College is a business. The tweed-jacketed faculty may not like to admit it, but it is. And it’s outdated. Bloated employee counts, endless facility expansion, and a cost structure that keeps climbing have been financed by government-backed student debt. But that’s all changing and Covid-19 hastened the pace. As higher learning moves online, the price — and prestige — of college comes down. Add in the reality of decreasing demand due to demographics and the struggle to differentiate and you have a business facing extinction. Bill Guerrero, VP for Finance and Administration at Ithaca College joins me to discuss the business of higher education. Plenty of university-level lessons for your business in this episode!
