Business Management

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  RISK MANAGEMENT AT HIGHER EDUCATION INSTITUTIONS IN BULGARIA – A REGULATORY REQUIREMENT AND/OR A PRACTICAL NEED

  Modernizing the system of higher education and improving the quality of educational and research activities of higher education institutions is a permanent objective due to the constantly increasing requirements and the expectations of society. However, other factors also exist which hinder or at least slow down the achievement of the desired ... Modernizing the system of higher education and improving the quality of educational and research activities of higher education institutions is a permanent objective due to the constantly increasing requirements and the expectations of society. However, other factors also exist which hinder or at least slow down the achievement of the desired outcomes. Some of them are system-wide and equally valid for all higher education institutions, while others are specific. The article focuses on the main external and internal factors posing risks to the future development of higher education in our country. Among them are the negative changes in the values of society, imperfections in the regulatory framework, the funding model, the demographic crisis, the evaluation and remuneration of the employed research scientists and lecturers, solutions to ethical and social problems, and others. Identifying the main risks aims to make responsible institutions become aware of them. Another aim is to propose appropriate measures to counteract risks. It is argued that most of these measures require purposeful efforts by all interested institutions.

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  UNIVERSITY BUSINESS MODELS IN CRISIS MANAGEMENT

  The aim of the article is to present key features of the business model as a mental construction and to summarise successful practices of universities around the world that have implemented innovative management solutions to overcome crises. Osterwalder and Pigneur’s concept of business model and its applicability to higher education are ... The aim of the article is to present key features of the business model as a mental construction and to summarise successful practices of universities around the world that have implemented innovative management solutions to overcome crises. Osterwalder and Pigneur’s concept of business model and its applicability to higher education are considered. Variants of business models of different universities are analysed and crisis management approaches are synthesised in a summary model, with special attention paid to practices during the Covid-19 Global Crisis. The peculiarities of the analysis of the strategic risk after external threats are considered. Special emphasis is put on reviewing of business models in the context of new constraints and disturbed balance of revenues and expenditures. Timely reassessment of the business model can be a transition from a reactive to a proactive strategy and protect the organisation, at least in part, from the effects of future crises.

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  INTERNAL AND EXTERNAL CHALLENGES FACING HIGHER EDUCATION

  The article addresses the challenges facing higher education, related to the demographic problems and the quality of process management. The free movement and the single education area are changing attitudes, especially those of young people and their choice where to receive education. The demographic crisis, migration and the lower quality of ... The article addresses the challenges facing higher education, related to the demographic problems and the quality of process management. The free movement and the single education area are changing attitudes, especially those of young people and their choice where to receive education. The demographic crisis, migration and the lower quality of previous levels of education are further exacerbating the situation in higher education. The article argues that a change in the educational management is necessary in order to find solutions to deficits and to build a model of ‘engaged universities’ where the quality of education is maintained at a level consistent with socio-economic processes.