I have been thinking about how Michael Porter’s model for the Five Forces of Competitive Strategy, long a centerpiece of business strategy, provides a useful lens for considering the seismic forces bearing down on higher education today.

These forces, which include competitive rivalry, the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, and the threat of substitute products or services, apply to universities and colleges as they compete for dwindling supplies of students, face threats from new universities and substitutions in the form of micro-credentials, and face increasing bargaining power from students and parents as they reconsider the value of a college education. This piece is now on Forbes.com – and enumerates how these forces are reshaping our universities and colleges and how they will need to evolve and adapt to survive.