When University Business editors interview senior higher ed administrators, one of the questions we like to ask is, "What was your smartest business decision?" Over the years that question has yielded a wide range of responses, from the seemingly trivial (such as not delivering junk mail to campus mailboxes) to the far-reaching (energy studies to maximize facility use).
What follows are 30 Smart Business Ideas culled from conversations with higher ed leaders that can easily be adopted at most any institution. You'll find 26 more suggestions in the online version of this article here. And if you'd like to submit your institution's own smart business idea, drop us a line at editorial@universitybusiness.com, with "Smart Business Idea" as the subject line.
FACILITIES, OPERATIONS, PURCHASING
1. Build facilities with shared use in mind. RiverPark Art and Theatre Complex, created as the foundation of a new downtown arts campus for Columbus State University (Ga.), has played a major role in revitalizing downtown. Other building types with shared use potential include continuing education centers, fitness centers, libraries, museums, parking structures, and stadiums.
The Takeaway: Besides the potential for shared funding, opening up a campus facility to the community often means maximizing the building's use (giving a nod to sustainability principles) and building goodwill (which not only feels good but can come in handy on future zoning requests).
2. Be smart about studying your economic impact. Economic impact studies can encourage funding, support development, and foster town-gown relations. Interested in carrying out a study? Do your homework first. Consider an outside firm to conduct the study to ensure confidence and reduce skepticism in your constituents. Just don't file it away after it's complete. The College of William and Mary (Va.) used its study as a starting point for an in-depth analysis of the value of the college's community volunteers and outreach efforts.
The Takeaway: Having specific numbers to mention pays off big time.
3. Junk the junk mail. Like other institutions, the University of Idaho processes and distributes large volume of bulk mail, nearly all of which recipients immediately toss in the garbage. Starting next month, all bulk mail from sources outside the university will get recycled immediately rather than get distributed across campus. Major sources of bulk mail will be informed of the new practice and asked to stop their mailings. Also, on a department-by-department basis in an effort to encourage e-mail communication, students and staff will have the chance to opt out of bulk mail originating from on-campus sources.
The Takeaway: The move will save staff time, decrease fuel and equipment use, and decrease the volume of campus waste to be processed.
4. Ease the classroom space crunch. Geneva College (Pa.) officials subdivided larger classrooms and opened class sections during lunch after a classroom utilization study determined that only 13 classrooms on campus were used more than 67 percent of the time. Harvard and Brown have freed up classroom space by moving administrative functions not directly related to teaching off campus. And space analysis software helped Boise State University (Idaho) discover underutilized classrooms; it turns out they were poorly maintained, and spiffing them up made them a hot commodity among faculty and students.
The Takeaway: Maximizing classroom space makes for happier faculty and students as well as better utilization of campus facilities, which can mean energy savings.
5. Think electric for campus cars. University police, the parking facilities division, computer services, the mailroom, the trades division, and the maintenance department at Purchase College (N.Y.) all use Global Electric Motorcars to get around campus.
The Takeaway: These cars save a significant amount of fuel. Vehicle maintenance costs are also down, since the cars use variable-speed electric motors rather than internal combustion engines.
