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Ernst&Young. University of the future: A thousand year old industry on the cusp of profound change. Author, Sydney, 2012. Pages: 32.
This report presents a study on current trends impacting the higher education industry and their potential consequences, both in terms of opportunities and challenges, for Australian universities. The authors propose that the current dominant model of Australian universities will become, for the most part, unviable for the majority of universities over the next 10-15 years. Factors driving global change, which will also influence universities, are identified: democratisation of knowledge and access; contestability of markets and funding; digital technologies; global mobility; and integration with industry. In order to succeed, universities will have to deal with these factors and change their business model. The authors also sketch three broad lines of evolution for universities’ business models: ‘streamlined status quo’, ‘niche dominators’ and ‘transformers’.