Embedding income diversification in the institutional strategy

1. Embedding income diversification in the institutional strategy Enora Bennetot Pruvot Programme Manager Governance, Autonomy & Funding “Governance and Diversification of Funding in Higher Education” University of Cyprus 09.03.2011

2. 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

5. Priorities

6. Integrating income diversification in the university’s strategy • Identify the strengths & specificities of the university to develop a branding strategy – strategic approach • Analyse perspectives for income generation of your activities

7. Activities

8. Integrating income diversification in the university’s strategy • Invest in people, leadership and management • Professional HR & staff recruitment • Investment in new positions at all levels • Define leadership roles • Communicate • Internal communication • External communication

9. Integrating income diversification in the university’s strategy • 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 • Provide internal incentives • Individual rewards and incentives • Faculty/departmental rewards • Seed money • Support to academics

11. Some aspects to keep in mind • Additional funding cannot replace sufficient public funding • To foster diversification, upfront investments are necessary • All actors need to work together!