Shared governance is a basic tenet of higher education and is frequently referred to. For shared governance to be successful, board members, administrators, and faculty members must learn to have respect for and confidence in each other, acting inclusively, transparently, and responsibly. Boards need to be active and involved, participating in strategic and financial planning and risk assessment, demanding high standards, and making data-driven decisions. Presidents need to be strong but consultative, both visionary and strategic. When boards, presidents, and faculty members work together in the spirit of shared governance, they strengthen the institution's social capital and can take collective action in support of a change agenda. A commitment to shared governance improves the productivity, quality, and reputation of an institution and creates a positive climate for students, staff members, and the community. (Contains 4 resources.)