Higher education and oil: The cost of credit and crude – A strategic corollary for industry and higher education

Abstract

The market shock that accompanied COVID-19 has the potential to significantly transform higher education. At the same time, it presents an opportunity for higher education to learn from industry and adopt successful policies and practices. This paper provides lessons learned from the oil industry which may help higher education institutions to successfully navigate disruption and improve organizational outcomes. A four-phase business cycle model is presented as a strategic corollary for industry and higher education to support decision-making and provide a mechanism for discussion and policy development.