CORPORATIZATION OF UNIVERSITIES: PROMISES AND CHALLENGES FOR COMMUNITY ENGAGEMENT

Corporatization of universities is a widespread phenomenon that encourages universities to thrive without public funding. With corporatization, universities that enjoy public funding are likely to see a drastic cut in the funding sources. Ideally, this major reduction in public funding should be compensated by private funding sources. By implication, the public universities will need to come at par with the private universities in terms of managing student expectations. In UK, Lord Browne’s education review team clearly states: “We are relying on student choice to drive up quality. Students will control a much larger proportion of the investment in higher education. They will decide where the funding should go; and institutions will compete to get it. As students will be paying more than the current system, they will demand more in return.” (Willetts, 2011