Business Management

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  RISK MANAGEMENT IN HIGHER EDUCATION INSTITUTIONS IN BULGARIA – STATE AND PROSPECTS

  The paper examines the main challenges facing universities in Bulgaria. It presents organisational issues of risk management in the higher education system and focuses on practices that need to be changed in order to implement risk management. Based on comparative content analysis, it identifies key areas that should be the subject of intervention ... The paper examines the main challenges facing universities in Bulgaria. It presents organisational issues of risk management in the higher education system and focuses on practices that need to be changed in order to implement risk management. Based on comparative content analysis, it identifies key areas that should be the subject of intervention in educational and scientific organisations in order to achieve efficiency, effectiveness and appropriateness of the process. The paper proposes solutions to improve risk management in the sector. It outlines guidelines for introducing a systematic approach to risk management in order to improve the organisational environment and operational management.

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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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  ASSESSING MATURITY OF THE RISK MANAGEMENT SYSTEM IN HIGHER EDUCATION INSTITUTIONS

  The article aims to seek answers to four research questions, focusing on the specifics, existing practice, available scientific publications on the issue of assessing the maturity of risk management in universities; the possibilities for creating the framework for developing a model adapted to university practice of assessing the risk management ... The article aims to seek answers to four research questions, focusing on the specifics, existing practice, available scientific publications on the issue of assessing the maturity of risk management in universities; the possibilities for creating the framework for developing a model adapted to university practice of assessing the risk management maturity. A framework for the development of a similar model is presented, envisaging the implementation of the following activities: identifying the specific features of risk management in universities; identifying risk factors specific to higher education institutions (HEIs); defining the attributes that will underlie the model description; analyzing some existing models for assessing the maturity level; creating a substantive model; adapting the model to the specific conditions; a pilot assessment when using the adapted model.