Building a Sustainable Future-Ready University: Ideas and Perceptions of a Financial Manager
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Date
2024-12-17
Authors
Odekunle, L. A.
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Abstract
The concept of a 'future-ready university' has emerged as a central focus in today’s educational landscape, presenting both a renewed emphasis and a transformative frontier in higher education discourse and management. The post-pandemic era, marked by rapid technological advancements and global economic challenges, has intensified the need to rethink universities' roles and their readiness for the future. A university is deemed future-ready when it not only addresses today’s challenges but also remains resilient and adaptable in overcoming the uncertainties of tomorrow. Among the sustainability factors contributing to the future readiness of a university, financial sustainability appears to stand out as a critical cornerstone as I view through the lens of a financial manager. By the definition of the United Nations, sustainability encompasses three key pillars: environmental stewardship, social responsibility, and economic viability. In the context of a university, economic viability specifically refers to the institution’s long-term financial sustainability, ensuring that the university can support its academic mission and future growth. This financial sustainability is driven by scalable, adaptive, and growth-oriented financial management, which empowers universities to expand their resources, programs, and infrastructure in response to evolving demands. Such financial agility ensures long-term viability, institutional resilience, and global competitiveness. For Nigerian universities, the discussion around future readiness is particularly urgent. These institutions face significant financial hurdles, including limited government funding, growing demand for higher education, and intensifying global competition.
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Ex-UNILAG Bursar Offers Strategies For Sustainable ‘Future-Ready’ Varsity System. A Lecture Delivered at the Grand Finale of this Year’s UNILAG Bursary Day 2.0., which took place at the Rahamon Bello Hall of the university by Odekunle, L.A.
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Odekunle, L.A. (2024). Building a Sustainable Future-Ready University: Ideas and Perceptions of a Financial Manager. A Lecture Delivered at the Grand Finale of this Year’s UNILAG Bursary Day 2.0., which took place at the Rahamon Bello Hall of the university.