Governance of higher education institutes
Pandey, I. M.
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Governance includes the issues of autonomy and accountability. In most countries, including developing countries, autonomy is being extended to higher education institutions (HEIs) in order to increase the flexibility which these institutions require to meet the needs of the society and the economy. Autonomy is the prerogative and the ability of an institution to act by its own choices in pursuit of its mission and goals. This ensures optimum allocation of resources for achieving the stated goals and missions of HEIs which are knowledge creation and dissemination. These institutions are missionoriented and although they have a significant impact on the economy and the society, their action and results are not directly measurable in financial terms. Autonomy encompasses three areas — academic, institutional, and financial. Academic autonomy is the freedom for faculty members to operate freely which would lead to intellectual wealth of great quality. Institutional autonomy includes operational freedom and freedom of decision-making by the institute's constituents. Financial autonomy means the freedom to raise and use funds according to its priorities and internal rules. An institution cannot have full institutional autonomy without financial autonomy. Allowing financial autonomy with accountability would assess the effectiveness of the institution in disseminating knowledge to its students.
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