Corporate universities, like other lines of business within an enterprise, have customers and other stakeholders whose wants need to be satisfied. They operate in an environment subject to demographic, technological, and political trends that could affect their business. The leaders of corporate universities need to define the business situation they face so as to leverage their university's strengths, minimize its problems, actively seek out and select opportunities, and protect against threats. To treat a corporate university as a staff function or support activity is likely to lead to the demise of the university. Corporate universities - if they are to persist past a faddish stage of lip service to "learning organizations" - should be managed as lines of business serving the learning needs of internal, and at times external, personnel.