When Marymount Manhattan College’s board of trustees decided last year to merge with Northeastern University, becoming a part of that Boston-based university’s global system, the vote was unanimous. As Jeff and Michael continue their ongoing exploration (some might say obsession) with mergers and acquisitions in higher ed, they talk to one of Marymount Manhattan’s trustees, Abby Fiorella, on this episode to get a board member’s perspective on how mergers can be strategic wins for smaller institutions, as well as key to protecting their core missions. This episode is made with support from Ascendium Education Group.
Relevant Links
“God and Man at Yale,” by William F. Buckley.
"The Abundant University: Remaking Higher Education for a Digital World," by Michael Smith,
Mission statement of Arizona State University
Mission statement of Southern New Hampshire University
“Why a University Proactively Sought a Merger," our other episode this season about M&A in higher ed.
Chapters
0:00 - Why Do We Keep Talking About Mergers?
3:50 - Introducing Our Guest, Abby Fiorella
5:17 - How to Prepare a Board for a Merger
9:19 - Deciding on Institutional Priorities
12:44 - What Is Marymount Manhattan College Doing to Preserve Its Identity?
17:17 - How Can a Board Come to Peace With a Merger?
21:40 - How Can Boards Make Mergers Less Taboo?
24:29 - Reframing Merging As an Opportunity
27:01 - Closing Thoughts From a Trustee
28:54 - Sponsor Break
29:38 - What It Means for a Board to Be Responsible to a Mission
36:21 - How Can Universities Put Mission Statements Into Practice?
38:52 - Why College Mergers Require ‘Courage’
39:21 - Making Time in Board Meetings for Strategic Planning
44:56 - The Role of Communication Between Presidents and Boards in Considering Mergers
47:59 - Why Most Boards Should Set Up Systems to Prepare for an Uncertain Future
48:37 - Lightning Round With Abby Fiorella
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