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In earlier articles, you have learned from Ray Wild and Stuart Brown something of the origins of the Teaching Company Scheme, and some details of the Molins/Henley/Brunel venture with which they are personally involved. It is now my task to give you, so to speak, the ‘policy background’ to the scheme and an over‐view of how it is developing, and in view of the complexity I make no apology for some repetition. We are still in the experimental stage of a complex and dynamic situation in which the factors involved are ill‐defined, and their importance and relationships are not well understood. The scheme guided by the management committee must obviously be flexible to allow for opportunism and judgment, but within a corporate policy. Such being the case, the opportunity for criticism of its actions is immense!

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