Many do not often realize that education is a business, even for non-profit universities. Attracting appropriate students and planning ahead financial are vital in a competitive industry with many different competing substitutes.
Executive Education has received attention for universities for a multitude of reasons, such as those programs’ ability to attract profitable older students. In planning for the future, education institutions often consider the following in attracting students, building endowments, expanding facilities and maintaining revenues:
- Does it tick all of the “factors of importance” in decision-making around executive education choices [and is the relative importance of these factors changing]?
- Does it meet the development needs of participants, their line managers/HR [also understanding how those needs have changed in the economic downturn]?
- Its perceived points of differentiation benefits versus the range of alternative options available for management development [particularly in the context of emerging shorter, modular and on-line programs].
- The actual benefits it delivers in terms of customer satisfaction and improved management performance.
At SIS International, we have 25 years’ expertise conducting comprehensive education market research for education institutions to provide them with actionable research for decision-making, marketing planning and strategic planning.