In April 2013, we launched The William & Mary Promise, an innovative operating model meant to sustain our progress as a leading liberal arts university by enabling William & Mary to become more financially self-sufficient in the face of reduced public funding. As President Reveley noted in a message to campus, "The Promise calls on the whole William & Mary family to contribute in the ways each of us can contribute: students through tuition, alumni and friends through philanthropy, and faculty and staff through productivity gains in our work on campus. We will all benefit from our common success."
W&M's emphasis on operational excellence builds on several initiatives launched in the past few years to promote innovation in our business processes, to seek new sources of revenue and to reallocate funds to the university’s highest priorities. As the President has noted, "We have a long history of innovation. And we are recognized for our impressive stewardship of resources: According to U.S. News and World Report, we are ranked 32nd for our performance and 114th in resources; no other university has a gap between performance and resources that comes close to that. Recently, we have made progress in reallocating funds, finding net new revenues and exploring creative adaptation. We want to build on that success. Even a leader can always improve."
President Reveley has emphasized that, "The W&M business initiative will be a long-term effort extending over several years. We are looking for improvements that can be sustained over time." The business innovation program is guided by a 13-member steering committee, co-chaired by the Provost and the Vice President for Strategic Initiatives and including faculty, staff, a student and a member of the Board of Visitors.
Your reactions and thoughts will be important as the business innovation process moves along. We hope you will share your thoughts directly with members of the steering committee or by leaving messages on the comment page.