Why should Senior Management invest in an alumni network? This is a common question that often receives a fairly qualitative rather than quantitative anwer. I don’t know if you are like me, but I like to be able to give a definitive response to these kind of questions and so when I was reminded recently of the three levels of a product, it got me thinking about how this could be applied to the products of a University, say an MBA programme.
It was mentioned to me (although I can find no hard evidence to prove this) that as a rule 80% of investment into a product is in the core & actual product which yeilds 20% of the impact and conversely, 20% of investment goes into the augmented product that in turn yeilds 80% of the impact.
If there is any truth to this, then before you is a very straightforward and logical reason why Deans should invest in an alumni network – you can’t get much better than an 80% return on a 20% investment!