Improving Higher Education (Institutions) with the Matrix of Managerial and Financial Objectives

Abstract

The purpose of this work is to confirm theoretical findings in the field of management of higher education (institutions) and contribute with our own findings on the elements, mechanisms and instruments that affect the quality and effectiveness of managing and organizing higher education at the national and institutional level, and thus contribute to a more efficient and effective higher education. This work will also clarify interdisciplinary connections between various segments of the above mentioned management of higher education (institutions) field, which has not been explained yet.

In the introduction of the paper, the impact of higher education on economic development and on knowledge society is explained briefly. Further on, the background of the work is illustrated and the definition of the working problem is explained, which basically refers to the inefficiency of (mostly) publicly-funded higher education and lack of proper managerial solutions and skills at higher education institutions. Furthermore, the role of higher education and major trends in higher education are introduced and discussed. The main contribution of the paper is the matrix of higher education objectives which have to be realized in order to implement a successful higher education and institutions, mainly from managerial and financial perspectives.