Business outcomes are easy - profits. University outcomes are complex and difficult to determine and evaluate. Businesses can and do fail, by hundreds. Universities cannot be allowed to fail. Universities must be moral leaders.
Businesses sell things - soap powder, lawn mowers or automobiles.
Businesses are not societal critics. Universities must be. While universities and their administrators have changed, so have faculty. Basically, faculty influence in colleges and universities has weakened to almost zero, not because of policy but because of practice. Faculty powers have simply been co-opted by others or let lie fallow.