Higher education has multiple goals of character building for social development, skill building for national development and teacher competency building for education development. Higher education today faces many challenges some of these include balancing between quantitative and qualitative aspects of education, increasing enrolment and at the same time providing employment, coping with fast changing technologies and incorporating them in the curricula, having systems of internal governance that encourages innovativeness, reluctance of client systems to participate in improving education and simultaneously growing expectations from higher education etc. In this paper it is proposed that Faculty Development and Institutional Leadership are two important keys to the excellence and efficiency in higher education. This paper highlights some of the current practices of educational planning and their limitations. The Paper also makes suggestions for professionalisation of management and administration of higher education and points out to the areas of international cooperation.