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Revenue Generation Strategies: Leveraging Higher Education Resources for Increased Income AEHE Volume 41, Number 1

  • Erscheinungsdatum: 16.12.2014
  • Verlag: Jossey-Bass
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Revenue Generation Strategies: Leveraging Higher Education Resources for Increased Income

Achieving successful financial viability by broadening revenue sources is one of the most important issues facing colleges and universities today. Increasing operating costs, along with the reliance on traditional student tuition, government support, and philanthropy, are challenging universities. One way administration leaders and faculty are meeting this challenge is to establish supplemental revenue streams from a variety other sources such as: - continuing education, - credit and noncredit certificates, - degree completion and upgrade programs, - study abroad, - domestic and international branch campuses, - distance education, - auxiliary services, - technology transfer, and - partnerships or alliances with other organizations. These types of activities, formerly considered secondary ventures, are now integral to lasting and responsible financial strategic planning. This monograph examines a wide variety of supplemental income options and opportunities, as well as examples of restructuring financial planning schema. While not negating the value of traditional college education, these new revenue sources in fact lead to greater institutional effectiveness. This is the 1st issue of the 41th volume of the Jossey-Bass series ASHE Higher Education Report . Each monograph is the definitive analysis of a tough higher education issue, based on thorough research of pertinent literature and institutional experiences. Topics are identified by a national survey. Noted practitioners and scholars are then commissioned to write the reports, with experts providing critical reviews of each manuscript before publication.

Produktinformationen

    Format: ePUB
    Kopierschutz: AdobeDRM
    Seitenzahl: 152
    Erscheinungsdatum: 16.12.2014
    Sprache: Englisch
    ISBN: 9781119049142
    Verlag: Jossey-Bass
    Größe: 602 kBytes
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Revenue Generation Strategies: Leveraging Higher Education Resources for Increased Income

Executive Summary

New opportunities and increasing challenges have created a need for a thorough review of existing and innovative practices for financial revenue in higher education. Supplemental revenue streams that earn additional income for colleges and universities include continuing education, credit and noncredit certificates, degree completion and upgrade programs, study abroad, branch campuses, distance education, auxiliary services, technology transfer, and partnerships or alliances with other organizations. These endeavors were previously regarded as sideline ventures, but are becoming recognized as strongly needed revenues that supplement traditional tuition income. Graduate schools and schools of continuing and professional studies are offering more postbaccalaureate certificates and credentialing programs that reflect new demands in the modern workplace and global markets. Certificate programs may be the largest area of academic revenue growth for higher education over the next decade, and institutions must plan to leverage their assets with both academic and nonacademic activities. This monograph seeks to examine several important questions in continuing higher education, supplemental programs, and auxiliary services today. Specifically, why is there a need for more revenue? What are the options and prospects for colleges and universities to increase income from these and other nontraditional sources? What challenges do different higher education institution types face in enhancing their existing revenue streams? How can colleges and universities strategically plan to leverage their resources to fulfill their current mission and expand revenue streams effectively?

Higher education has gained the perception by some people and groups as overpriced, ineffective, outdated, and not producing a sufficient return on investment. The reasons stated often include the easy access to nearly unlimited funds from student loans, supposedly overpaid and underworked faculty, overstaffed bureaucracies, a lack of accountability, and a general disconnection from the needs of society. In addition, there have been widely publicized problems with many for-profit institutions that have resulted in legislative scrutiny and accreditation intervention. To compound the financial problems and public image, macroenvironmental issues such as the slow growing economy, volatile financial markets, rapidly changing demographics, and other societal changes are creating challenging dilemmas to maintain operational viability. Therefore, supplemental revenue generation can broaden the support base and help mitigate some of the criticism facing traditional collegiate institutions. Moreover, there is a view by some observers and organizations that there is a societal devaluation of college degrees that is causing a wider recognition of new types of credentialing that is different from programs that were previously offered (DiSalvio, 2013). However, established colleges and universities have already been offering various types of certificate programs and online delivery systems for many years. Supplemental revenue is being achieved at institutions using on-campus, off-site, and online distance education courses in fields such as business, information technology, and healthcare (Cottrell et al., 2012; Pritchett, White, & Skinner, 2006). Internal and external stakeholders should be informed that certificates, credential programs, and traditional higher education degrees are not mutually exclusive. One of the main premises that this monograph proposes is that there can be a beneficial synergy in creating a mixture of educational offerings that serve multiple constituencies and purposes.

While some higher education scholars and leaders have voiced concerns about the current and pending financial problems, along with external doomsayers, there are also critics of believers in a "higher education bubbl

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