Corporate Governance in Saudi Higher Education According to 2030 Saudi Vision
Haneen Ali Asel
Department of Business and Administration, College of Administration and Finance, Saudi Electronic University SEU, Saudi Arabia
Due to current globalization trends and economic changes, countries are increasingly facing the task of diversifying resources in order to improve their economic status while improving sustainability. Saudi Arabia has been facing significant changes and challenges. As a result, the importance of improving the quality of higher education in Saudi Arabia became an urgent necessity. The author argues that the principles of higher education governance need to be applied to attain best results that support the Saudi 2030 transformational vision. This paper discusses corporate governance in general. Then, it presents the current governance systems of universities in Saudi Arabia. The final section discusses higher education governance in Saudi Arabia under the light of the Saudi 2030 Vision. This study aims to test the extent of the university of Jeddah employees’ understanding of the main principles of governance. Key corporate governance principles applied in this study are the following: transparency, accountability, and effective participation. The study shows that employees’ knowledge of the principles of higher education governance varies depending on the university’s management system, which indicates that Saudi universities in general need to develop strong governance systems in order to achieve the goals of the Saudi 2030 transformational vision. The author offers several recommendations to help universities design improved governance systems.
Keywords: governance, corporate governance, economic growth, transparency, higher education governance, Saudi 2030 Vision.