Embedding income diversification in the institutional strategy

Enora Bennetot PruvotProgramme Manager

Governance, Autonomy & Funding

“Governance and Diversification of Funding in Higher Education”

University of Cyprus09.03.2011

Key questions

Which are the internal obstacles to overcome?

What do universities do about income diversification?

Suggested step-by-step approach to integrate income diversification in the overall strategy of the university

Priorities

Integrating income diversification in the university’s strategy

1. Identify the strengths & specificities of the university to develop a branding strategy – strategic approach

2. Analyse perspectives for income generation of your activities

Activities

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Integrating income diversification in the university’s strategy

3. Invest in people, leadership and management Professional HR & staff recruitment

Investment in new positions at all levels

Define leadership roles

4. Communicate Internal communication External communication

Integrating income diversification in the university’s strategy

5. Change structures and organisation Creation of specific units Reorganisation of governance structure Clear lines of delegated authority to support the need for rapid and

responsive decision-making Rationalisation of layers of management / committee cycles Investment in information monitoring and reporting tools

6. Provide internal incentives Individual rewards and incentives Faculty/departmental rewards Seed money Support to academics

Some aspects to keep in mind

1. Additional funding cannot replace sufficient public funding

2. To foster diversification, upfront investments are necessary

3. All actors need to work together!