Joe Foudy passes on this wonderful piece by Aswath Damodaran. One of the highlights (lightly edited):
The essence of a business to me is simple. If you have a mission to accomplish, a product or service that you offer in pursuit of this mission and consumers that buy that product or service from you, you are a business. If the sales pitch of universities is to be believed, their primary mission is to educate, the product they offer is a university degree. Thus, it seems to me incontestable that education is a business and students are the customers.
Aswath also provides free links to his courses.