What Higher Education Can Learn From the Banking Industry

Joshua Kim is the director of Learning and Technology for the Master of Health Care Delivery Science program at Dartmouth College.

Of all the blinders limiting our ability to increase productivity in higher education, it is our insularity that has the greatest potential to do harm. We tend to look for inspiration and lessons only from other institutions among our post-secondary peer group, while failing to see the relevant wisdom in information industries in adjacent sectors. 

How many people from the music, news, energy, and defense industries do we invite to our campuses to tell us how they have navigated the digitization and unbundling of the economy? How many professional conferences outside of education circles do we attend? How often do we schedule education conference keynotes from leaders outside of education, and ask them to draw connections between their experiences and the challenges we face in our industry? My answer to all these questions: not enough.

If I could pick any industry to mine for knowledge pertinent to higher education, I'd pick retail banking. My fascination with the banking sector was piqued by a recent Economist special report titled "Retail Renaissance" on international banking.

Like higher education, banking is both an information and service industry that is grappling with how to evolve in the face of growing consumer demands, increased global competition, and a rapidly changing technological environment. And like in higher education, in banking there has been the assumption that the spread of the Internet and mobile devices will eliminate the need for fixed residential branches. Online banking and online education also seem to share the potential to grow in tandem, providing services (financial and educational) to a new generation of wired and mobile consumers. 

The potential of online education and online banking to increase productivity in both sectors appears to be enormous. Traditional banking and higher education are ripe for disruption, as they are both high fixed-cost industries. The Economist article notes that  "for most big retail banks, renting, equipping, and staffing branches can easily account for 40-60 percent of their total operating costs, with computer systems making up most of the rest." A bank branch, like a campus, is expensive because its quality is a signifier to potential and existing customers. Nobody wants to put their money in a bank that does not look solid (or is easily robbed), just as nobody wants to send their kid to a college with a campus that fails to embody the timeless values of reflection and learning.

At least in banking, however, the physical branch has not "withered away." Again, from the Economist article: "In America, which is still the world's richest banking market, the number of branches and offices has risen by 22 percent since 2000, to almost 90,000." 

What has occurred in retail banking is not a substitution of online and mobile banking for residential services, but rather technology is proving to be complementary. Banking customers expect to be able to visit a physical branch and speak to a live teller or loan officer, but also expect to manage their accounts online and via a smart phone. We all want the security of the branch, but the convenience of 24/7 online financial services. Pure-play online banks that initially seemed so promising when they appeared in the early 2000s, (such as Wingspan, Citi f/i, NetBank, Egg) have either disappeared or been absorbed into traditional banks.

What can higher education learn from the experience of retail banking? The obvious lesson is that the physical campus is not going to disappear. Quite the opposite, we may find that there is room to emulate the banking sector and grow our campus footprint, but grow in a way that mimics financial services rather than the traditional quad-and-ivy campus. For instance, can we open up "mini campuses," or campuses attached to large retail spaces? A college campus has traditionally been a one-size-fits-all place: one campus for all learners. Perhaps we can follow the example of the financial services industry and open specialized campuses for specific segments of learners.

The other higher education lesson that I take from banking is the inevitability of consolidation. Over the past 10 years we have seen a significant roll-up in the banking sector, as only bigger banks can hope to provide both the in-person and technology-based services that customers demand. A high quality online and mobile presence is difficulty to achieve, and the push to evolve these platforms is intense. Small banks cannot spread these development and operational costs across enough customers, which is one of the reasons (among many) that we have seen rapid bank consolidation. 

In higher education we remain stubbornly atomized. It is frustratingly rare for us to share services or platforms across campuses, even between institutions in the same university system. It may be that rising costs (and therefore tuition prices) will force us to form partnerships to share common services (such as campus financials, student information systems, E-mail or document back-up), but we will certainly be years behind banking when it comes to consolidation.

