ERIC Number: ED428599
Record Type: RIE
Publication Date: 1998
Strategic Responses to Financial Challenges. Strategic Decisions. Board Basics.
Hauptman, Arthur M.
Association of Governing Boards of Universities and Colleges
This booklet for trustees of institutions of higher education offers guidelines for strategic financial decisions required in light of the financial challenges higher education faces in the 1990s and beyond. "Strategic response" is defined as a decision that requires changing a major policy, program, or practice and involves some risk. Five strategic responses are examined, they are: (1) attracting additional revenues to help close the gap between resources and expenses; (2) reassessing tuition and financial aid policies to alter the size or mix of the student body; (3) cutting costs, improving quality, and restructuring how the institution educates students and administers its programs; (4) introducing or expanding the use of technology to educate students and improve administrative functions; and (5) increasing resource sharing by forming alliances and cooperating with other institutions. Questions to consider are also provided for each of these five options. Trustees are also urged to view governance as a strategic tool; to rethink the traditional principles of shared governance that define the balance of power among governing board, administration, and faculty; and to assess whether they have sufficient autonomy to make decisions for their campuses. (Contains 11 references.) (DB)
Descriptors: Budgeting, Decision Making, Financial Exigency, Financial Policy, Financial Problems, Governing Boards, Higher Education, Policy Formation, Resource Allocation, Retrenchment, Strategic Planning
Association of Governing Boards of Universities and Colleges. 1133 20th Street NW Suite 300, Washington, DC 20036. Tel: 800-356-6317; Tel: 202-296-8400; Fax: 202-223-7053; Web site: http://www.agb.org
Publication Type: Guides - Non-Classroom
Education Level: N/A
Audience: Administrators; Policymakers; Practitioners
Authoring Institution: Association of Governing Boards of Universities and Colleges, Washington, DC.
Note: For related documents, see HE 031 908-917.