Higher education is facing unprecedented stress. The combined effects of rising tuition, growing student debt and a challenging job market are raising serious concerns about the value of a college degree. At the same time, global competition and technological innovations are disrupting traditional educational models. Universities are under intense scrutiny as students, parents and legislators demand a more efficient, lower cost educational platform. No longer can universities expect to receive support with little accountability. Indeed, the insular ivory tower existence long cherished by universities is rapidly disappearing. This environment requires a radically different strategy, one that is guided by multifaceted leaders who not only understand academic culture but who also have a keen sense of business acumen. The purpose of this book is to both identify and analyze current challenges facing higher education and then to develop the requisite skill set for academic leaders to address them.Today's university requires leaders who not only understand and appreciate academic values, but who are also well versed in strategy, finance, human resources, external relations and fundraising. Some universities are looking outside academia to find leaders who possess the required background and experience. Faculty members strongly resist this external intervention but who among them is capable and willing to assume a leadership role? Most faculty members do not have the training, experience or even empathy to take on a leadership role, especially one confounded by the current mounting pressures. The discussion analyzes the tradeoffs facing a faculty member who is considering a leadership path and examines the strategies required to succeed in this rapidly changing environment.