Profit is generated when the costs of performing a task, service, or goods are less than the revenues the organization can generate from sales of the task, service, or goods. The ability to generate profit is the foundation of capitalism and drives modern businesses and advancements in today'...
The three types of boards (with sometimes overlapping roles) include governing, fiduciary and advisory. A set of legally binding rules called bylaws dictates the role of a board and the actions of its members. The following narrative delineates the hierarchy of higher education boards, their roles...