Education is, perhaps, the most important change agent in a society .And accordingly; the institutions linked to education assume great importance for the cause of the welfare of the people. Unless the institutions deliver, progress on all fronts would be crippled. Given this context, institutional leadership and governance of academic institutions assume enormous significance. Research in this area has been plentiful and it suggests institutional failure as a major cause of societies going the wrong way and eventually degenerating.
The advent of globalization has not made things any easier, particularly, for the developing countries. Competition, wherever one looks, education included, has become the order of the day. This, in turn, means that the institutions and their characters have to be as per the dictates of these emerging scenarios. To attain prosperity today, they must understand the threats and opportunities that globalization has brought. Stakeholders are more knowledgeable and information oriented. Institutions must respond to these challenges by being more creative and innovative. Governance pertaining to education must, therefore, give due attention to these situations.