More on the direction of higher education?

This from an Eduventures report. Even more reason why private higher education has to focus on its distinctive Christian mission and its "engaged learning" educational philosophy.

https://www1.vtrenz.net/imarkownerfiles/ownerassets/884/Eduventures%202009%20Annual%20Report%20Summary.pdf

In a very simple sense, a college or university is three things in combination: curriculum, faculty, and credentials. Students, for the most part, attend these institutions in order to study subjects with experienced teachers to earn degrees. Together, these three elements comprise a “value chain,” or set of interlocking
services and products that in combination are transacted in such a ways as to provide more value than they might independently. Recent, disruptive innovations within higher education, however, suggest that new forms of value might be emerging that could undo the traditional higher education value chain. Take, for example,
MIT’s Open Courseware initiative, nearly a decade old now, which allows individuals from around the world to view digital materials associated with nearly all of the courses delivered by the institution. Consider also the growing interest in competency-based credentials such as those offered by Western Governors University.
And fi nally, look at StraighterLine, a recently launched subscription service that offers self-paced, online general education courses at $99 a month. Through its relationship with the American Council on Education’s Transcript Services, StraighterLine offers its customers access to college credits at a fraction of the cost of traditional colleges and universities. Interestingly, StraighterLine emerged as a standalone enterprise after being incubated within the online tutoring company Smarthinking – suggesting that the establishment of a curriculum company was a natural outgrowth from what is essentially a teaching organization.

Now imagine a scenario where an individual (the “student”) somewhere in the world hires a tutor (the “faculty”) somewhere else in the world to guide her through freely available course materials (the “curriculum”), which might be available anywhere in the world, before taking a competency-based exam (the “credential”) that has recognized market value in one or another profession. Would there even be a
need for universities anymore?