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University administrators of nonprofit higher education private institutions face challenges to maintain financial stability as the projected tuition revenue is expected to decline over the next 15 years. In addition, projected closure or mergers for all colleges and universities is expected to reach 50% by 2030. The purpose of this single case study was to explore the strategies higher education private institution administrators use to manage financial stability. Kaufman's complexity theory was the conceptual framework for this study. Purposeful sampling was used to select 4 university administrators from an Ohio higher education private institution for face-to-face interviews. Semistructured questions provided the basis for data collection to identify the strategies these administrators used to manage financial stability. Additional sources of data included strategic plans, financial responsibility scores, and operational budget reports. Through thematic analysis, 4 themes emerged: budgetary controls, a shift in marketing strategy, creating value, and competitive environment. Implications of social change includes the potential to provide possible business strategies to Ohio area higher education private institution administrators for the development and sustainability of financial stability, which could lead to improving the economic conditions for the local community. |
