Positioning Colleges and Universities for Future Success
Edited by Madeleine B. d’ Ambrosio and Ronald G. Ehrenberg
Chapter 6: Perspectives on Transformational Change from the TIAA-CREFF Experience
6. Perspectives on transformational change from the TIAA-CREF experience Herbert M. Allison Jr The theme of the TIAA-CREF Institute’s 2006 conference, Transformational Change in Higher Education: Positioning Your Institution for Future Success, reﬂects the unprecedented set of challenges facing the great majority of America’s universities and colleges. Over time, every institution is confronted with challenges which require it to change. For the past 25 or 30 years, corporate America has had to confront growing pressures for change – technology, globalization, transformation of the workforce, new regulations, and the growing ‘power’ of shareholders, to list a few. Some leading companies have coped well, but most have not, so there has been remarkable turnover in the composition of the Fortune 500. Even venerable companies are faltering as they try to manage in a new competitive environment. For higher education, the decades to come may bring changes just as dramatic. Some of the forces for change are similar to those in industry – technology and globalization, for example. Other forces, some of which were discussed throughout the conference, are diﬀerent: funding; the widening gap between investment returns of large and small endowments; the possibility for taxation of some schools’ activities; and changes in laws on aﬃrmative action. A wide variety of institutions were represented at the conference, each with a distinct mission and challenges. Each institution must chart its own course, so I am not going to presume to suggest solutions. What I can describe is the general challenge of leading change,...
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