Universities Can Learn from Lego's Turnaround to Survive Budget Pressures
Australian universities, grappling with escalating budget pressures, can learn from Lego's turnaround. The toy giant's strategy of cutting back and refocusing on core strengths offers a model for education. A new approach, 'Prune, Prioritise, Transform', is helping institutions adapt.
Universities are facing the challenge of doing more with less. Staff are stretched thin, inquiries go unanswered, and faculties struggle. The 'Prune, Prioritise, Transform' model offers a solution. It involves three key steps:
First, 'Pruning' requires cutting back activities, channels, or partnerships that no longer align with institutional goals. This frees up resources. Second, 'Prioritisation' focuses on high-impact activities, shifting the mindset from effort to strategic value. Lastly, 'Transformation' involves bold shifts, such as automated assessments or AI-powered student advisors. This approach aims to achieve more by doing less, but smarter.
Universities can move from being overstretched to operationally sustainable by following this model. It's not about doing more with less, but doing the right things and doing them well. By strategically pruning, prioritising, and transforming, institutions can navigate budget pressures and ensure a sustainable future.
