ABSTRACT
Universities are educational institutions first and foremost, but universities are also complex business organizations. The educational mission can be fulfilled only with sound business practices, but that mission cannot be undermined by business considerations. The two identities must be carefully and strategically integrated. This chapter discusses successful business principles and practices that are scalable to other universities. The overriding concept is that students ought to be the primary beneficiaries of higher education funds and that the money should stay as close as possible to the students, rather than in support of bureaucracies at a far remove from the classroom.
