University Leaders Raise Concerns About Adapting to Market Forces Reshaping Higher Education October 21, 2019 Section 1 ContentLeaders of transformation-ready universities prepare for continual competition and disruptionA new report, “The Transformation-Ready Higher Education Institution: How Leaders Can Prepare for and Promote Change," co-authored by ACE, Huron, and the Georgia Institute of Technology, found that few higher education leaders are highly confident that their institutions are adequately prepared for changing market forces. Additionally, leaders are challenged by public perceptions of the value of higher education and increased competition for students both domestically and internationally.The leaders that consider a long-term, yet adaptive, strategic planning approach can better anticipate these market trends and make the necessary changes to thrive now and in the future. Yet only 16 percent of respondents are looking 10 years or beyond in terms of strategic planning.“We know there is no one correct approach to preparing for change. We do know strong leadership, careful but dynamic planning, and a resolute focus on students will better position institutions to educate the learners of today and tomorrow in new ways," said co-author Louis Soares, chief learning and innovation officer at ACE.The authors of the report suggest creating a culture of shared leadership that considers multiple perspectives rather than a single person or governing body. This model can help institutions prepare and be nimble enough to respond to these changes. Most leaders recognize changes are needed to respond to the competitive landscape and acknowledge these investments should align with the evolving student population, with the majority of respondents indicating they are rapidly overhauling their academic programs, investing in technological improvements, and expanding online offerings.“The fastest growing population in higher education is adult learners, now comprising nearly half of the total learner population. Working professionals have vastly different needs than those of the traditional student," said Dr. Nelson Baker, dean of professional education at Georgia Tech. “That shift coupled with the fact that technology allows us to provide educational opportunities on a global scale makes it imperative that we plan more strategically and prioritize agility in order to meet the needs of learners today and in the future."Yet only 14 percent of the leaders planning technology investments have strategic technology management integrated across their institutions—suggesting a potential gap between intentions and leadership's capacity to realize the value of these investments.“Many institutions subscribe to planning models that were built for a different time and a different competitive market," said Peter Stokes, managing director in Huron's education business. “To become truly transformation-ready, institutions' short- and long-term planning efforts should link directly to the needs of increasingly empowered, discerning audiences for whom higher education is not simply a next step after high school." ApproachTogether, ACE, Huron, and the Georgia Institute of Technology surveyed 495 higher education leaders, including more than 250 presidents and chancellors, from four-year public and private nonprofit institutions to understand their perspectives about how their organizations are preparing for the inevitable change and disruption. Participants were asked how they are anticipating and planning for shifts in market trends such as declines in federal and state funding, increased competition, and a shrinking, yet more diverse, student population. In addition to the survey, several participants were interviewed to offer their perspectives on innovation and its impact on the higher education industry. Portions of those interviews are included in the report, which can be viewed here.WebinarACE’s Senior Vice President for Learning and Engagement Philip Rogers will be discussing the report during a webinar tomorrow, Oct. 22 at 2 p.m. (ET). Report co-authors Soares, Baker, Stokes, and Richard DeMillo of Georgia Tech will discuss how leaders can position their institutions for meaningful change by building upon four key dimensions of transformation readiness. Click here to register. Section 2 Content Section 3 Content Section 4 Content Section 5 Content Section 6 Content Media Contact Audrey Hamilton Email:email@example.com Telephone:(202) 939-9353 Button Content Rail Content 1Report HighlightsFew higher education leaders are highly confident that their institutions are adequately prepared for changing market forces.Leaders have more confidence about the future at institutions with longer planning horizons and integrated performance management structures.A majority of institutions are planning three to five years out, with less than 20 percent planning 10 years or beyond.Four transformation-readiness imperatives: Empowering and promoting a shared leadership model Planning differently for the immediate- and long-term Pursuing data-driven performance management Creating student-first engines to meet new demand Download (1.6 MB PDF) Rail Content 2Find More on ACE EngageExplore related resources on ACE Engage®, ACE’s peer-to-peer learning platform. ACE Engage includes access to a curated content library, microcourses, exclusive events, and more.Engage Convos 3: Institutional Market Stressors and College Closures Glossary: College and University Finance and BudgetHow Should We Change College Admissions? (If you are not currently an ACE Engage user, learn more about joining or create your account.) Rail Content 3 Related Online Event September 25, 20201:00 PM to 2:00 PM ET Increased financial pressures have prioritized workplace management strategies. Two higher ed institution leaders share their perspectives on their workforce. Supported by Fidelity Investments. Presented on ACE Engage—Create your account. Read More Online Event September 25, 20201:00 PM to 2:00 PM ET Workforce Management During Challenging Times Online Event September 22, 20203:00 PM to 3:30 PM ET ACE’s Terry Hartle and Jon Fansmith look at the impact of COVID-19 on institutions across the country and prospects for federal policy action in higher education in light of the pending presidential election. Presented on ACE Engage—Create Your Account. Read More Online Event September 22, 20203:00 PM to 3:30 PM ET Public Policy Pop-Up: September Edition Online Event September 17, 20204:00 PM to 5:15 PM ET Join ACE and the Department of Education this Thursday to discuss FERPA and blockchain. FERPA specifies rights to access, amend, and control disclosure of personal information in student education records. Only on ACE Engage—Create your account! 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Only an ACE Engage—Create your account! Read More Online Event September 10, 2020 Blockchain Innovation Engage Group: Zoom Event #1 (None) This award is intended to recognize a current college or university president/chancellor who embodies the spirit of the late Reverend Theodore M. Hesburgh. Read More (None) TIAA Institute Theodore M. Hesburgh Award for Leadership Excellence Press Release September 8, 2020 ACE announced today that Amarillo College and Dominican University of California are the recipients of the 2020 ACE/Fidelity Investments Award for Institutional Transformation. Read More Press Release September 8, 2020 Amarillo College and Dominican University of California Receive ACE/Fidelity Investments Award for Institutional Transformation Online Event September 3, 2020 Join Rick Staisloff and guests for a virtual happy hour where we'll be discussing the best ideas for driving higher ed towards sustainability during COVID-19. Presented on ACE Engage—Create your account. Read More Online Event September 3, 2020 Strategic Finance Learning Studio Happy Hour #5 News September 3, 2020 With the 2020 election on the horizon, student voting and political campaign activities on campus will be different this year—perhaps significantly. Read More News September 3, 2020 How Colleges Can (and Can’t) Support 2020 Campaign-Related Activities on Campus and Help Students Vote Video September 1, 2020 Susan Barbitta of NC Student Success Center and Lisa Chapman of Central Carolina Community College discuss online teaching and student equity as part of ACE and ACUE’s Conversations on Student Success. Presented on ACE Engage—Create your account. 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Read More Online Event August 27, 20206:00 PM to 7:00 PM ET Strategic Finance Learning Studio Happy Hour #4 News August 24, 2020 Colleges and universities have until Oct. 20 to apply for funding from the CARES Act-funded Institutional Resilience and Expanded Postsecondary Opportunity program. Read More News August 24, 2020 Deadline Approaching for Institutions to Apply for CARES Act Grant Program Funds Video August 19, 2020 ACE’s Blockchain Innovation Challenge invites teams to design blockchain projects that refocus the education-to-employment ecosystem on students and workers. Learn more about blockchain's potential and how to join the Challenge in this webinar. Read More Video August 19, 2020 Blockchain Innovation Challenge Launch Event Podcast August 19, 2020 Bates College President Clayton Spencer discusses how COVID-19 has impacted the value proposition of liberal arts colleges. 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