Which sectors are most vulnerable to disruption according to the video?

Healthcare and higher education are the most vulnerable sectors.

What has caused the disruption in higher education?

Systems that are not adaptable or resilient, and an infrastructure built on high operating leverage of fixed costs.

What changes are expected in higher education?

The rise of online education and shifts in demand for certain disciplines.

Why are universities facing challenges with the current system?

Because they have a high operating leverage with many fixed assets that are not scalable.

What is the biggest asset of a university according to the speaker?

The expertise of the faculty, regarded as 'soft capital.'

Why is this event considered 'once in a lifetime'?

Due to the unprecedented nature of the disruption that sectors like higher education are facing.

What is necessary for universities to thrive during this change?

Being more flexible and adaptable in deploying resources.

How does the speaker feel about the potential changes in universities?

The speaker is optimistic about the changes, confident in leveraging faculty expertise.

What might universities lose if they don't adapt?

They may fail to provide a good student experience and manage resources effectively.

What kind of university infrastructure is at risk?

Buildings, parking services, administrative support, and other facilities may become less relevant if universities move online.

How COVID-19 Will Change Higher Education

00:03:21

https://www.youtube.com/watch?v=i4SZ8AezUgs

Zusammenfassung

TLDRThe video highlights a significant unprecedented disruption impacting sectors like healthcare and higher education. The speaker addresses how higher education, with its traditional models and high fixed costs, is vulnerable as they are unadaptable and not resilient. A major shift is anticipated with the rise of online education and changing demands for various disciplines. This requires universities to be more flexible in deploying resources, especially with a focus on leveraging faculty expertise which is seen as the most crucial asset. Despite the challenges, the speaker remains optimistic about adapting to these changes for a better student experience and believes in the potential for universities to thrive if they embrace resilience and adaptability.

Mitbringsel

🌍 Unprecedented disruption is affecting healthcare and higher education.
🏛️ Higher education models are vulnerable due to high fixed costs.
💻 Online education is expected to rise significantly.
🔄 Flexibility and adaptability are crucial for university success.
👩‍🏫 Faculty expertise is the most valuable asset of universities.
📉 Demand for certain disciplines will decline, while others increase.
🏢 University infrastructure faces challenges with fewer on-campus students.
🤝 Collaboration is needed to leverage faculty expertise effectively.
💪 Optimism surrounds the potential for universities to adapt successfully.
🚀 A focus on better student experience is essential in this transition.

Zeitleiste

00:00:00 - 00:03:21
The speaker discusses an unprecedented event affecting highly stable sectors, notably healthcare and higher education, which are facing significant disruptions due to rigid systems. Educational institutions must adapt by embracing online education and adjusting curricula to meet evolving demands. High fixed costs and inflexible structures present challenges, especially if fewer students are on campus, affecting universities' scalability. However, the critical asset is the expertise of faculty, which needs to be leveraged for a superior student experience. The speaker remains optimistic about overcoming these challenges with available resources.

Mind Map

Häufig gestellte Fragen

Which sectors are most vulnerable to disruption according to the video?
Healthcare and higher education are the most vulnerable sectors.
What has caused the disruption in higher education?
Systems that are not adaptable or resilient, and an infrastructure built on high operating leverage of fixed costs.
What changes are expected in higher education?
The rise of online education and shifts in demand for certain disciplines.
Why are universities facing challenges with the current system?
Because they have a high operating leverage with many fixed assets that are not scalable.
What is the biggest asset of a university according to the speaker?
The expertise of the faculty, regarded as 'soft capital.'
Why is this event considered 'once in a lifetime'?
Due to the unprecedented nature of the disruption that sectors like higher education are facing.
What is necessary for universities to thrive during this change?
Being more flexible and adaptable in deploying resources.
How does the speaker feel about the potential changes in universities?
The speaker is optimistic about the changes, confident in leveraging faculty expertise.
What might universities lose if they don't adapt?
They may fail to provide a good student experience and manage resources effectively.
What kind of university infrastructure is at risk?
Buildings, parking services, administrative support, and other facilities may become less relevant if universities move online.

