With declining societal confidence and diminishing value of a university degree, the book Redefining University Leadership for the 21st Century could not come at a more opportune time. The ever-increasing tuition fees and ballooning student debts, bloated administrative costs and student dissatisfaction should sound alarm bells for the viability of universities. When technology and artificial intelligence make knowledge rapidly redundant, how can universities future-proof their graduates in this fast-changing world of the fourth industrial revolution and artificial intelligence
In this brilliantly insightful book, the authors pin-point the market failures and the management practices that have led to the erosion of public confidence in universities. They examine the consequences of market failures caused by the marketization of higher education: an oversupply of graduates, mismatch between qualifications and needed skills, student disillusionment, and the diminishing return on investments by students and their families. The marketable “excellence” of universities is artificially constructed on ranking metrics which neglect the core academic mission. Instead of serving the needs of society, they are focused primarily on achieving high ranks in league tables. Success in these rankings lulls them into a false sense of security and complacency. Poor management and bloated administration are major causes of high fees and student unaffordability. The crisis in college costs is eroding the democratic promise of higher education.
With local student demand flattening and graduate employability declining, some universities find themselves in financial stress. Escalating tuition, rising student debts, the unbundling of higher education services and the rapid advance of learning technologies mean that higher education is ripe for disruption. In their race to expand and pursue ranking excellence, universities have driven up costs and lost focus on their teaching mission. They are now unsustainably over-extended and unaffordable for much of the population. The commodification of higher education in the last century has made universities more vulnerable to disruptive competition. To read out more, please visit: https://ebooks.benthamscience.com/book-highlights/190104001/