Although each institution is organized differently, nearly all universities have a board of trustees; a president, chancellor, or rector; at least one vice president, vice-chancellor, or vice-rector; and deans of various divisions. Universities are generally divided into a number of academic departments, schools or faculties. Public university systems are ruled over by government-run higher education boards. They review financial requests and budget proposals and then allocate funds for each university in the system. They also approve new programs of instruction and cancel or make changes in existing programs. In addition, they plan for the further coordinated growth and development of the various institutions of higher education in the state or country. However, many public universities in the world have a considerable degree of financial, research and pedagogical autonomy. Private universities are privately funded and generally have broader independence from state policies. However, they may have less independence from business corporations depending on the source of their finances.
What kind of board does a business commonly have?