Value in Higher Education

Research into value has noted its ubiquitous nature and the many attempts to define it (Francis et al., 2014). In other research Ramsay (2005) argues that for many authors the term “value” is used as though its meaning is self-evident, although it mainly remains undefined. The indistinct and elusive nature of value is also discussed by Zeithaml (1988, p. 2) who argues that consumers use the term in ways that are ‘highly personal and idiosyncratic’. Whilst acknowledging that precise terminology has not yet been obtained, it is clear that there is no agreement over the nature of value. There does not appear to be an essence, something that is common to all instances of value. Instead, what is evident is that value means different things to different people. Differences in stakeholders’ conceptions of value have been identified in Higher Education (HE) where Jones et al. (2014) point out that value means different things to university elites, teaching staff, students and prospective employers.