Column Prof. Dr. Sylvester Eijffinger Opening Windows Prof. Dr. Sylvester Eijffinger Full professor Financial Economics In collaboration with Annemarie Hinten-Nooijen Understanding Society. It seems so obvious for a university as a community of researchers. But as the years go passing by, the motto of Tilburg University really seems to be a very good and important indicator for the next years of our university. The coming government will carry through huge reforms and will introduce an austerity policy in the field of higher education. Visibility then is very important. What do we have to do as a university in this changing society? When the authorities withdraw from funding higher education, one has to attend to the raking in of money from the private sector. What is the future of the university? We have to get rich private individuals and companies involved. To succeed in that, the relations have to be good. We have to be recognizable for the outside world. Researchers should open their windows and take advantage of their knowledge and insights in the direction of society, and they simultaneously have to let questions of society get into the world of research. When professors have new research data, how do these become recognized? It is all about valorization. In the future we should judge researchers on the basis of the triangle of education, research and valorization. And this third aspect has to be valued in time and means. To improve the process of valorization there has to be a strategy for valorization, so that a large part of research and education is visible in the outside world. Then it will be a sustainable third aspect of the core business of our university. In line with that, at every new appointment of a professor not only should there be given weight to the research output, but also to the effort for the common good, because that is what valorization in fact is about. We have to ask ourselves: ‘Do we want this person as a colleague?’. That someone has many A-publications is a necessary, but not a sufficient condition. Besides, when you remunerate academics particularly for their individual performances, and when you strictly concern and weigh every single task they do and measure everything in parameters, the contribution to the common good decreases markedly. Do we appoint new colleagues explicitly because of their contribution to the common good or not? The valorization activities should also get their way into the education. When professors richly share these activities with their students, they contribute to the creation of a real universitarian community people with a common bond intent on endeavors that may not always have clearcut benefits in the strictest sense of the word. And society increasingly demands of university graduates not only knowledge and expertise, but also the ability to apply their knowledge and insight creatively and responsibly. So a focus on valorization could successfully prepare graduates for their responsible role in society. With valorization the golden rule should be: fundraising is friendraising. We should therefore raise as many friends as possible. Understanding Society Academic Forum where science meets society and life Expand your horizon, take the time to reflect www.tilburguniversity.edu/academicforum Asset Magazine 43