Winner of the 2012 ASHE/CAHEP Barbara Townsend Lecture AwardTo prosper and thrive in an increasingly unpredictable national and global environment, U.S. higher education will need to adapt, innovate, and evolve once again, as it has during every major societal change over the past four centuries.The purpose of this new edition, published a turbulent decade after the first, is to provide institutional leaders -- from department chairs to trustees -- with a broad understanding of the academic enterprise, strategic guidance, and key principles, to assist them in navigating the future and drive the success of their institutions as they confront the unimagined.Recognizing that the hallmark of higher education in the U.S. is the diversity of institution types, each of which is affected differently by external and internal influences, the authors provide examples and ideas drawn from the spectrum of colleges and universities in the not-for-profit sector.This book covers the major functions and constituent departments and units within institutions; the stakeholders from students and faculty through the echelons of administration; the external environment of elected officials, foundations, philanthropists, and the new changing media; and innovations in teaching, technology, data analytics, legal frameworks, as well as economic, demographic, and political pressures.The book is informed by the proposition that adhering to four principles--which the authors identify as having enabled institutions of higher education to successfully navigate ever-changing and volatile pasts--will enable them to flourish in the coming decades: The four principles are:1. Be mission centric by making all key decisions based on a core mission and set of values.2. Be able to adapt to environmental change in alignment with the mission and core values.3. Be committed to democratic ideals by seeking to promote them and modeling democratic practices on and off campus.4. Be models for inclusion, equity, and positive social change.