This article is an excerpt from Alan Greenspan’s latest book, “The Map and the Territory: Risk, Human Nature, and the Future of Forecasting”. As Lean Six Sigma professionals, we also...
Everyone is concerned about the rising college education costs. There are many assumptions of the reasons why the costs have increased above inflation and middle income wage increase. This article lists the top earning private university presidents from 2012. Each one has an interesting story. The main point is that there are only two public university president making over $1 million. A 36 to 2 ratio is stunning difference between private and public universities. When searching for talent at the C-Suite, it appears there is really only one really player in this market, private universities.
This does have an impact on the overall student tuition inflation over the past 20 years. When you include the posh infrastructure improvements, bloated overheads, increased payrolls, and excessive benefits, it doesn’t take much thought to “do the math” on this issue. The next step on this process is to apply the 7 wastes from the Toyota Production System to reduce non-value added process that do not benefit the students.
Gary Kapanowski – Lean Six Sigma Master Black Belt – Excelsior
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