UNIVERSITY BUSINESS MODELS AND DIGITAL TRANSFORMATION
University of Novi Sad, Faculty of Economics Subotica (SERBIA)
About this paper:
Conference name: 11th annual International Conference of Education, Research and Innovation
Dates: 12-14 November, 2018
Location: Seville, Spain
Abstract:University is in a state of change in the process of digital transformation of higher education. Digitalization forces and enables universities to transform. However, digitalization requires mastering different fields of action: customer, value proposition, operations, data, organization and transformation management. With regard to the fact that these fields determine key features of university business models, they have to be adapted frequently and rapidly in order to satisfy stakeholders’ needs. New university business models are emerging, while the existing are undergoing improvement. Relevant literature on this topic highlights new university business models, such as digital university, agile university, virtual university, smart university, e-University, and university 4.0, all of which were developed primarily as a result of digitalization of education and research.
This paper describes selected digitalization fields of action and their influence on digital transformation of university. With respect to overall objectives of digital transformation in higher education, the authors have identified possible approaches for their realization, as well as expected trends. University business models are particularly defined and presented in terms of their primary characteristics, as well as their significance to achieving competitive advantage in the higher education market.
Based on an analysis of universities’ available digital strategies, the authors have highlighted their significance and identified their potential content, which should be become a roadmap and a basis for digital transformation of a university business model towards a selected option.
Keywords: University, business model, digitalization, transformation, strategy.