Best Practices for Financial Success at Your Institution
To promote long-term financial success amid higher education’s changing landscape, consider the following:
Approach the Decision Process Differently
Traditionally, decision making is change-limiting. But institutions must act swiftly, leveraging current data and engaging stakeholders to make informed decisions
Adopt a Portfolio Approach
Institutional leaders should consider balancing cost-intensive, mission-driven activities with activities that provide net-operating revenues.
Develop a Deeper Market Understanding
Institutions should acknowledge the increased competition for students, faculty, and funding, to commit to approaching markets in creative ways.
Relentlessly Pursue Efficiency
More efficient business and administrative operations allow more quality investments to be made in academics.
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