As chief business officers stand at the intersection of advancements in technology and demands for services that make their institution competitive, it’s crucial that campus leadership finds ways to collaborate, innovate, and transform. All that and more is required to keep up with the changing higher education landscape and meet the diverse needs of current and future students.
As the world continues to propel forward in product and digital advancements, how do institutions implement new services to stay ahead of the curve? In 2014, NACUBO introduced the Economics Models Project to help its members navigate changes within their institutions to evolve and maintain financial viability. As that work continues, institutions are also turning to outside partners and adopting new business model innovation tools that more closely align with their college’s vision.
In the article “New Models in the Making,” starting on page 68, two institutions share how revamping their economic business model, which incorporates external partnerships, has created a successful business formula that will help provide increasing value to students, meet strategic initiatives, and create financial sustainability.
Moreover, as higher education institutions innovate and evolve, they must also consider how to integrate digital learning experiences into the curriculum. In the final article of this collaboration-themed issue, “Digital Disruption” explores how online learning has changed since the inception of massive open online courses; the importance of partnerships, like the one between Arizona State University and Starbucks; and the steps institutions need to take to move closer to a digitized learning experience.
Changes in the educational ecosystem have allowed technology to inspire the networked university, and this article outlines three versions of how your networked institution can function. However, “many other permutations and combinations will appear in response to institutional and learner needs,” notes author Peter Smith, “driven by ever more sophisticated and powerful technologies, and the innovations and improvement they enable.”
KHESIA TAYLOR is associate editor of Business Officer.