What other lessons do you think that we in higher education can learn from trends in the banking sector? What industries would you nominate as holding essential lessons for higher education in the 21st century?

http://www.usnews.com/opinion/blogs/economic-intelligence/2012/09/07/higher-education-can-take-cues-from-banking-industry

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E-learning to shape future of education in India

Technology may be the magic cure India needs for the ills that plague its school education, executives from companies providing technology solutions for classrooms said in a discussion at the World Economic Forum’s India Economic Summit, 2012.

Education has a role to play in efforts of a country looking to transforming itself from a middle-income economy to a high-income one said the discussion’s moderator, Gordon Brown, United Nations special envoy for global education and the former Prime Minister of the UK. There is “no other important issue other than education in this country or globally,” he added.

And in India, said the executives, at least some significant education challenges can be met through technology.

Talking on integrating technology with classrooms, Peje P. M. Emilsson, chairman and chief executive Magnora, Sweden, which owns education institute, Kunskapsskolan said that “there needs to be proper interface between technology and teachers. Classrooms need disruption to innovate.”

Technology will also help address the issue of quality of instruction said another executive.

Use of technology and e-learning will allow high quality teachers to expand their reach,” said Naresh Gupta, managing director, Adobe Systems India.

Indeed, the panel agreed that “the future of education is online”.
Educomp Solution’s managing director Shantanu Prakash said his company’s virtual studios allow trainers to disseminate their training to rural centres and reaches out to 100,000 students who are studying accounting this way.

And with time, as the education system and curriculum changes, newer models may emerge, said Emilsson, pointing to Salman Khan’s Khan Academy, a not for profit educational organization.

http://www.livemint.com/Politics/36weqTdDufp9o2XCuiKfdO/Elearning-to-shape-future-of-education-in-India.html

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100 annual PM's Fellowship Scheme for doctoral research launched

 NEW DELHI: Union minister for science and technology, S Jaipal Reddy, launched the Prime Minister's Fellowship Scheme for doctoral research jointly promoted by Science and Engineering Research Board, department of science and technology, Government of India and Confederation of Indian Industry (CII) in Delhi during the Global Higher Education Summit on Thursday.

The number of fellowships awarded under the scheme would be 100 annually and the duration of fellowships would be four years. The areas of research would be science, technology, engineering, agriculture and medicine. The scholarship, co-sponsored by the government and industry will be given to PhD scholars for doing projects having practical relevance and industrial applications.

Reddy called up on the private sector to invest more in research and development (R&D) to shore up the competitive edge of the Indian industry. The engagement of the private sector into R&D would not match the global standards of twice of the public funded R&D when expressed in terms of spending as percentage of GDP, he added.

Reddy underscored the need for conversion of knowledge into products of commercial value to the industrial users. "Our industries need reliable source of modern technologies which could offer them intellectual properties with commercialisation potentials. While our public funded R&D systems are busy publishing papers, the industries are searching for technologies for commercialization," he said, hinting at the lack of co-ordination between the academia and industry.

Laying considerable importance for developing an eco-system that promote R&D and innovation, Reddy observed that educational institutions should attach equal emphasis on both understanding and applications of knowledge. Industries and enterprises, he said, dare to invest into breakthrough innovations and explore new markets in global economy.

Reddy observed that there were huge opportunities waiting to be tapped and converted into value for the country by bridging the disconnect between the knowledge and wealth creation sector. Pointing out that the current models of interactions between the knowledge institutions and industry are based on transactions, where exchange of money for knowledge was expected. But transactional interactions were not built on strong ties in India. "What we need is a relationship model built on sustainable relationships between our researchers and those practice technologies in manufacturing, agriculture and services sectors. This relationship should be built on the principle of trust and mutual respect for each other," he added.

Laying emphasis on grooming up a cadre of solution designers and discoverers, Reddy said that would help in finding solutions to problems, which have practical relevance. The new brand of R&D personnel with high morale and a desire should write a new history of research and innovations in industrial research, he added.

