The extent to which a HEC becomes involved with policy formation depends in large measure on the credibility the committee has within the institution. Although on the basis of training, insight, or experience the HEC is in an ideal position to formulate policy, premature involvement in this area can jeopardize the effectiveness of the HEC in other areas which are equally if not more important. To the extent that the HEC does engage in policy formation it must do so with (...) considerable political as well as ethical acumen. (shrink)