This study is an investigation of the importance of institutional goals as perceived by the faculty and students in Chung-ang University in Seoul, Korea. The purposes of this study are (1) to determine if significant differences exist between the perceptions of faculty and students as to the present and ideal institutional goals of the university, (2) to determine if significant differences exist between the perceptions of faculty and students of different colleges as to the present and ideal institutional goals of the university, and (3) to determine if significant differences exist between the present and ideal institutional goals as perceived by the faculty and students within each of the colleges of the university.