Corporate Universities are not a creation of the 21st century. In fact, these are here in the market for at least four decades back, and have been helping larger corporations and enterprises in bringing loyalty, common culture and belonging. Furthermore, these are the most valuable asset to a company since these let the companies to train and educate their employees, so that they are able to get the most out of the investment, boost the progress made by the company while weakening the competition in the market.
Starting up a corporate university for a brand may surely seem to be an attractive idea, but it needs a lot of man as well as cash power along with plan and a corporate university model. Although, all other terms might feel obvious, but what this corporate university model is and what are the factors that lead to the formation of such universities and is the main thing that concerns most of the business owners who are planning to put their idea of corporate university into reality. So, to help such brand owners, this post is something that is really considerable.
Corporate University Model Defined
As its name suggests, this model lets the business to centralize its training programs to its employees, which can be job specific or even company specific. The main thing that characterizes it from other models is that, the client group included in it is not limited to just manager and employees, but stake holders also, like outside the company including universities, community colleges and even schools, etc. Furthermore, it is also true that the programs offered by this model, for the purpose of training, are wider and cover much more in-depth detail than rest of the other models.
Pre-requisites for Corporate University Model
- Being a Research Giant
Corporate universities are supposed to attract larger corporations to base a large part of their operations and investments close to it and that’s what makes it an elite institution for research and prerequisite. This also allows corporations to guide and fund the research that is led by students and faculty of the university and to keep them fine-tuned in terms of the demands of the market.
All this scenario attracts even more companies to this corporate university model and thus, ultimately leading to even more chances of success for students and fresh graduates, who plan to look for a job after completing the education. But in contrary, there are also chances that the same students might start companies of their own, which one day becomes the main competitor of the existing companies. Once a sufficient number of brands enter the local economy, it starts flourishing at a tremendous rate. The economic activities rise immensely at an amazing rate, which lead to a high number of positive spillover effects. In short, the entire areas able to reap the benefits of improved economic conditions.
Privatizing the university operations, which are far from affecting the education process running within the university, is the next and one of the most important steps towards a successful corporate university model. And what it all requires is a sensible evolution in terms of the decisions that save the money of the corporation by privatization, led by perceptive planning. Most of the time, it’s a good idea to privatize something that can help in reduction of the costs that corporation’s budget is facing. It can be parking facilities, matters involving security, food services, construction, custodial services or anything like that until it keeps the education purposes intact.
In short, what you have to do is just to try and freed the university from contracting and negotiating with union labor. Hundreds of the ways are out there that you can take advantage of for the purpose of lightening the burden that the university is keeping on its shoulders, but always keep in mind that privatizing should be done after a lot consideration. For example, it’s not a wise idea to privatize public campuses, housing and many other things.
- Housing Extraordinary Leadership
It is quite a pretty obvious thing that it is the stronger leaderships that give an entity the courage to fight against and in the tough market and competitors. The same goes for corporate university model. Probably universities hire well experienced and educated people for this purpose, who charge very high amount of money. They people also have great leadership and research skills, which helps universities and business organization to grow and establish well in the market and to give enough competition.
Corporate universities are meant to run on the basis of the model based on the idea of privately funded public universities at a larger scale. A corporate university’s most valuable assets are its students in the form of future businessmen, scientists, engineers with innovative minds, and after that its administrative body comes, which consists of leaders. They people play a vital role in the success and innovations of new ideas. These are the factors that act as the prerequisite conditions for which a corporation needs to take time and ponder upon before it comes to the final conclusion of starting work on the corporate university model and paves up its way to destruction even before it steps out in the world.