Sales are vanity, profits are sanity
I have never thought of extreme importance of
financial literacy in addition to high quality teaching and research in higher
education institutions. It is interesting to know about the availability of myriads
of non-state ways of generating resources. Now I realize the reasons of
establishing for-profit institutions and how hard they work to keep their
position. This finding made me understand the scope of work and responsibility
of financial aid offices in interacting with parents of students.
Thinking about the effectiveness of diversified
sources of money resources in Kazakhstani context, I see little indication of the
mechanisms of generating resources in order to supplement the insufficient
revenue available from the government. It goes without arguing that financial
stability ensures flourish of teaching and research, especially research has
proved to be one of important determinants of financial success. The latter
also requires bulk of investment, in other words, lion’s share to support
innovation and initiatives. There seems to be no alternative except tuition
revenues, to which there has been heavy reliance since the radical decline in
public expenditures from 1991 to present. Universities witnessed the situation
of so-called “vicious circle” when over reliance on tuition fees and revenues
reflected in low quality of education, unpreparedness for university
requirements and bad academic performance of students. Unfortunely, majority of
capable high school leavers lost the chance to become a university entrant,
instead, were forced to join workforce.
It is crucial to develop sustainable strategies to be
successful in market-based economy. Among “commercial” alternatives, it is
possible to mention selling products and service, renting commercial ventures and
even develop pricing policies for the sake of renewing investments and
enhancing academic function of institutions (Shattock, 2010, p. 58). In other
words, there must be well thought approaches of wisely managing the money
received from significantly rising costs. Now we know why there seems no end to
stop rising costs.
References
Shattock, M. (2010). Managing successful universities.
McGraw-Hill International.
You have a confident writing style and you do a nice job supporting your ideas with evidence, connecting and linking sources to your main argument.
ReplyDeleteTake a look at this except for sentence clarity and articles (I've added gaps). "It goes without arguing that financial stability ensures ____ flourish of teaching and research, especially research has proved to be one of ____ important determinants of financial success. The latter also requires ____ bulk of investment, in other words, lion’s share to support innovation and initiatives." The first sentence is a comma splice. The second is a bit wordy, like you are just trying to find any reason to use "lion's share"..is it necessary to repeat?
Bilim, your post attracted me for its writing style - not too formal or informal, just right!
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