Rethinking Revenues: New Revenue Streams For African Universities
February 23, 2021: The primary sources of revenue for higher education institutions varies but comes mainly from tuition and fees, aids, and funds, and from government funds especially for public universities.
For many public tertiary education institutions in Africa, including nonpublic institutions, private grants, and contracts as well as endowments and research grants remain highly limited. And student loan programs remain generally underdeveloped.
As part of rethinking additional and alternative sources of revenue, universities can successfully find new revenue streams by establishing executive education programs. There is need for intensive and innovative curriculum designed to sharpen professional skills and develop attendees’ knowledge with creative innovation all within a real-world public and business context. To build this culture of executive education programs, universities should use their experts to draw up relevant curriculum in classroom and online formats that meets the requirements of working professionals and leaders.
The Executive master’s degree programs should be placed under exclusive post graduate programs designed for upcoming and accomplished professionals who want to learn how to think beyond traditional ways and become more self-aware as professionals, practitioners, and leaders.
These executive programs should focus on solving the problems of today’s public service and business world through leadership, strategic thinking, and digital transformation.
The respective executive programs should serve professionals in a way that will aspire them to become successful public and private sector leaders dedicated to public service, social responsibility, social good and justice, and civic engagement.
In addition to the regular post graduate programs in various faculties, I suggest the following designations:
Executive master’s in Leadership and Strategic Studies
Executive Master’s in Conflict, Security & Development
Executive master’s in Leadership Psychology
Executive Master’s in Strategy and Security Studies
Executive Master’s in International Affairs and Diplomacy
Executive Master’s in Forensic Psychology
Executive Master’s in Clinical Psychology
Executive Master’s in Public Administration
Executive Master’s in Business Administration
Executive Master’s in Human Resources Administration
Executive Master’s in Forensic Accounting
Executive Master’s in Higher Education Administration
Executive Master’s in Cybersecurity
Executive Master’s in Legal Studies
I hope this form of new psychology in moving beyond traditional sources of revenue at higher education institutions starts bringing in more money!
Prof. John Egbeazien Oshodi, is a Behavioral Leadership Specialist, and an American based Forensic/Legal/Clinical Psychologist. He is an Online Faculty member at the Iscom University, a Development Professor and the International Liaison Consultant for the African University of Benin, Republic of Benin. He directs an e-learning platform, the Transatlantic Enrichment and Refresher Institute, Miami, Florida.