How universities should manage innovation

Innovation has reached buzzword status with higher education institutions creating innovation offices and chief innovation officer positions, launching various online and competency-based offerings, and, in some cases, answering to nervous boards of trustees regarding whether their institutions are doing enough to prepare students for an increasingly uncertain future, writes Michael Horn for Forbes.

Despite the frenetic tone of some of the hype, the concerns fuelling this move towards innovation aren’t misplaced. New disruptive innovations that are faster and cheaper than traditional programmes have entered the postsecondary landscape. There is more pressure on institutions for accountability – to not only enrol students, but also to help them succeed up to and after graduation. College costs have continued to rise even as the average applicant is less able to pay, which has called into question many colleges’ sustainability.

Innovations that do everything from create efficiencies for existing programmes to cultivate new sources of revenue in new programmes are in high demand. As innovation becomes a major part of colleges and universities’ strategies, creating processes to manage it is vital. Colleges must mitigate the risks that can come with innovation while maximising the upside for their specific institutional mission.
Full report on the Forbes site