How can top universities stay great?

The Times Higher Education, or THE World University Rankings, announced at the end of September, with their rival QS and Shanghai rankings, have become increasingly important as measures of the quality and rank of the world's universities.

There is more relative change in rankings than has been seen in the past, reflecting quite extraordinary external volatility for the sector worldwide.

The winds of change are dominated by new pedagogies, but include increasing running expenses relative to both output and availability of funds, increasing competition from emerging universities in Asia, South America and the BRIC – Brazil, Russia, India, China – economies generally, the need to operate globally, intellectually if not geographically, and an increased priority for excellence in education without diminishing research outputs.

Here are my key messages for university presidents who wish to see their institutions shine.

First, the cost of running great universities and their importance to local economies have become vast. Think local, act global has never been more important.

Fulfil as comprehensively as you can a broad contribution to local need. Inclusivity in admission policies, relevance of education to the local economy, generation of intellectual property that improves productivity and leads to jobs, and working with other local partners to improve local environment and quality of life are all as important as the excellence traditionally associated with the ivory tower.

Always remember in doing this that you are a global citizen more than most. Your institution is in a world where international connectivity is more important than ever. This does involve student mobility, but more important is the global knowledge pool, with universities at the forefront and global alliances being forged to combat the challenges of our age.

Second, remember that education is every bit as important as research. Our degrees are expensive whether for the individual or the state. A high-quality experience and outcome are essential.

Students are both members of the university community and customers. Society at large sees education as the most important thing we do. This is reflected in the development of the Teaching Excellence Framework, or TEF, in the United Kingdom a few years after the well-established Research Excellence Framework, or REF. Ensure graduates are well prepared for the job market.

All of this is obvious, but has not typically been widely reflected in promotion criteria or work patterns for many academic staff. Deal with this proactively rather than waiting for external pressures to operate.

Third, in your research give as much attention to the blue sky as the applied. In your disciplines value the social sciences and the humanities generally as highly as medicine and the natural sciences. As well as having intrinsic worth, this approach supports true interdisciplinarity.

Funding and impact

Fourth, place close attention to the bottom line and ensure that through benevolence, operating margins on the core business and grant success you have strategic funds to invest in the institution.

Major research universities ranking at a very high level have of the order of US$800 million allocated to research through external and internal funding. This is based on high-quality activity and includes significant commercial income. Recognise this if you have a gap and have a plan to bridge it. Typically this means generating a reinvestment core margin of at least 5% on your core operations.

Fifth, recognise the importance of impact. Look to make a broad difference. Be attuned as to what political and local leaders think of your relevance and responsiveness to your local community. Show your university to be flexible and responsive. Act as a great civic institution central in so many ways to societies’ well-being. Do this and governments are more likely to respect your university and support a reasonable degree of autonomy.

Finally, realise that the information revolution has shifted the ground under our feet forever. Those who deny this have their heads in the sand. There will be more than one version of the flipped classroom and more than one approach to blended and e-education. Make sure that your strategy in this area is well thought out, has wide support and is implemented.

There are other things a university has to do, of course, but if you heed the few pointers set out here, success is more likely to follow.

Professor Edward Byrne AC is president and principal, King’s College London, UK. This is based on his presentation at the recent Times Higher Education World Academic Summit in Melbourne, Australia.