Industry 4.0 is
bringing a lot of technological and social changes that demands lifelong
learning. The new business models are disrupting traditional educational
institutions and operating models. With more automation, digitization, and
fluid job markets, the future of higher education must focus on skills.
Continued learning is
essential to update skills and stay relevant. Moreover, the evolving demands of
consumers are driving change in the education sector. The demographic changes,
increasing cost, declining state appropriations, competition, shifting consumer
demands, etc., may lead to a new business model, Grand Thornton reports. The 20th-century
workforce is being reconstructed. Thus, higher education needs restructuring.
At this stage, higher education management
acknowledges that the educational systems and future pathways will get served
with alternative and innovative models. The educational skills revolve around
these (fig. 1) as per the World Economic Forum.
The universities would
enlarge sizable footprints through on-line platforms and marketing. The University
of Massachusetts has announced that it is planning for a national online
college. Many smaller and like-missioned universities are merging into larger
institutions to serve students nationwide.
The concern over the
skills gap has led to several undergraduate and master’s degree programs that
claim to consult with industries to produce the trained workers they need. In
short, the industries would dictate the college and graduate curricula.
In the wake of these
challenges, plans, and so forth, the leadership
and management programs are also evolving. The universities gain ground
to make scholarships and research more inclusive for an appropriate work-life
balance in academia. The main intention is to keep academia and work connected.
This is an important stage for curricular transformation in higher education
which would close the gap between the jobs and classrooms.
The future of higher
education would determine the future of work. It involves a shift in the way
students consume education. Students may receive credits in different ways that
may include dual-degree programs, early college, online providers, multiple
universities, community colleges, and so forth. As a result, the colleges are
expected to become nimble, entrepreneurial, student-focused and accountable for
students’ learnings.
Educational
transformation is the need of the hour today. The range of leadership skills
with which the university heads like Dean, President, principals, etc., are
becoming vast. It includes academics, finance, marketing, athletics,
fundraising, research, education transformation, etc. The global leaders in
higher education management demand strategic thinking, diplomacy, smart
compromises, and risk management.
To develop leadership
skills in this changing education scenario, there is a program – Global
program in Higher Education offered by The Wharton School in association
with the Education Management Research Centre. The program helps you to take
your educational institute to the next level. Investment in leadership is
important for the day. As per Deloitte’s research, nearly two-thirds of presidents
surveyed had coaches or mentors who help them to get ready for the role. One-third
of them still receive coaching to succeed in the job.
Rightly, college
presidents are compared to corporate CEOs today. There is a shift in
responsibilities. Higher education is a collegial and intellectual community
where they are the academic leaders. The most important skills needed by a
president when they take the office involves strategic thinking, communicating,
storytelling as the primary skills. The otherskills include collaboration,
financial and operational acumen, academic and intellectual leader.
John DeGioia,
president, Georgetown University spent his first years in office. However, in
recent years, he extends the international reach of the institution and global
brand supervising a US$1.67 bn capital campaign.
As a concluding note, leadership
development is getting stigmatized in higher education. The institutions are
looking for transformational leaders who can take their campus to the next
level or fix the long-standing problems.
