Overview

In Capitalizing on College Joshua Brown skillfully illustrates how tuition-driven colleges and universities have been forced to innovate and adopt market-driven financial strategies. These institutions have longstanding commitments to offering access and opportunity to marginalized students, but the promise of improved educational outcomes stemming from federal policy changes aimed at increasing market competition never materialized. Instead, as a result of demographic shifts and the privatization of higher education, competition for tuition dollars meant these colleges had to adopt new strategies to find more students in new, uncharted peripheral markets to offset losses stemming from their legitimizing residential campus experience. Capitalizing on College reveals how three of the strategies these schools adopted--growing a traditional endowment, pioneering a periphery market, or even creating a network of multiple markets--were initially successful but ultimately fell short in raising enough revenue to support operating a residential campus. Only a fourth accelerated strategy of going to scale raised the necessary funds--but at the cost of undercutting their mission by leading them to view students as dollars.Through a vivid and compelling narrative that weaves together candid interviews with over 150 university leaders, Capitalizing on College reveals the untold story of the missing middle--what market competition has wrought on higher education from the inside vantage point of the colleges themselves. It shows how the unanticipated consequences of federal policy changes have ultimately distorted the values of mission-driven schools. Capitalizing on College offers a timely and fascinating behind-the-scenes look at the changes shaking higher education and what the future holds for colleges and universities in this new financial climate

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9780197780718

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Reviews

“At a time of growing mistrust in the academy and burgeoning skepticism around the value of a college degree, Brown crafts a narrative that foregrounds untold stories of innovation and impact on college campuses. He brings needed clarity to the fundamental purposes of American higher education, showcasing the importance of strategic leaders whose commitment to access, equity, and excellence for all students transcends both the constraints of exigent financial circumstances and emerging threats to the mission, vision, and values foundational to our nation's diverse colleges and universities.” Lynn Pasquerella, President, American Association of Colleges and Universities “Capitalizing on College is a must-read for scholars of organizations and education, as well as anyone employed in the US higher education sector. Brown offers a chilling account of the changing logics confronting colleges and universities that rely on tuition to function, and describes the strategies employed by administrators to keep the lights on when faced with declining tuition revenues. The attention to the sociopolitical and historical shifts in the US higher education sector allows the reader to better understand crises in higher education and current debates around topics like loan forgiveness. The book is masterfully written and offers vivid portrayals of the administrators responsible for developing new business models, finding new student segments, and generating novel sources of revenue.” Sarah A. Soule, The Morgridge Professor of Organizational Behavior, Sara Miller McCune Director of the Center for Advanced Study in the Behavioral Sciences, Stanford University “Like the Red Queen in Alice in Wonderland, schools without substantial endowments must run faster just to stay in the same place. Capitalizing on College identifies strategies colleges and universities have used to try to get off this treadmill. In an environment where every school aims to establish a competitive advantage, this book is essential reading for any university administrator.” Jay Barney, Presidential Professor of Strategic Management, Lassonde Chair of Social Entrepreneurship, Eccles School of Business, The University of Utah “Higher education is one of the few institutions in American society seen as a cornerstone for economic prosperity. In an era where students, employers, and public policy leaders alike are demanding schools deliver on this promise, great leadership and entrepreneurial nimbleness are needed now more than ever. Brown's book, which includes road-tested insights from a diverse group of higher education leaders, provides a path forward.” Gerard Robinson, Professor of Practice in Public Policy and Law, University of Virginia, Former Secretary of Education for Virginia “In tackling the most pressing topics in contemporary higher education, Brown has done the essential and the unusual: rather than prescribe 'solutions' from the vantage of elites, he has instead talked with a wide range of college and university leaders to understand the nuances and complexities of decision making in our market-driven institutions. His awareness of the important role of mission-driven institutions in the higher education landscape is welcome, and his analysis is trenchant and insightful. This book is essential reading for those who care about higher education as an avenue to opportunity and transformation for our students, and indeed for our society.” Mary B. Marcy, President Emerita, Dominican University of California, Author, The Small College Imperative At a time of growing mistrust in the academy and burgeoning skepticism around the value of a college degree, Brown crafts a narrative that foregrounds untold stories of innovation and impact on college campuses. He brings needed clarity to the fundamental purposes of American higher education, showcasing the importance of strategic leaders whose commitment to access, equity, and excellence for all students transcends both the constraints of exigent financial circumstances and emerging threats to the mission, vision, and values foundational to our nation's diverse colleges and universities. * Lynn Pasquerella, President, American Association of Colleges and Universities * Like the Red Queen in Alice in Wonderland, schools without substantial endowments must run faster just to stay in the same place. Capitalizing on College identifies strategies colleges and universities have used to try to get off this treadmill. In an environment where every school aims to establish a competitive advantage, this book is essential reading for any university administrator. * Jay Barney, Presidential Professor of Strategic Management, Lassonde Chair of Social Entrepreneurship, Eccles School of Business, The University of Utah * Higher education is one of the few institutions in American society seen as a cornerstone for economic prosperity. In an era where students, employers, and public policy leaders alike are demanding schools deliver on this promise, great leadership and entrepreneurial nimbleness are needed now more than ever. Brown's book, which includes road-tested insights from a diverse group of higher education leaders, provides a path forward. * Gerard Robinson, Professor of Practice in Public Policy and Law, University of Virginia, Former Secretary of Education for Virginia * In tackling the most pressing topics in contemporary higher education, Brown has done the essential and the unusual: rather than prescribe 'solutions' from the vantage of elites, he has instead talked with a wide range of college and university leaders to understand the nuances and complexities of decision making in our market-driven institutions. His awareness of the important role of mission-driven institutions in the higher education landscape is welcome, and his analysis is trenchant and insightful. This book is essential reading for those who care about higher education as an avenue to opportunity and transformation for our students, and indeed for our society. * Mary B. Marcy, President Emerita, Dominican University of California, author, The Small College Imperative *

Author Information

Joshua Travis Brown is an Assistant Professor of Entrepreneurial Leadership in Education at Johns Hopkins University and Fellow at the Center for Skills, Knowledge, and Organizational Performance (SKOPE) at the University of Oxford. His research is positioned at the intersection of public policy and organizational theory and examines how economic policies have incentivized colleges and universities with limited resources to pursue margins in new markets at the expense of their educational missions. His work has been featured and discussed in The Wall Street Journal, NPR, USA Today, and The Chronicle of Higher Education.

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