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Strategic planning and financial planning are highly interrelated and interdependent disciplines. Institutional financial literacy creates the perfect environment and means of communication in which an integrated strategic financial planning process can thrive.

Promoting financial literacy serves two important purposes. First, it makes everyone aware of the institution’s current financial health. Second, it makes everyone aware of what will be required to ensure the institution’s financial health over the long term.

The many forces driving some hospitals to financial distress make it impossible to maintain the status quo. Leaders can move beyond a binary close-or-don’t-close decision to reconsider what it means to deliver healthcare in communities that struggle to support a hospital.

Some colleges are pursuing athletic program expansion to boost enrollment and tuition revenue. The key question is whether this strategy will boost the institution’s financial performance as well.

This past year in higher education has been fraught with challenges, both new and chronic. A focus on objective assessment, planning, and preparation will be vitally necessary to survive the ever-changing weather of higher education.

Higher education is facing a crisis of confidence in the value of a college degree, with risk implications for enrollments, tuition pricing, and capital spending. Avoiding these risks begins with finding and quantifying the appropriate “corridor of control” for your institution.

Hospital leadership faces an undeniably hard challenge: regaining financial stability, finding a relevant post-Covid competitive vision, and energizing teams with a renewed sense of purpose. But fighting back is the hospital job of the moment.

Financial reserves are essential to the sustainability of any college or university. Integrating reserve goals to strategic planning through development of a strategic financial plan helps ensure that sufficient reserves will be available to meet the institution’s needs.

During times of financial challenge, hospitals tend to aggressively cut back on both planning and the execution of overall strategy. But is this the right road for hospitals to take at this time?

The environment in which higher education is operating is creating the need for new thinking and strategies. Institutions may need to swing big and hope for a home run.

Publication of the academic catalog for the 2024-2025 academic year may seem a long way off right now, but now is the time to start thinking about an academic portfolio review to ensure...

All organizations, including America’s hospitals and health systems, need to confront the fact that no strategic plan lasts forever.