Resolving the Crisis in Higher Education

John “Jack” Hampton is a professor at St. Peter’s University and a former dean of the schools of business at Seton Hall and Connecticut State universities. He is the author of multiple enterprise risk management books with the American Management Association and a series of higher education books with Rowman & Littlefield.

List of Figures

Preface

Chapter 1. Do Liberal Arts Colleges Have Viable Business Models? Even More Important, Why Do They Need Them?

The Liberal Arts

Liberal Arts Foundation

Disagreement on Achieving the Outcomes

Comparing a Liberal Arts Lecture and a Typewriter

Mission, Vision, and Values Statements

Key Terms

A Simple Business Model and Value Chain

Business Model for a University

Value Chain for a Calligraphy Degree

Faculty View of a Value Chain

Administrator View of a Value Chain

Chapter 2. What is the Risk of a Faulty Business Model? Do Professors and Administrators Need to Work Together to Get it Right?

Strategy and Tactics

Strategic Purpose

Components of a Value Chain

Design Thinking is Recommended

Issues When Developing a Value Chain

Three Determinants of Value

Risk Factors in Value Chains

Market Insights in Value Chains

Strategies of a Business Model

Customer-based Business Model

Chapter 3. Does Your University Know about Enterprise Risk Management (ERM)? Or Will Risks Simply Take Care of Themselves?

Enterprise Risk Management

Business Risk

Addressing Business Risk

Questions about ERM

Categorizing Risk

Chapter 4. Why is Managing the Business Model Similar to Climbing Mount Everest? Are We Sure We Know What We’re Doing as We Face Risk in the Immediate Future?

Would you Consider Climbing Mount Everest?

Should a University Accept the Risks of Changing its Business Model?

The Risk Picture for Universities

Evaluating Risk

Managing Risk in the Business Model

Institutional Category

Financial Health

Chapter 5. How Does a University Revise its Business Model? Are We Getting into the World of Business Continuity Planning?

Business Continuity

Business Continuity Planning (BCP) Task Force

Bureaucratic Team

Innovative Team

Chapter 6. Where Does the Liberal Arts Fit in a Sustainable Value Chain for a University? Does Anybody Really Care about Shakespeare?

A Focus On Our Students

What Do Our Students Want?

What Do Our Students Need?

Does the Traditional College Model Support Critical Thinking?

Liberal Arts Core Outcomes

Bachelor Degree Outcomes

Liberal Arts Core Courses

Chapter 7. Business Continuity Planning (BCP) on a Liberal Arts Foundation: What Do We Have to Consider? What Do We Have to Change?

Business Model and Philosophy

Value Chain Analysis—Student Component

What Factors Shape Student Choices of Colleges?

What Factors Motivate Students to Attend College?

Academic Motives for Attending College

Chapter 8. Let’s Build a Modern Curriculum on a Liberal Arts Foundation: Hey, This Is A Program that Really Meets My Needs

Curriculum Design

Design of a College Program

College Course Formats

Flexible Formats of Courses

Evaluation of Student Performance

Chapter 9. Let’s Build our Own Undergraduate Degree on a Liberal Arts Foundation: If We Design and Offer the Right Products, Will They Come?

A Unique College Experience

Recruiting Message

Admission Requirement

Graduation Flexibility

Course Formats

Competitive Tuition

Course Schedule

Courses and Curriculums

Bachelor’s Degree in Liberal Arts or Business Administration

Two Bachelor’s Degrees

Transfer Students

Flexible Formats and Grading for Courses

Chapter 10. Authority, Responsibility, and Accountability in Business Continuity Planning: Who Should Be Responsible for What?

Curriculum Discussions

Board of Trustees Responsibilities

Responsibilities of the University Officers

BS in Liberal Arts Major

Information Acquisition 101

Cause and Effect 101

Interpretation of Written Meaning 101

Numerical Literacy 101

Personal Perspectives 101

Visual Language 101

Thinking in Time 101

Argumentation 101

Business Administration Major Outcomes

Business Continuity Plan for the MBA

MBA Course Formats

MBA Marketing Effort

Chapter 11. End of the Journey: What Would Happen if No One Listens to the Crisis in Higher Education?

Framework of Risk and Uncertainty

Evaluating Business Continuity Efforts

A Final Thought