Calling for new schemes and R&D investments for shaping the future of India, the minister said that the theme for celebration of 100 th Indian Science Congress was Science for Shaping the Future of India. He hoped that during the centenary year of the congress newer ideations to align academia with industry and for developing scientific temper among the people would be ferreted out.

Dr T Ramasami, secretary, Department of Science and Technology, Government of India said that higher education in India deserves more focused attention. Comparing achievements of India and China in higher education, he said that while China is awarding, 20,000 PhDs every year, the tally in India is only 8,900. "The huge disparity should be addressed and corrective measures taken. Complimenting CII for launching PM's fellowship Program for Doctoral Research, he hoped it would be a beginning and a lot of ground has to be covered in promoting industry - academia connect in higher education."

http://timesofindia.indiatimes.com/home/education/news/100-annual-PMs-Fellowship-Scheme-for-doctoral-research-launched/articleshow/17145512.cms

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Right to Education Act may cover preschoolers too

Millions of parents and their children may soon no longer have to bear the risks associated with unregulated playschools with dubious teaching methods and crumbling infrastructure that often charge high fees but fail to deliver on promises. The human resource development (HRD) ministry,
headed by newly appointed MM Pallam Raju, on Thursday got state governments to agree to expand the Right to Education Act (RTE) to cover preschools. Under the plan, children between three and six years of age will be guaranteed preschool facilities.

Winning the support of states at the meeting of the Central Advisory Board of Education (Cabe) — where every state is represented — will help the HRD ministry push for expansion of the law. But the ministry, educators and education experts caution it would not be an easy task due to shortage of qualified teachers, poor infrastructure and a financial crunch.

The government has identified the RTE Act as a key accomplishment to highlight before the 2014 Lok Sabha elections.

The law currently covers children between six and 14 years old and may be also offered to 16-year-old students. But, this is unlikely to influence urban, middle-class voters - the constituency where the government has lost face due to scam allegations.

"That's where expanding the law to cover preschools could prove to be a game-changer," a senior government official said.

Although India has 159 million under-six children, who either are in or can soon join preschool, this massive segment under the Indian education system is almost completely unregulated.

Lack of regulations has allowed several substandard playschools and preschools to flourish across the country's cities, feeding on the anxiety of working parents to ensure that their children start learning early in an increasingly competitive environment. Many parents suffer bitter experiences with preschools that sometimes fall short even on safety issues.

Rahul Prasad had to pull his three-year-old son, Aayush, out of a Delhi playschool in August after he found that it was using dirty utensils and metal toys with rusted and sharp edges frequently without supervisors, while charging Rs. 10,000 a month.

Apart from free preschooling for every child, the extended RTE Act plans to ensure a safe environment, minimum teaching and infrastructure standards and a ban on homework for toddlers.

"I wish the act could already help Aayush," Prasad said. "But it'll help a lot of people like me. It's about time."

http://www.hindustantimes.com/India-news/NewDelhi/Right-to-Education-Act-may-cover-preschoolers-too/Article1-956988.aspx

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Leading Woman Entrepreneur & Industrialist Sushma Berlia Felicitated by CII

Report by India Education bureau, New Delhi: The Confederation of Indian Industries (CII) today felicitated Sushma Berlia, a leading woman entrepreneur, President of the Apeejay Stya & Svrán Group and Chancellor of Apeejay Stya University for her outstanding contribution to academia and industry at the AICTE-CII University-Industry Congress 2012 & 4th Global Higher Education Summit.

Mr. Sunil Kant Munjal, Past President, CII & Chairman, CII National Committee on Economic Policy and, Hero Corporate Service Ltd, presented the honor to Mrs. Sushma Berlia and appreciated her contribution towards development of education sector in the country.

