Skip to main content

Are Welsh Universities facing cuts? - an update

Just over a week ago, I wrote about some of the financial problems that Welsh Universities could be facing in the current economic climate.

When I put pen to paper, little did I know that the Times Higher Education was about to publish a stark warning that "institutions could be facing financial ruin unles they make radical changes to the way they work".

In an article headed "Storm warning:change now or perish institutions told", the academics' trade journal warned that there may be up to 30 institutions facing a deficit this year and that a number could close.

The question that the Welsh Press and Welsh politicians have yet to ask, of course, is whether any Welsh universities are in such a precarious financial position and, more importantly, what effect this could have on the delivery of higher education in Wales?

Comments

Universities are in a financial mess. My Russell group employer has frozen "non-essential" recruitment, let non-funded temporary contracted academics go, and even offered non-research-active Teaching Fellows voluntary redundancy. All this to save 10 per cent on the departmental budgets for the Vice Chancellor.

So my post ends on 1 September and I have to find another job, despite many other universities being in a similar boat financially! Time to leave academia, methinks...
a depressed academic said…
Why isn't the BBC examining the financial state of Welsh universities? They are in a mess thanks to the ineptitude of their vice chancellors.

Popular posts from this blog

THE IMPORTANCE OF FRANCHISING

When we talk about start-ups and entrepreneurship, rarely do we discuss the potential of franchising not only as a way of establishing new ventures in the economy but also as a method of growing existing businesses. According to the British Franchising Association, franchising is the granting of a licence by one person (the franchisor) to another (the franchisee), which entitles the franchisee to own and operate their own business under the brand, systems and proven business model of the franchisor. The franchisee also receives initial training and ongoing support, comprising all the elements necessary to establish a previously untrained person in the business. This enables individuals to start their own businesses without having to develop their own ideas and utilising an existing brand and established market. Of course, whilst each franchise business is owned and operated by the franchisee, the franchisor controls the quality and standards of the way in which the business is...

THE IMPORTANCE OF THE CREATIVE CLASSES

One of my favourite academic books of the last two decades must be the “Rise of the Creative Classes” by Professor Richard Florida.  This was one of the first detailed studies of the growing group of individuals who use their creativity and mental labour to earn a living and not only included those in arts and entertainment, but also people working in science and technology as well as knowledge-based professions such as healthcare, law, business, and finance.  Fast forward to 2022 and Professor Florida has written an updated report on the creative classes although he and his team now identify a different type of individual who is taking full advantage of the growth in digital platforms, social media, and online marketplaces.  Such ‘creators’ are defined as those who use digital technology to make and publish unique creative content, whether in the form of video, film, art, music, design, text, games, or any other media that audiences can access and respond to.  They ...

INTRAPRENEURSHIP

Whilst we often consider entrepreneurship to be associated predominantly with new start-ups, larger firms - in order to compete effectively in fast-changing global markets - are adopting more innovative and enterprising approaches to management within their organisations. One of these approaches is the development of entrepreneurship within a corporate environment (or intrapreneurship). Research has shown that intrapreneurship is not easy, and there are considerable differences between an intrapreneurial and a traditional corporate culture, with the latter having an emphasis on a culture and reward system that tends to favour caution in decision-making. For example, large businesses rarely operate on a "gut-feeling" for the market-place, as many entrepreneurs do. Instead, large amounts of data are gathered before any major business decision is made, not only for use in rational business decisions, but also for use as justification if the decision does not produce optimu...