Is it Time to Launch that New Academic Program? The Art and Science of Answering that Question
Related Articles: Feasibility Checklist: The Science of Bringing New Academic Programs to LifeFinancial Modeling for New Academic Programs The challenges facing higher education in recent times are well documented. Never has it been so critical for colleges and universities to adopt an entrepreneurial mindset. Especially for resource-constrained institutions (which is most of us), traditional financial management approaches such as resource prioritization and/or cutting one’s way to sustainability are no longer sufficient long term solutions. In this current context, successful institutions are outward-looking and have developed a discipline around driving entrepreneurial growth in ways that live and further leverage the mission. This is what having an entrepreneurial mindset is all about; from my experience, nurturing such a mindset at the institutional level requires both art (intuition, active listening, and keen attention to opportunities) and science (rigorous discipline and process). I consider myself an academic entrepreneur. Throughout my career in higher education, I have been focused on looking outward and asking key questions such as “How can we do this differently?”; “What do we do really well that might be leveraged in new and unique ways?”; and “What market opportunities exist that we are uniquely equipped to meet?” At Bay Path University […]

