Page 27 - UNAM Strategic Plan (REVIEWED) 2019-2024

decisions. With the BSC, we shall be reviewing our business at least once per semester

to monitor and improve strategic planning at levels of the Institution.

7.1.2 Increased revenue
The resources needed for the University to function optimally are limited, and are fast

diminishing. State funding of public universities has decreased. We shall thus devise
and implement alternative strategies to raise the revenue base of UNAM.

The first stream of income is primarily government subsidy. This is followed by income

from tuition and hostel fees. The source of third income is research, consultancy and
sundry income, such as rental, application, registration, library, fines, etc. A fourth

income stream is expected to be Inceptus and other business ventures.

Therefore, UNAM will ensure full implementation and operationalisation of its
commercial entity (Inceptus), which serves as the trading body for the

commercialisation of UNAM intellectual property, assets and business ventures. In the

long term, this entity should contribute significantly to the financial sustainability and
stability of UNAM.

7.1.3 Improved administrative management

The University will improve the line of communication, to ensure effective and timely
decision-making. It will coordinate its established strategic initiatives for meeting goals

and ensuring customer satisfaction, including staff and remuneration issues and
periodic evaluations of institutional performance. UNAM will institute measures to

improve administrative management.

7.1.4 Improved corporate governance
The University will balance the interests of all stakeholders by strengthening

accountability and effective financial planning. Poor and ineffective corporate
governance does not only affect the University financially, but could also result in

costly legal and reputational harm. Accountability is one of the core values of UNAM;
therefore, UNAM will strive to provide detailed disclosure to relevant bodies. The

institution commits to providing a proper account of its financial position,
performance, and shareholder relations, and an uncompromising commitment to

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