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University Business Models in Crisis Management

Author

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  • Margarita Bogdanova

    (D. A. Tsenov Academy of Economics)

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 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.

Suggested Citation

  • Margarita Bogdanova, 2020. "University Business Models in Crisis Management," Business Management, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 4 Year 20, pages 34-44.
  • Handle: RePEc:dat:bmngmt:y:2020:i:4:p:34-44
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    File URL: http://hdl.handle.net/10610/4401
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    References listed on IDEAS

    as
    1. Angela Besana, 2015. "Economics and Finance of the Italian University at Crisis Times," Investigaciones de Economía de la Educación volume 10, in: Marta Rahona López & Jennifer Graves (ed.), Investigaciones de Economía de la Educación 10, edition 1, volume 10, chapter 15, pages 299-308, Asociación de Economía de la Educación.
    2. repec:ajn:abrjou:2018:p:1-8 is not listed on IDEAS
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      Keywords

      university business models; crisis management; strategies; Covid 19;
      All these keywords.

      JEL classification:

      • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education

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