Policy Challenges and Impact of Global Rankings, Accreditations in Transforming University Systems to Value Creation Centres

Dynamics in the higher education, internalisation and global economic turmoil drastically influences the research outcomes with implications to the global ranking of higher education institutions (HEIs) and the universities. National education policies and the ranking of higher education institutions (HEIs) are entwined and mutually influence each other. In recent times, the global ranking by various organisations like QS, THE, and government agencies become proxy to conclude the excellence of a university. National Global, regional and national socio-economic-political concerns are influencing the functioning of universities with respect to international student recruitments. International student admissions also greatly contribute to the funds for the university and economy of the nations, simultaneously. This research paper is an investigative study of value creation in the university education systems and the impact of ranking and higher education policies. In this paper, authors have highlighted a couple of key points. First of all, the universities have to acclimatize as per the global rankings standards and reinforce to become value creation centers, with more responsible towards the demands of society. The authors have highlighted about the convolution and challenges universities are facing and measures to deal with. The conscientious approach to the facades of new knowledge areas in the new global socio-economic milieu gives a tangible and relevance to the execution of responsible research and innovation with value co-creation in university systems.