Coping with the lost decade How Higher Education
Author : lois-ondreau | Published Date : 2025-06-23
Description: Coping with the lost decade How Higher Education Boards and Presidents can Lead Through Change Trend Lines are Not Sustainable Structural Deficit Where is Your College or University Why do you say that Solution to Structural Deficit
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Transcript:Coping with the lost decade How Higher Education:
Coping with the lost decade How Higher Education Boards and Presidents can Lead Through Change Trend Lines are Not Sustainable: Structural Deficit Where is Your College or University? Why do you say that? Solution to Structural Deficit Increase revenues Cut cost and increase productivity Whittle away Major tune-up: Cost-benefit, ROI, CQI Stop doing things (termination) Do different things (diversification) Do things differently (innovation) Sample Productivity Strategies 6 Strategic finance is aligning resource decisions —regarding revenues, creating and maintaining institutional assets, and using those assets— with the institution's mission and strategic plan. What is Strategic Finance? Strategic Finance Takes a Broader View Target: Vision and Vitality 9 Vision: Where we are going; what we will “look” like Vitality: Our mission-critical assets and ability to invest in the future Strategic Plan Missing, Not Communicated, Forgotten 10 ALIGNMENT: Strategic Plan is Working 11 Mission Core Values Goals Critical Priorities cause indicator change 12 2020 Indicators: Vision # Vitality # Strategic Plan Vision Vitality Strategic Plan Structure Mission Vision: [Define Quality and Vitality in 2020 and Beyond] 13 Sample Future Board of Trustees Scorecard 14 Board-President Leadership in Times of Change Fiduciary “duty of care:” the “buck” of institutional vitality stops with the board. Develop/reinforce strategic board role. Partner with the president, respect president’s role, expect effective leadership. Find common ground on how much/what kind of change is needed. Understand/support change management strategies. Define and focus on a vital, sustainable future state and the actions that will cause it. Trust AND verify, both ways. Early, often. Keep roles clear and support each other. This work is funded by Lumina Foundation for Education through a grant to the Association of Governing Boards of Universities and Colleges (AGB) Ellen Chaffee, Ph.D. Senior Fellow and Project Director, AGB ellen.chaffee@gmail.com