Acknowledging the honor presented to her by CII and emphasizing on the need of structural reforms in the higher education system of the country, Mrs. Berlia said, “Despite the tremendous growth in the number of universities and colleges, the gross enrolment ratio, or GER, still remains at an abysmal 16%, which is much below the world average of 27%. The higher education sector in India is still not producing enough skilled, educated, trained and employable graduates. Being in industry gave me insights into the acute disconnect between the graduates being produced by our universities and the challenges of employability in terms of their industry-readiness, ability to think and analyze critically, to learn for life, and to work collaboratively in teams. As Nobel Laureate playwright and one of the greatest poets of the twentieth century, William Butler Yeats, said – Education is not the filling of the bucket, but the lighting of a fire. I would like to congratulate CII for taking this initiative of reforms on a sustainable basis, and keeping that flame of education alive.”

She attributed her achievements to her father and mentor Dr. Stya Paul, eminent industrialist, educationist and philanthropist, who established Apeejay Education Society over four and half decades back as a way of giving back to society. Contributing to society, particularly through education, is something that has now become an engrained passion in her life.
Speaking about need to reform the regulations in education, Mrs. Berlia said, “Admissions, courses, programs or geographical jurisdictions should not be the criteria for regulation. Instead, the need of the day is to regulate the adequacy of infrastructure, faculty, quality of teaching facilities, and governance. Instead of one monolithic body, there should be three separate groups to manage regulation, accreditation and financing respectively. Independent testing agencies that do not require a coaching format should also be encouraged to create a level-playing field for the students.”

It is for the first time that CII has felicitated and recognized the contribution of an industrialist to the development of education services in India. A well known Educationist and Industrialist, Mrs. Sushma Berlia has been working towards the cause of education, skill development and women empowerment and has played a leading role in helping formulate policies for educational reforms and industry. Many of her recommendations on issues of access, equity & inclusive education, industry-academia linkages, skill development and implementable solutions for funding of higher education have been well-appreciated and accepted by the government and regulatory bodies. She was the first-ever woman to head a multi-state apex chamber in India. Mrs. Berlia is a Governing Body Member of the National Board of Accreditation. She has also served as the Chairperson, Board of Governors of the NIT, Jalandhar, and as Member of the Board of Governors of IIT-Roorkee.

Sushma Berlia was awarded the PHD Chamber Outstanding Businesswomen Award 2008 at the PHD Chamber Annual Awards for Excellence for her achievements as a leading woman entrepreneur and industrialist. She has also been conferred the ‘International Lifetime Achievement Award’ by International Congress of Women 2009 in Collaboration with the Govt. of India and the UN Information Centre for India and Bhutan.

http://indiaeducationdiary.in/Shownews.asp?newsid=16775

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Student housing sector now worth $200 bn globally

Survey says China, India, Vietnam trigger demand for higher education, better housing options in destination countriesSurvey says China, India, Vietnam trigger demand for higher education, better housing options in destination countries

Globally, the student housing market as a whole is estimated to be worth in excess of $200 billion, with study-abroad student numbers expected to increase from around 165 million today to 263 million by 2025. Market transaction volumes worldwide for the year ending June 2012 were $4.7 billion, with more assets trading above $50 million, showing healthy investor appetite for this asset class, according to real estate services firm Jones Lang LaSalle's new global student housing report.

“Strong economic growth in the key Asian markets has fuelled higher education enrolments globally. Over the past decade, countries like China, India and Vietnam have experienced rapid growth in the wealthier middle class, which has spurred demand for higher education and better housing options in destination countries,” Philip Hillman, lead director (student housing and higher education), Jones Lang LaSalle, said in a release on Thursday.

The increasing number of students from Asia choosing to study outside of their home country has played a key role in developing the student housing sector into a global real estate asset class.


In recent years, Asia has increased its market share as a source market for international students from 48% in 2004 to 52% in 2009. In fact, the top five source markets globally are China, India and South Korea, followed by Germany and France in fourth and fifth. On the flip side, the most popular destinations for these students are the US, the UK, Australia, Germany and France, according to the report.

“Student housing is one of the most vibrant Indian real estate markets in the foreseeable future,” said Anuj Puri, chairman and country head, Jones Lang LaSalle India. “Dense student populations that exist around prominent colleges positively affect the demand for residential spaces as well as restaurants and small retail spaces. As such, educational institution lend value to a location.”

