Actual Estate Mogul Founds Own University



There have been some weird stories coming out of a tiny place in Canada about a university president attempting to kick the shins of the Executive Chairman of a multi-billion dollar international real estate conglomerate.  Weird stories demand further investigation!

The smallest Canadian province, Prince Edward Island, has a quaint little university with just over 4,500 students.  The story goes that the University President tried to woo a multi-million dollar donation from Richard Homburg, the Executive Chairman of the Homburg Group of Companies.

No big news there.  As government funding to universities has declined, universities have turn into adept at raising funds from the private sector.  This certain deal did not occur.   No big news there either, not all deals go ahead.

However, the actual estate developer felt that educating men and women is a great thing, even if he did not like that certain deal with the university.   Instead of donating his funds to an additional university, he decided that he would prefer to do it himself and discovered his own university. 

Major corporations have been creating ‘corporate universities’ for their own internal training for decades.  There are now over 2,000 corporate universities and some of their campuses have state-of-the-art classrooms, sports and recreation facilities – and yes, several helicopter pads – that would be the envy of any public university.   Companies know they can organize corporate education, and do it genuinely properly.

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Companies also know that ‘academic freedom’ prevents companies from giving advice to the organization school.  The attitude is “You can have your name on the door (for numerous million dollars), but don’t bring your concepts inside, we’ll choose what’s very best”.  And just how several Company Schools are so flush from company success that they have several million of their own? 

Forty years ago, Richard Homburg started having innovative tips, and nowadays he still keeps his .5 billion empire ahead of the game with a keen sense of enterprise and impeccable timing.   So, Homburg launched something referred to as the “Homburg Global Education Project”.  He assembled scholars from some of the best true estate schools around the globe, and came up with one thing novel.

And this is where we locate the surprise.  Instead of paying out to hang his name over the door of a small enterprise school, Homburg’s Global Education project spans two continents, with an Academy in Zurich, an Institute in Canada, an eCampus for global education delivery, a analysis book series with Oxford University Press, and innovative Bachelor and Masters programs in Actual Estate that are relevant to the organization globe, taught by some of the ideal professors and professionals from around the world. Wow.

The President of the small university certainly did not like this, and went all over the media saying how this would destroy the fabric of education and end the globe as we know it.  He never ever came correct out and mentioned what he was most afraid of:  Richard Homburg showed the organization world that they can do that too.  Let’s face it: starting new initiatives is what business men and women do.   And if the enterprise globe starts their own alternatives to the standard university, the universities’ tried and accurate way of getting millions from major corporations could be threatened. 

Let’s try the thought experiment: spend millions for a sign over a door, or invest in a global delivery program for market-relevant Bachelor and Masters programs drawing from the ideal faculty in the world?  No organization person would get that 1 wrong.

The lesson: don’t upset a thousand-year tradition of keeping a tight monopoly on university education and expect to preserve it quiet.  Nicely, 2011 is the year that tradition has been upset.


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