Higher education faces a host of financial challenges. Public investment in colleges and universities is shaky. Tuition revenue is softening. And the costs of labor and facilities continue to rise. Such problems helped trigger the decision by Moody’s Investors Service to downgrade its outlook for higher education from stable to negative two years ago.
Deans are often in the hot seat when it comes to those challenges. They must expand academic programs while keeping spending low. They must advocate for faculty budget requests while constantly explaining the fiscal realities to professors. They must be entrepreneurial in how they increase revenue and trim overhead while preserving the core mission of their college or division.
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