Developing a New Corporate Model to Govern UWI Subsidiaries

Abstract

Most non-profit universities are incorporating new strategic management structures to improve organisational performance and profitability. Corporate governance models are being adapted for improved academic efficiencies and effectiveness. These models focus primarily on innovation, entrepreneurship, and wealth generation while enabling more stakeholder participation in the university’s management. Against a backdrop of declining student enrolment, the rising cost of education and inadequate government subventions, universities are forced to develop innovative ideas, systems, structures, and policies to better govern its companies.

With data derived from case studies of corporate models of select international universities and a situational analysis of the core functions and organisational structures of all The University of the West Indies’ (UWI) subsidiaries, the authors designed a novel, two-tiered corporate governance model, to better structure and align the increasing number of university subsidiaries. Once implemented, this model will change the way the university engages with industry while restructuring its systems for improved organisational performance.