Responsibility Center Management, A Guide to Balancing Academic Entrepreneurship with Fiscal Responsibility

Multiple economic and political forces have driven universities to change how they fund and finance education and research during the last 50 to 60 years. The advent of Responsibility Center Management (RCM) in the late 1970s and early 1980s coincided with a poor economy that had adverse impacts on investments, employment, and state revenues. Similarly, the economic recession of 2008—and its lasting effects—prompted many universities to seek greater efficiencies and unleash their entreprene...