Oxford University Press is rather like Silverstone Circuit, a successful commercial organisation owned by a body whose objectives are rather different from those of a regular business owner. The fact that it has been a roaring success and is now able to pay Oxford University - its owner - a stipend of £60 million is an indicator of how intelligent commercial management can thrive outside what might strictly be called the commercial sector.
The fact is that OUP does not operate like a Pearson or a Reed Elsevier. It will publish books and pamphlets that would never be expected to make a profit, something that would be anathema to a commercial publisher, which would be run essentially for the profits that it can deliver to its shareholders. This does not mean it cannot be a success, as has been shown by the fact that it can pay this money to the university.
The similarities with Silverstone are striking. The owner of the racetrack - the British Racing Drivers' Club - has been accused of not maximising the track's commercial possibilities. However the BRDC is not run solely for profit, and it is more important to it that veteran car rallies take place at Silverstone than more profitable events. Even so, Silverstone made £4.7 million last year.
This success should not be lost on the members as they consider whether to sell out to Brands Hatch Leisure, which made just £4.6 million of profit last year. .