A note from our Co-founder I’m sure you’ve been exposed to a number of Marketing books over the years. A couple of excellent books come to mind such as ‘Positioning: […]
There is this cool process improvement book called The Goal by Eliyahu M. Goldratt, an expert in Constraint Theory. Constraint Theory is used in effectively building jets or missiles or mainframe computers. Why is an EDU guy writing an article about manufacturing efficiencies? It’s because there are analogies everywhere and, as it happens, Constraint Theory can be used very well in improving EDU marketing and admissions performance. Go figure.
Manufacturing meets Higher EDU Enrollment Management…read on.
The Goal is a manual on Constraint Theory and Process Improvement told by way of a parable. Here is the story… This dude Alex worked for a big Candy Manufacturing Company. He was brought into the VP’s office one day and was told he had to turn around this production plant or it was doomed. He had 90 days to turn around a failing production plant or it would be shut down. As it turned out, Alex grew up in the town where the Production Plant was located. Many of his buddies from high school worked there; even, his brother in law worked there. There was huge pressure on this guy to figure this problem out or he would be left a pariah in this community where he grew up, a lump of coal for Christmas from brother in law etc… Read more
At Enrollment Resources, we’ve found schools often try to improve their revenues by doing the following three tactics, all of which are strategically counterproductive:
- Adding program offerings, even if they are marginal in terms of viability
- Hiring more recruiters
- Searching for more pools of traffic that can be potentially converted into something
Tiny tweaks can make a big difference
Most schools can improve revenues in the 20-30% range without incurring costs by identifying the intersection points within their enrollment management process and making minor process-improvement tweaks.
Reference Book: The Goal. Reference material: Enrollment Resources blog.
Nasim Taleb has written an interesting book called Antifragile. Taleb talks about how, through embracing risk, nature has a way of applying stress to that risk. This, in turn, allows an entity to either fail or succeed under that stress and pressure. The stress related to embracing risk is what makes our society strong; as an illustration, did you know a regularly-stressed femur actually becomes stronger over time? In fact, they are known to become even stronger than concrete.
Some businesses–or people–thrive when there is upheaval by embracing uncertainty and benefiting from it. These folks are known as antifragile. Others who crave the status quo and safety try to control uncertainty rather than embrace it. These are the risk-adverse folks who, according to Taleb, ride the backs of those who strengthen themselves through embracing risk. They are fragile. As an entrepreneur, I’d characterize these types of people as a waste of space. Read more