This report on the professoriate in American higher education explores how the use of faculty time is rewarded and, especially, what activities of the professoriate are most highly prized. Changes in the work of higher education institutions through the years--its movement from teaching to service and then research, are noted, as are conflicts resulting from institutions attempting to achieve competing goals. Concern is raised regarding the emphasis on research and publication for academic advancement. Four general views of scholarship are proposed: discovery, integration, application, and teaching. Institutions are encouraged to stress their unique qualities and strengths, and to reconsider the narrowness of the faculty reward system. The report's seven chapters have the following titles: "Scholarship over Time"; "Enlarging the Perspective"; "A Mosaic of Talent"; "The Creativity Contract"; "The Campuses: Diversity with Dignity"; "A New Generation of Scholars"; and "Scholarship and Community." An appendix provides results of a 1989 national survey of faculty which addressed attitudes toward factors facilitating promotion and tenure, personal job satisfaction, and other job characteristics. Also provided in appendixes are chapter by chapter technical notes and a key to the Carnegie Classifications. Approximately 100 references are included. (DB)