Shareholders and Stakeholders in Higher Education Institutions in Nigeria: An Analytical Perspective
Abstract
This paper analyses the concepts of shareholder and stakeholder often discussed in corporate organizations but have also found their way into the discourse of higher education governance in Nigeria. It x-rays the characteristics of these terms, considers their differences and highlights their similarities in the context of higher education institutions (HEIs). The point is explicitly made that while the word shareholder is associated with private-for-profit HEIs; both public and private HEIs have diverse stakeholders with different interests and conflicting interests. While both concepts are often used interchangeably as if they are the same, both should not be confused as there is a world of difference between them which has also been discussed in this paper. The paper distinguishes internal from external stakeholders and discusses in some details the significant roles each stakeholder group plays in the management of HEIs. It is believed that an understanding of their interests and roles is important to HEI managers to create value for each stakeholder group, manoeuvre through their differences and handle their diverse interests with utmost care and success. This ability and capacity will enable these managers to tap the strengths and resources of these diverse stakeholders to help revamp the curricula to produce graduates that are readily prepared for the labour market. Such a knowledge and understanding will also help such managers to meet their set goals, fulfil their vision, build up an enriched endowment, and in enhancing the development of infrastructure and the continued sustainability of quality higher education institutions in Nigeria.
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