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VC ’ s corner
we focus on the 20 per cent of courses that generate 80 per cent of income , and we all know that . We all came through the public higher education system . We understand how higher education works .
The principle point here is that all these considerations in terms of facilitating growth and providing quality education is based on the fact that we ’ re a university . We have to meet the same regulatory requirements . We have to meet the same expectations from society , from industry , in terms of our graduates , and all those dimensions must meet the requirements . So , we consistently looked at how we could differentiate our services : how do we use , at that stage , the Laureate relationships that we had across the world , and how do we bank on that to ensure the positive learning points we could take from that ? How can we share infrastructure , how can we develop partnerships and how do we leapfrog in terms of the development opportunities ?
That enabled us to move faster than many other institutions . So , the opportunity for us then in Australia was – where should we focus our programs , where should we specifically focus our mode of delivery , and how should we find the balance between onshore and offshore delivery ?
Our focus remains very much on making sure that we have that level of flexibility : for example , our hybrid delivery model which we deliver very much in a blended mode , focusing on synchronous and asynchronous delivery , onshore and offshore . In other words , we need to make sure that we find the global market .
In all respects , Torrens is well established . We have recognition . We consider it to be very important that we ’ re one of the top 20 global online MBA qualifications . We are a number one hotel management school in Asia Pacific . We have a strong research base which demands credibility and recognition already after a short period of time , a growing cohort of PhD students , and we were the first higher education institution in 10 years to introduce a new nursing degree .
We ’ re not getting in there and trying to survive . We moved into this space very much with the idea of an entrepreneurial , innovative perspective and considering the requirements of effective higher education , while at the same time acknowledging the fact that the perspective on higher education should move away from an isolated institution into an institution in partnership with society to take coresponsibility for future development .
In what ways would you say that the strategy of Torrens is differentiated from publicly funded universities , and in what ways is it , or will it , operate more fully under a different business model from others in the future ? This is an exciting discussion because we are self-funding , so we must make sure that we take full responsibility for our viability and sustainability – not only about the business , but it ’ s about all those thousands of graduates that move through the system . They need to have the confidence that this institution will still be here for their children and grandchildren , and that we will be in a position where our qualifications will always have credibility because this institution is continuing to deliver quality education . Those things are fundamental for us .
When I left public higher education to go to private higher education , one of the questions asked of me was : what will you miss most ? I said , ‘ Probably that cheque that is coming .’ So , we need to understand
We moved into this space very much with the idea of an entrepreneurial , innovative perspective .
that we have to design our business model differently .
We ’ re very sensitive in terms of strategy : what does our strategy look like , and what are the key drivers that we interpret to guide our strategy ? But what ’ s the message ? What ’ s the value proposition ? The value proposition that we bring as a higher education institution is an entrepreneurial institution continuously innovating to deliver quality learning experiences that are relevant and will ensure economic and social mobility , based on employability and creating an active partnership in society . These principles are fundamentally important to us .
So , our business model may look different from others because we have different business drivers that we have to meet . The critical issue , however , is that having this different business model doesn ’ t mean that we do not form part of the higher education sector , and we want to be an integral part of that process . Why ? Because higher education is a common good , and we have to make sure that we align with the national strategy . We have to ensure that we align within the sector and develop the sector as a system , and not only develop ourselves at all cost .
The Torrens model of governance and ownership are quite different . Have they allowed you to transform during the times of change that we ’ re going through , and to do so more readily than other institutions ? Effective decision-making based on clear strategic direction and opportunity as a young institution is important to us , as is the fact that we have to be agile , that we have to move fast , and that we have to identify opportunity quickly and effectively . So , we do not have the position where we have long turnaround times , because long turnaround times mean that you lose and you waste your resources , and you lose and you waste the opportunity to move faster on delivering quality higher education .
It is important to understand that our management model looks different . We have a president and CEO , and then
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