Stating that the future of this sector in India, in fact is extremely promising, Puri said the country’s top 10-15 corporate schools had plans to develop a total of 800–1,000 schools over the next decade, aiming to deliver quality education to far-flung parts of the country.

“The corporate higher education industry is expected to build close to 10 million sft of educational institution space over the next few years, and this not includes the rapid expansion plans that are underway to build new IITs and IIMs and other reputed educational institutions. The demand for the right kind of student housing that such a scenario presents can well be imagined,” he added.

http://business-standard.com/india/news/student-housing-sector-now-worth-200-bn-globally/195067/on

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Education best antidote for violence, inequality: Pranab

 Education is the best antidote for violence, intolerance and inequality, President Pranab Mukherjee said here today.

After laying foundation stone for two separate hostels of tribal students in one of the worst Naxal-hit districts of Chhattisgarh, he said faith in humanity must be restored in the minds of youths so that the country can find its rightful place in the world.

"Education-embedded in values of peace, tolerance and humanity, which is at the same time relevant to society and the economy-is the best antidote for violence, intolerance and inequality.

"The time to act, my young friends, is now. Do not miss opportunities which come your way," he said in his address after visiting the Ramakrishna Ashram here.

Mukherjee urged the youths to work for development of the society.

"The country is growing. Today we don't get doctors in villages. We have hospitals and buildings there. But they do not want to go there. 70 per cent of our population lives in village. There are over six lakh villages. Unless the feeling to work for the society or the country doesn't come from within, nobody will like to go there," he said.

Mukherjee reminisced as to how he earned a post graduate degree by paying Rs 268 as total fee for a two-year course in Kolkata.

"Today people are becoming IIT engineers, IIM graduates. They do not want to work in villages. I feel the government should collect taxes and develop more institutes like IITs and IIMs so that people can acquire required skills," he said in his address in Hindi amid clapping from the audience which comprised a number of tribals. (MORE)

http://www.business-standard.com/generalnews/news/education-best-antidote-for-violence-inequality-pranab/77114/

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Recent Reforms to Pave Way for More Jobs for Indian Designers: Anand Sharma

Report by India Education bureau, New Delhi: The Union Minister for Commerce, Industry and Textiles, Shri Anand Sharma has said that with the recent policy initiatives and arrival of brands like Zara, Louis Vuitton, Gucci, Jimmy Choo, new flavours will be added to the Indian luxury market which will not only give consumers a better choice but also throw open a plethora of opportunities for our young designers for better industry placement in top notch international MNCs.

Speaking as the Guest of Honour at the Convocation of the National Institute of Fashion Technology (NIFT), at Rae Bareli today, Shri Sharma exhorted the young fashion designers to strive for gaining credibility for Indian brands made by Indian people. The UPA Chairperson Smt. Sonia Gandhi was the Chief Guest at Convocation Ceremony and gave away the degrees to 59 new graduates. This was second batch passing out of the institute. She also laid the foundation of the New Building for NIFT Rae Bareli.

Shri Sharma said that the government is committed to invest in the institution building and invest in the young generation. He expressed hope that the young designers will enrich the traditional Indian textiles and will work in close contact with the traditional artisans. “New technology has created new stresses for the traditional artisans, there is need to create new opportunities for them,” said Shri Sharma.

Smt. Sonia Gandhi praised the social outreach programme conducted by the institute for the traditional handloom weavers and expressed hope that the young fashion designer will create their own idioms of Indian beauty and identity in the designs of 21st century. Striking a personal note, Smt. Gandhi recalled that the NIFT was conceived during the tenure of Prime Minister Shri Rajiv Gandhi and remembered the personal initiative of the late Prime Minister for the establishment of the institution. Continuing on the personal note, Smt. Sonia Gandhi said that current designers should revisit the appeal of simplicity as some of the recent trends have succumbed to the temptation of over embellishment. “Fashion does not mean opulence. Prime Minister Indira Gandhi had an innate sense of fashion and simplicity and her elegance was admired all over the world.”

