Towards a Five-Step Institutional Income Diversification Strategy for Institutions of Higher Education
Date
2010
Authors
Baligidde, Samuel H.
Journal Title
Journal ISSN
Volume Title
Publisher
African Journals Online
Abstract
This paper discusses the strategic perspectives of financial management which are highlighted in a
five-step Institutional Income Diversification Model for Institutions of Higher Education. It focuses on the
need for adopting or strengthening corporate principles of financial management, corporate methods of raising
capital, establishment of income generating activities, strategic acquisitions, institutional mergers,
establishment of commercial projects, treating higher education as an export and involving students and other
stakeholders in the financial resource mobilization drive. It argues that, in order to tackle the challenge of
inadequate funding, Institutions of Higher Education should re-examine their priorities, re-organize their
financial management structures, re-orient their administrative processes and diversify their income sources.
This will necessitate a change from the highly bureaucratic organizational design of most of the institutions to
a corporate model that pays attention to market forces and private sector principles of financial management.
Description
Keywords
Higher education, Funding, Institutional management