Which belongs to the university? to UP?

This question has been really hot among discussions with some students, in my experience

Does CBA (college of business administration) deserve to be in the University?

Background:

• The purpose of universities before was to produce knowledge. Seems like these days the meaning of a university changed into an institution which provide only diplomas for the professions.
• Can CBA help for the benefit of the university and the country; or for the transnational corporations waiting for docile graduates to work for them?
• The current officials of UP admin were from this college. How do they see the university? Didn't Roman and Cao focus only on the perspective of economics and efficiency while neglecting important aspects of university life and the core role of UP in Philippine society?