Secretary Textiles Smt. Kiran Dhingra, President NIFT, Shri Venu Srinivasan also addressed the gathering. Director NIFT Rae Bareli Dr. A K Khare presented the academic report and DG NIFT Shri P K Gera was also present.

Earlier in the day, Smt. Gandhi and Shri Sharma visited the Rae Bareli campus of the Footwear Design and Development Institute and interacted with the faculty and students. She also visited coach factory at Lalganj and waived green flag for the release of new modern coaches. She also laid foundation for the doubling of railway line from Uttaratiya to Rae Bareli. She also distributed job cards for one member of the families who gave land for the project.

http://indiaeducationdiary.in/Shownews.asp?newsid=16747

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Germany woos students with cheap and quality education

THIRUVANANTHAPURAM: The German Academic Exchange Service (known as DAAD), an autonomous body working under the auspices of the German government, organized a seminar on the possibilities of higher studies for Indian students in Germany at the Goethe-Zentrum in the city on Wednesday.

Currently, there are around three lakh international students studying or doing research in Germany.

"After the United States, Germany is ranked as the most-preferred destination by Indian students and research fellows," said Goethe-Zentrum, Thiruvananthapuram, director Syed Ibrahim.

Since German universities do not organize commercial admission drives, students were given handbooks that give more information on the different varsities in Germany. More than 150 students from different colleges and other educational institutions in the city attended the seminar.

"The universities prefer to admit students who are either pursuing their bachelors, MS or doctorate studies. The education is free and the students can live with just 450-600 euros for their other expenses and food," said Ibrahim.

Shilpa Pandeswhar, information officer of DAAD from Bangalore, who conducted the seminar, explained in detail the educational system at the German universities, with particular thrust on the highly-respected technical universities in nine major cities.

German universities do not take any fees for the courses, except for the two federal states where the students have to pay a semester fee of 500 euros, approximately Rs 35,000. With the introduction of the 'blue card', Germany now permits non-EU students to seek employment in Germany and settle down there.

After completing studies or research, students are now allowed to stay in Germany for 18 months to find a suitable job. This has made Germany an attractive destination for study and work, said Pandeshwar.

http://timesofindia.indiatimes.com/city/thiruvananthapuram/Germany-woos-students-with-cheap-and-quality-education/articleshow/17137263.cms

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Strengthen Indian higher education sector: Experts

MANGALORE: The statement of Union minister of state for human resource development Shashi Tharoor regarding the quality of graduates in India and plans of inviting foreign universities to India evoked mixed response from experts in the coastal education hub. Mangalore University vice-chancellor T C Shivashankara Murthy told TOI that strengthening higher education sector in India is the best solution to improve the quality of graduates produced here. "It is the duty of the government to improve the quality of institutions in India. We have several reputed universities and institutions including IISC, IITs, IIITs, IIMs, IIS and NITs.

However, we produce very few graduates here. Hence, it is the duty of the government to provide sufficient infrastructure to increase the number of graduates here," Murthy said.Even if foreign universities are allowed to open campuses here, how many students can afford to study there, he asked. "One thing is sure that entry of foreign universities will give stiff competition to Indian universities," he added.Association of Mangalore University College Teachers former president Joselyn T Lobo said the all India body of college teachers has already opposed the move inviting foreign universities to India.

"Entry of foreign universities will commercialize the education sector in India. Their main goal will be to earn profit through selling education. Earlier, education was considered as a part of philanthropy. Organizations and institutions were opening schools and colleges with an objective of giving education to all without expecting any profit. However, the scenario has been changed and the arrival of foreign universities will worsen the situation," Joselyn said. ABVP state secretary K Ramesh said the government should think of improving the quality of education in the existing universities in India, instead of thinking of introducing foreign universities.

http://articles.timesofindia.indiatimes.com/2012-11-07/mangalore/34972494_1_foreign-universities-indian-universities-education-sector

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