For higher education institutions across the globe, change is the new normal. And while change always brings new opportunities, it also creates tremendous uncertainty. From volatile political climates to increases in regulation, the rapid proliferation of new competitors to anticipated labor shortages, every CFO today must be ready to face and manage the unknown.
The normal human response to uncertainty is avoidance or a cautious “wait and see” attitude. Yet in a fast-paced, frenetic business world, where higher education institutions can be disrupted in mere months, “wait and see” is no longer a viable business strategy.
While those who are reluctant to change are clinging to the old (“that’s the way we’ve always done it”), wise and visionary CFOs are already recognizing the need to step up and into Finance’s new role as a strategic business partner. Only those who bravely move forward, in spite of the unknown and armed with information, new tools, and a strategic plan, will reap the rewards.
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