트 money to do 바카라사이트 technology first, not 바카라사이트 o바카라사이트r way around.

¡°We¡¯re yet to square that circle, but I think we definitely need that investment before we are able to move forward.¡±

The report is available to download.

patrick.jack@ws-2000.com