Biz school plans to go solo by 2000
By Joe Jimenez
During a time when universities and programs are faced with drastic funding cutbacks, the Richard Ivey School of Business is determined to pave its own road.
A $75 million campaign aimed at enabling the school to be self-funded and improving its reputation was announced by the school this week.
The purpose of the Ivey campaign is to implement strategic initiatives supported by the school, said Bob Baker, stewardship manager at Ivey. Baker said the campaign focuses on three thoughts: self-sufficiency, key capabilities and building a world-class infrastructure.
Achieving self-sufficiency will allow Ivey to remain competitive internationally. Baker says $31 million of the $75 million will be used to recruit and support faculty and students by providing leading edge research and learning materials.
The $75 million will be raised without funding from the government and the school hopes to be totally self-funding within the next three years. The funds will be raised from corporations, Alumni and individuals with a long relationship with the business school, Baker said.
Greg Moran, Western's VP-academic, agrees with Ivey's goal towards self-funding. "I support the notion of alternate sources of funding where we can protect the academic values of the students," he said.
Enhancing key capabilities is another part of the Ivey campaign. $32.5 million will aid in areas critical to business such as creating and managing growth and internationalization. Baker said there will be a strong emphasis on Asia and the Americas.
The final goal of Ivey's initiative is to build a world-class infrastructure. The remaining $11.5 million will be used to establish a world-class electronic reference library, to expand a video conferencing network and implement a new technology platform for delivery of educational programs and services.
Jamie Mackay, director of the university branch of the Ministry of Education and Training, said the government doesn't really have a policy on the privatization of university programs.
However, Mackay said self-funded programs would be acceptable as long as the programs remain accessible to everyone. "Our concern is ensuring all students have access to all the programs."