UNIVERSITY BUSINESS MODELS IN CRISIS MANAGEMENT

Authors

Keywords
university business models, crisis management, strategies, Covid 19.

Abstract
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 Pigneurs 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.

JEL: I21.
Pages: 11

To view the full text of the article click on the relevant button below.

More titles

  • 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 ...

  • 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 ...

  • 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 ...