Strategies Used to Financially Stabilize Historically Black Colleges and Universities

AbstractSome Historically Black Colleges and Universities (HBCUs) lack effective business strategies, creating barriers to student success and institutional financial stability Grounded in the complexity and systems theory, the purpose of this qualitative multiple case study was to explore strategies HBCU leaders use to sustain the financial stability of their institutions. The participants comprised six leaders of HBCUs, two leaders from each of the following states: Georgia, Louisiana, and Mississippi, who demonstrated success in developing and deploying effective business strategies to sustain financial stability. Data were collected from semistructured interviews, a reflective journal, and institutional documents. Thematic analysis was used to analyze data, and three themes emerged: (a) student enrollment and retention, (b) fundraising, and (c) institutional operations strategies. The key recommendations for HBCU leaders are to implement student retention and customer service programs to develop students holistically, implement alumni and fundraising programs, and require staff and faculty to provide great customer service. The implication for positive social change includes improving access to high-quality post-secondary education programs to improve socio-economic outcomes for students, faculty, and staff in and around the community