There have been a number of morbid predictions of the demise of a large percentage of today’s Higher Ed institutions due to the combination of disruptive technology (MOOCs and other on-line learning initiatives) and the unsustainable cost increases.
Disruption theory holds that new business models are required for survival. As suggested in this NYTimes article, the concept of a law school creating its own law firm may fit the definition. What if Biology departments morphed into true BioScience research and development firms?
(Admin note: Here’s the NYTimes article as PDF for those without NYTimes sub.)
Didn’t see this one coming… but when one looks at all the “business” connected to and done by Universities outside the classroom, but using students as employees, maybe I should have.
Old way is Research professors get the contracts, maybe from a corporation, through the university, and then hire a bunch of grad student interns ultra cheap, and create intellectual property, if not products. Today, intellectual property IS a product often enough.
MIT media lab has been doing that forever. NMSU electrical engineering research is R&D for future warfare, WSMR, Lockheed, Boeing, etc. Could kind of “refold the dimensions and moving parts, and voila, a new business model. Kuhl.
Inspiring to think that present “parts” of the economy can be redistributed, and re aggregated, and disrupted into new forms that still get important work done and create jobs. Very exciting idea…