The challenge of generating new wealth: a university agenda for the 21st century

• Main Author: Vaughan, Ann Marie
• Format: Others
• Language: English
• Published: 2009
• Online Access: http://hdl.handle.net/2429/8345

Canadian universities are experiencing a time of financial uncertainty and stress. How they cope in the next few years will have an impact on their leadership and management in the future. This thesis explores the financial challenge facing Canadian universities in the 1990s, strategies used to deal with financial uncertainty, and options for generating new sources of income (i.e., outside government, student fees and endowments). The primary research question investigated is: How can Canadian universities generate wealth through new income sources and what internal and external factors affect a university's ability to do so? This thesis is a case study of Memorial University of Newfoundland. Documents, reports, and speeches originating from Memorial University detailing financial stress were analyzed. In addition, from March to October 1997, interviews were conducted with twenty-five members of Memorial University's community. Interviewees represented members of the Board of Regents, members of Senior Administration, other administrators, faculty, and one student leader. The interview process was used to determine how successful Memorial University has been in responding to financial stress; whether income generation is possible for this university, and in what areas; and macro issues that impact the ability of the institution to generate new financial options for the future. These macro issues include the strengths and weaknesses of the university, cultural changes that may occur in a university that pursues new income sources, and the benefits and negative implications associated with generating new wealth. This case study found that income generation is possible and it may lead to greater flexibility in operations for universities. However, it is unlikely to make up for the severity of financial cuts that have been realized. This study also found that understanding the context in which the university operates and internal operations of the university are key to understanding both financial stress and the conditions that impact revenue generation. This study concludes with recommendations for further research and implications for policy and practice within universities. === Education, Faculty of === Educational Studies (EDST), Department of === Graduate