Dive Brief:
- AGB Institutional Strategies Consulting, a new service from the Association of Governing Boards, will focus on the operational and financial challenges of colleges and universities, and serve as a resource regarding new business models.
- The company announced a methodology with three parts, starting with external evaluation and diagnostics assessments, followed by the development of innovative strategies addressing revenue and cost alignment, and implementation.
- The consulting firm, to be led by Richard Beyer, will share expertise of the macro trends shaping higher education and help its clients develop new business models in this context.
Dive Insight:
The president of the Association of Governing Boards of Colleges and Universities, Richard Legon, told eCampus News that 80% of member presidents agreed higher education institutions need help addressing their business model, when asked. Traditional colleges and universities are facing competition from certificate programs, microcredentials, and coding bootcamps that promise quick routes to new careers. They are navigating an expansion of online offerings and experimentation with competency-based degree programs. The next generation of college students is looking for more opportunities to collaborate and use interactive technology, yet “nontraditional” students are making up a greater share of the student body than ever. There is no doubt higher education is a tough industry today.