Strategic Management Implications to Private Higher Education Financing in Post-Communist Countries – Fundraising IESFF Model

Abstract

The main purpose of this paper is to define the importance of strategic management implication to private higher education financing in post-communist countries as well as to explain the custom made IESFF fundraising model for post-communist HEIs. As post-communist education lays on former political grounds, as well as the lack of the society experience in various philanthropic cases, the implementation of any funding based project within HEIs is a large and rather complex issue. Besides post-communist countries, there are developed education societies with all developed mechanisms for financing their activities. This is the part for introducing this first class HEIs that undertake funding for excellence no matter if it is private or public ones. The models of funding they are using are mainly dependent on their strategic decision making with the final purpose of creating the excellence. Due to the fact that HEIs have a competitive role in education market and act similar to a business, their fundraising strategic models have to be customized. Not all strategies or models are applicable to all HEIs.

Keywords: financing, fundraising, higher education institutions, strategic management