Suggested Financial Strategies for Stressed Higher Education Institutions
Kelly Canavin
Regent University
Abstract
Suggested Financial Strategies for Stressed Higher Education Institutions Throughout this country and the world schools are suffering and in search of ways to rise above financial struggles and become the great institution they once were. Among my research I found as though I really enjoyed learning ways to help schools who are suffering. As though I would never hope to be in a situation where I were employed by a stressed university, I have learned a lot to be an instrumental value to the revitalization of such institution. Although their are many indications that you could be a stressed …show more content…
This would also be a good opportunity for the board members along with the president to address the issue of getting ahead of the students. The gap between generations can be intimidating but needs to be connected. Creating a mission that could cultivate the values of both generations could be significant. Using the mission throughout the build up of the university is a good way to keep everyone on the same level. To make a budget that would work you need to base it around what the mission grants. In an article I read the authors Sainte, Kanter and Muller (2009) state that typically a budget is decided up by each department separately. This can cause problems when too many people are involved with making decisions based on the budget. In many cases, these processes included an element of arbitrariness and did not hold departments and faculty accountable for the department's or institution's ability to fulfill their missions (p.381). As president it is your duty to make the final decision and this is where two of the skills could pull you in different directions. First one states to be connected with your employees and the …show more content…
Change is always happening and this can make things difficult when you are trying to fix a financially stressed institution. Not only do you want to focus on the student and faculty currently enrolled you also need to pay attention to the future students. According to Martin and Samels (2009) the proportion of students from low socioeconomic backgrounds is expected to grow, as is the number of nontraditional students (53). This will cause universities to regulate the amount of financial aid and discount on tuition they are able to allow. Wanting to make sure they keep a stable number of students enrolled. The demand for financial aid is going to rise more for those who need it than those who academically qualify. Also a reason why changing the mission could be beneficial. Especially for private insitutions that cost more than a public university. They need to find a way to distinguish themselves from the other institutions and outweigh the price tag. When you go through the difficult task of turning around a stressed university you will also come across the not so easy task of dealing with less funding. Working harder to find the private endorsements as a resource. Showing the world the good qualities and how you were able to learn from your mistakes. Stressed institutions are sometimes pressured into pursuing solutions to their financial problems that appear to offer immediate but
Kelly Canavin
Regent University
Abstract
Suggested Financial Strategies for Stressed Higher Education Institutions Throughout this country and the world schools are suffering and in search of ways to rise above financial struggles and become the great institution they once were. Among my research I found as though I really enjoyed learning ways to help schools who are suffering. As though I would never hope to be in a situation where I were employed by a stressed university, I have learned a lot to be an instrumental value to the revitalization of such institution. Although their are many indications that you could be a stressed …show more content…
This would also be a good opportunity for the board members along with the president to address the issue of getting ahead of the students. The gap between generations can be intimidating but needs to be connected. Creating a mission that could cultivate the values of both generations could be significant. Using the mission throughout the build up of the university is a good way to keep everyone on the same level. To make a budget that would work you need to base it around what the mission grants. In an article I read the authors Sainte, Kanter and Muller (2009) state that typically a budget is decided up by each department separately. This can cause problems when too many people are involved with making decisions based on the budget. In many cases, these processes included an element of arbitrariness and did not hold departments and faculty accountable for the department's or institution's ability to fulfill their missions (p.381). As president it is your duty to make the final decision and this is where two of the skills could pull you in different directions. First one states to be connected with your employees and the …show more content…
Change is always happening and this can make things difficult when you are trying to fix a financially stressed institution. Not only do you want to focus on the student and faculty currently enrolled you also need to pay attention to the future students. According to Martin and Samels (2009) the proportion of students from low socioeconomic backgrounds is expected to grow, as is the number of nontraditional students (53). This will cause universities to regulate the amount of financial aid and discount on tuition they are able to allow. Wanting to make sure they keep a stable number of students enrolled. The demand for financial aid is going to rise more for those who need it than those who academically qualify. Also a reason why changing the mission could be beneficial. Especially for private insitutions that cost more than a public university. They need to find a way to distinguish themselves from the other institutions and outweigh the price tag. When you go through the difficult task of turning around a stressed university you will also come across the not so easy task of dealing with less funding. Working harder to find the private endorsements as a resource. Showing the world the good qualities and how you were able to learn from your mistakes. Stressed institutions are sometimes pressured into pursuing solutions to their financial problems that appear to offer immediate but