Can the universities of today lead learning for tomorrow? The University of the Future

Does higher education need a new paradigm to serve Australia’s needs in the Transformative Age?

Global forces impacting the university sector • University of the Future Rise of continuous learning Increasing international competition Evolving digital behaviour Blurring industry boundaries Changing world of work Five transformative external forces are driving change in higher education

New stakeholder demands are redefining the purpose of universities Employers Researchers Administrators Learners Academics Industry Learning Research New stakeholder demands are redefining the purpose of universities University Learners Government Parents Other educational institutions Federal government Alumni Community State government Cities

How do universities create value? Who are our future customers? What are the jobs to be done for customers? What products/services are we providing? How do customers get our services? The university business model is being disrupted, creating new opportunities and challenges How do universities deliver value? How do we produce it? How do we distribute it? How do we support it? Who are our key partners and suppliers? How do universities capture value? What are our major investments? What is our revenue model?

Unbundled courses Bundled degrees Hands-on Hands-off Shifting role of government Evolving learner preferences Two critical uncertainties drive a range of possible outcomes for the sector

Unbundled courses Bundled degrees Scenario 1 Champion University Scenario 2 Commercial University Scenario 3 Disruptor University Scenario 4 Virtual University Hands-on Hands-off Government role Learner preferences Four scenarios for 2030 can help to stress test higher education strategies

Scenario 1 Champion University Hands on government actively champions and funds universities as strategic national assets Majority of learners are in traditional undergraduate and graduate degree programs Universities streamline operations by transforming administration Higher education remains distinct from vocational and education training “Just for knowledge” learning

Commercial University Scenario 2 Commercial University Hands off government requires universities to be financially independent University sector is deregulated and more diverse Learners favour degree programs with work-integrated learning Universities draw closer to industry for teaching, researching and funding “Just for work” learning

Scenario 3 Disruptor University Hands-off government deregulates the sector to drive competition and efficiency Continuous learners outnumber traditional degree seeking students Universities are more focused and more nimble Degrees are unbundled into micro- certificates Majority of learning content is delivered online “Just for you” learning

Scenario 4 Virtual University Government integrates higher education and vocational education and training sectors Jobs begin to be replaced by technology Learning and employability outcomes are priorities Continuous learners are the majority and prefer unbundled courses delivered online “Just in time” learning Scenario 4 Virtual University

1 2 3 4 5 There are common themes across all scenarios Student centricity Physical campus and digitisation Policy settings adjusted to drive innovation Industry integration Reimagine the future product set There are common themes across all scenarios

1 4 2 3 Four priorities for action … Make the shift from being faculty focused to learner centric Integrate with industry to co-create and collaborate 4 2 Four priorities for action … 3 Experiment with unbundling degree programs and deconstructing the value chain Reimagine the physical campus for a digital world

Products Markets University of today existing New Existing New University of tomorrow $ … including “double transformation”: repositioning today’s university while inventing tomorrow’s university Universities need to invest in building the university of tomorrow while balancing the continued investment in running the university of today.

A well-managed education system becomes Australia’s competitive advantage Universities face an existential challenge and everyone – from government to industry to learners themselves – have roles to play in shaping a sustainable, globally competitive higher education sector

What are the next steps for your university?