The Case for a More Strategic Financial Management System
Modern research universities are among the most complex institutions in society. Most have multiple colleges, with arts and sciences at their core, and include numerous professional schools teaching undergraduates and professional graduate students, with large research enterprises led by faculty who are training doctoral students. All endeavor to attract the most talented staff and students. They strive for excellence in everything they do and, as Howard Bowen described in his 1980 book, they spend every penny they have to do so; this reality has become known as Bowen’s law.
Originally published: January 11, 2024
Author: Robert A. Brown
Position: President Emeritus
Institution: Boston University
Published by: Inside Higher Ed