Leaders considering a merger must wrestle with mission consistency, vision, and institutional capabilities – the fundamental considerations of what may be gained and what will be lost.
Three strategies for leaders to consider:
- Trustees must uphold their fiduciary duties to mission sustainability, financial assumptions, and board readiness for a merger to proceed.
- Presidents shape vision and purpose. They must consider the options and implications of each – and the expectations of all stakeholders – if a merger goes forward.
- The Chief Financial Officer should assess the strengths and vulnerabilities of the school’s financial position and models over the short-, medium-, and long-term.
Question for Consideration:
What should you be asking yourself and other stakeholders – and when?