“…Although the applicability of business models in universities has attracted many researchers such as Dearlove (1998), Mattheou & Saiti, (2005), Reponen (1999), Rochford (2001), Saitis (1997), Sanyal, Martin, & D'Antoni (1996) and so forth, there is much skepticism regarding the application of a business management system to higher education (Bessant, 1995;Reponen, 1999;Rochford, 2001). These doubts have their roots in the differences between the nature of business managerial style and the collegiate styles of universities (Baldridge, 1971;Pitman, 2000), most notably in the decision-making processes.…”