Tuesday, March 16, 2010

A Case Study in Bad University Management:

How to Go From Fundamentally Sound

in October 2008

to Financial Crisis in 18 Months

I thank a friend for suggesting this post.

I hope the people at the Carlson School of Management at the University of Minnesota will use this as a case study. It is an excellent example of an institution digging itself a deep hole through poor priorities and lack of transparency about what is being done with money.

From my post in October, 2008:

The University's Financial Health,
Or Our Finances are Fundamentally Sound...

Executive Summary: The financial situation at the university is fundamentally sound. This is because of careful strategic planning and financial management.

"I want to assure you that, through careful strategic planning and financial management, the University is positioned to weather this current storm. Make no mistake: local and global economic challenges will impact the U—but the University community is responding decisively to ensure our future financial strength, encourage investment in the U, protect our employees, and continue to reward performance." President Bruininks

And we spent five million dollars [ten by now] on MoreU Park and five million on Driven to Discover. And on athletics...

And where exactly would "ambitious aspirations to be one of the top three public research universities in the world" fit into that, Bob? This goal is inappropriate for a land grand university under severe financial pressure. Are you ready to finally admit that our priorities need some serious community discussion or is a monologue sufficient?

... does this administration know how to operate in a time of scarce resources, Bob? Lead, follow, or...dissemble?

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