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The term "chief business officer" is sometimes used to describe the role of the top business executive of an academic or research institution such as a university, college, institute or teaching hospital. The chief business officer title itself is not yet commonplace in American higher education with the title of director or vice president most frequently applied to the executive serving in the chief business officer role. As a result of recent corporate scandals, the use of corporate titles has been losing favor in the academic community. The executive serving in the chief business officer role is generally responsible for the administrative, financial and operations management of the institution often combining the roles of chief administrative officer, chief financial officer and chief operating officer. The executive serving in the chief business officer role is also usually one of the highest ranking executives in an academic or research organization, often overseeing strategic planning in addition to budgets, finances, contracts, human resources, procurement, compliance, real estate, facilities, and information technology.
Many college and university business executives hold advanced academic degrees or top professional certifications and continue to participate in academic research or consulting projects in their areas of expertise. Job experience for the chief business officer role is generally gained, on the job, at the department, unit or program level prior to advancing into a chief business officer role although business officers at all levels are sometimes hired from private industry, government or other non-profit organizations.
Educational requirements for the chief business officer role vary by institution. Many higher education business executives hold a Master of Business Administration[citation needed] degree while others hold business specialty designations such as the Certified Management Accountant (CMA), or Certified Public Accountant (CPA).
See also
- Chief administrative officer
- Chief financial officer
- Chief operating officer
- Certified Management Accountant
- Certified Public Accountant
References
Association of College Administration Professionals (ACAP)
National Association of College and University Business Officers (NACUBO)
NACUBO Reports and Papers, Developing in the Role of Chief Business Officer- A National Study
The Chronicle of Higher Education
University Business Magazine, Chief Business Officers Speak Out, October 2008
Business Officer Magazine, A Learning Agenda for Chief Business Officers, May 2001
The Other Career in Education; College Administration Is a Promising Field With a Personal Touch, The Washington Post, August 20, 2006, Rebecca R. Kahlenberg.
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