Scanning Your Financial Environment

For this Discussion, you will take on the role of an administrator or manager in an education department at a college or university. As a group you are to collaboratively determine:

What strategies would you use to scan your internal and external environment for strengths, weaknesses, opportunities, and threats?
How would you structure a collaborative process among stakeholders to understand your environment?
How would you ensure that the knowledge you gain of your financial environment directly informs your decision making and management; that is, how would you apply this knowledge?

Required Readings

Goldstein, L. (2019). College and university budgeting: A guide for academics and other stakeholders (5th ed.). Washington, DC: National Association of College and University Business Officers.

Chapter 2, The Political and Regulatory Environment
Chapter 3, The Economic EnvironmentFocus on the various internal and external factors in the environment that impact the context in which financial decisions are made.

database:

Focus on the trends in college and university spending and revenues, and how spending and revenues interact with enrollments and degree completions.

Accreditation as a Catalyst for Institutional Effectiveness by Dodd, A. H. in New Directions for Institutional Research, 2004(123). Copyright 2004 by John Wiley & Sons, Inc. Reprinted by permission of John Wiley & Sons, Inc. via the Copyright Clearance Center.

What about the Rest of Us? Small Colleges in Financial Crisis by Chabotar, K. in Change: The Magazine of Higher Learning, 42(4). Copyright 2010 by Taylor & Francis Informa UK, Ltd. Reprinted by permission of Taylor & Francis Informa UK, Ltd., via Copyright Clearance Center.
Focus on how colleges with small enrollment and low endowments cope with financial uncertainty.

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