Most universities teach, do research, or do both. Another model exists which blend teaching and research along with serving as an incubator for the ecosystem it serves.
By partnering with local business, not only will usual academic endeavors continue but a new source of revenue can be developed while adding measurable value to all stakeholders, including society. This new approach to Mega thinking and planning or provided here along with metrics for measuring value added.
In this recent paper authors Roger Kaufman, Mariano Bernardez, and Gonzalo RodrÃguez Villanueva, describe the practicality of this approach taken by the Sonora Institute of Technology (ITSON) in Mexico. It is shown not only as theoretical but is supported by several other real-life applications.
The key is metrics — data from which you can plan, implement, and evaluate—are critical to any data-driven initiative. Proving value-for-money is almost universally seen as an organizational imperative, especially as funding is in increasing short supply.
Building on past university commitments, ITSON both ethically and economically adds value to its students, faculties, staff, and communities. This is both economic and ethical. Full paper linked here.
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