The quality of education is related to two variables: professors and learning resources. Attracting top professors who regularly contribute to their field ensures the courses of study offered by the university are current and that the university is among those advancing the field, thereby improving its reputation. Attracting top professors can be done with research grants, incentives (salary, benefits) and culture (location of school, other professors). Learning resources are labs, equipment and other study aids, such as research facilities, that students and professors use.
Every school wants to increase their endowment. Raising capital can be done through tuition, government support or donors (corporate or private.) Schools with a very good reputation and an abundance of applicants can afford to have high tuition; schools that are looking to improve their reputation and attract students must be conscious of tuition fees and price them competitively. Petitioning government agencies (local, state and federal) for additional support is an ongoing job. Donors are the most viable way to increase endowment; corporate donors and wealthy alumni are the two best sources for donations. Both receive a tax benefit and can receive some publicity, for instance by having a new facility named after them.
Students care about the reputation of the school, quality of education, networking and job prospects the school offers. Building a strong recruitment center through cultivating relationships with related industries can go a long way in helping to attract top students.
Growing a university can be accomplished by expanding existing programs (accepting more students) and by adding additional programs of study. Adding additional programs is a long term goal and must be researched carefully to see what fields are going to be in demand in the future. For example, creating a Latin language department is unlikely to see much growth, as it is a dead language. Creating bio-medical and renewable energy programs are more likely to be increasingly popular fields.