Weise and Christensen's "Hire Education: Mastery, Modularization, and the Workforce Revolution" seems to be advocating for universities, what in Australia is called Vocational Education and Training (VET). With VET, the student does very job-orientated, modularized, competency (pass/fail), self-paced courses. I have undertaken such a Certificate in Training and Assessment and the university equivalent Graduate Certificate in Higher Education: while they cover much the same content they have a very different approach.
The University of British Colombia released a Flexible Learning Strategy, where they look at what students need and how to supply it. They seem to be moving towards this vocational approach, but are rightly worried about what this might do to the traditional university's role.