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Untertitel

Automatisches Blättern:

00:00:00
so this is a once in a lifetime event
00:00:03
perhaps once in a century event uh
00:00:05
something we've never faced before
00:00:08
and the sectors of the economy that are
00:00:10
most vulnerable
00:00:12
and are going to be disrupted the most
00:00:15
are those that have
00:00:16
haven't had much disruption for the last
00:00:18
50 or 100 years
00:00:20
and that is healthcare and higher
00:00:22
education in the healthcare we're
00:00:23
already seeing it
00:00:25
but in higher education we are yet to
00:00:26
feel how this
00:00:28
is going to fundamentally alter the way
00:00:30
we do business
00:00:31
and part of the reason the disruption is
00:00:33
happening is because we have built
00:00:35
systems
00:00:36
which are not adaptable or resilient we
00:00:40
have
00:00:42
taught educated people the same way
00:00:45
for hundreds of years
00:00:48
and to do that we have built an
00:00:50
infrastructure and a business model
00:00:52
which has
00:00:53
very high operating leverage of fixed
00:00:55
costs
00:00:56
these facilities infrastructure
00:01:00
faculty are dedicated faculty along
00:01:02
functional lines
00:01:03
along disciplines and so they are not
00:01:06
very adaptable to changing circumstances
00:01:08
and so all of a sudden one big change is
00:01:11
going to be
00:01:12
the rise of online education many
00:01:15
faculty have never
00:01:16
dealt with that there's going to be also
00:01:20
changes
00:01:21
in what kind of education is offered
00:01:24
over the next
00:01:24
decade because the demand for certain
00:01:27
disciplines is going to decline for
00:01:29
other disciplines is going to increase
00:01:31
so it's going to be very important
00:01:33
for universities to be more flexible and
00:01:35
adaptable and the way they in the way
00:01:37
they
00:01:37
deploy resources and so this is
00:01:40
it's a sea change it's something we have
00:01:42
never experienced before
00:01:44
and hopefully we never experience again
00:01:46
but what has
00:01:48
it has done has exposed a big
00:01:50
vulnerability which is very very high
00:01:52
operating leverage
00:01:53
lots of fixed assets if you look at a
00:01:55
university we have lots of buildings we
00:01:57
have parking services we have
00:01:58
administrative support
00:02:01
we have residential dining halls and
00:02:03
dorms
00:02:04
we have student organizations all these
00:02:07
are
00:02:08
ancillary to the educational system
00:02:11
but consume a lot of resources and what
00:02:14
will happen
00:02:15
if we go online
00:02:18
where we don't have students on campus
00:02:20
or we have fewer students on campus
00:02:23
our facilities are not scalable and so
00:02:26
this is a challenge that every
00:02:27
university is going to face
00:02:28
and i think the ones that will do best
00:02:31
are the ones who are ahead
00:02:32
and developing systems that are more
00:02:33
resilient and adaptable i'm very
00:02:35
optimistic i'm very optimistic because
00:02:37
we have an amazing group of faculty
00:02:40
so though if you think about what is our
00:02:42
really most
00:02:43
important capital
00:02:47
in a university it is expertise that
00:02:50
faculty have
00:02:50
and it's the soft capital which doesn't
00:02:53
show up on your
00:02:54
accounting statements but that's the
00:02:56
most critical
00:02:57
capital and that we have and what we
00:02:59
have to do is how do we deploy it
00:03:02
how do we leverage it and how do we
00:03:04
deliver it
00:03:05
for a much better student experience and
00:03:07
that's what is going to be challenging
00:03:09
but i'm very optimistic that we have the
00:03:12
resources that we can
00:03:16
execute
00:03:21
you