Originally Posted by Yachtzee
Last I checked, most universities are registered as non-profit institutions without an ownership structure, where all revenues are put back into the university. Not exactly a normal structure used by a business. If they were businesses, they'd have private owners or shareholders and profits left over after expenses would be distributed to the owners rather than reinvested in the institution.
When your company/business/institution is moving around hundreds of millions to billions of dollars, they are certainly operating a business. They are paying employees, they are selling a product. Just because they aren't sharing some profits and are taking any "profit" and just placing it in a general fund doesn't change that they have employees and are selling a product.