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ERIC Number: EJ1040993
Record Type: Journal
Publication Date: 2014
Pages: 11
Abstractor: As Provided
Reference Count: 25
ISSN: ISSN-1536-3759
On the Edge: A Study of Small Private Colleges That Have Made a Successful Financial Turnaround
Carey, Amy Bragg
Christian Higher Education, v13 n5 p306-316 2014
This article describes a qualitative study that involved two small private universities, examining their process of transformation from institutions headed toward closure to institutions that underwent a successful turnaround. The primary questions that guided the study included the issues and circumstances that led to the need for a turnaround, the persons and factors that contributed to the institutional turnaround, and the extent to which presidential leadership created a turnaround culture at the institution. The research methodology involved 18 detailed interviews of presidents, board members, administrators, and faculty members on the campuses of the two institutions. Entrepreneurial presidential leadership was found to be a critical factor to institutional transformation. Data analysis identified the importance of the president and the leadership team promoting the uniqueness of the institution, communicating the vision for the plan, and implementing the plan in a timely manner. The impact of fundraising was something not often noted in previous studies regarding turnaround schools and was a major factor in the successful turnaround at the two institutions, helping to build momentum and provide an infusion of much-needed resources. The stories of these universities represent the resilience of small private institutions. Presidents, board members, and faculty members would benefit from the many practical and inspiring lessons that can be learned from these turnaround campuses.
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Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A