Alliance 2014: Higher Education is Evolving
As the business model changes, the governance model must too
Over the past ten years, changes to funding, rising student and donor demands, and enhanced reporting requirements created a different breed of higher education institution. Continued downward pressure from government funding, constituents’ need for ready access to education information and services, and increased competition from international institutions all play a role in how the higher education industry is being influenced by the marketplace. These emerging trends require institutions to adapt quickly in an environment that demands a steady flow of unique educational offerings.
Good governance means growing stakeholder value while at the same time defining stakeholder decision rights, ensuring strategic alignment of decisions and enforcing accountability at all levels. In actionable terms, good governance applies to processes for mitigating risks and escalating issues, tracking and reporting status and costs, and managing scope and change, to every aspect of an organization’s activities. Indeed, successful organizations rely on good governance to support effective decision making, meet key objectives and realize maximum business value.
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