New Business Venture of Private Higher Education Institution in Malaysia

• Main Author: Mohamad Riza, Abdahir
• Format: Thesis
• Language: English; English
• Published: 2022
• Online Access: http://ur.aeu.edu.my/937/1/Thesis%20_%20Formatted%20after%20Amendments%20_080222-new%20%281%29.pdf; http://ur.aeu.edu.my/937/2/Thesis%20_%20Formatted%20after%20Amendments%20_080222-new%20%281%29-1-24.pdf; http://ur.aeu.edu.my/937/; https://online.fliphtml5.com/sppgg/wpcr/?1649389548287

Higher education institutions (HEIs) were formerly seen as some of society's most robust institutions, but are currently experiencing new difficulties as a result of shifts in both government and society's expectations of what they should provide. There is a global call for new models and practices, which need HEIs to develop what was once business-reserved management competencies. This study addresses the global call for HEIs to be more entrepreneurial in nature, by examining the challenges faced by investors interested in venturing into the industry. The focus of this study is to evaluate both the opportunities and mechanisms for establishing a new venture in setting up an entrepreneurial private HEI, with the goal of diversification, capacity building, providing lifetime education to the people, and contributing to nation-building. A feasibility study was carried out to explore the background and significant facts concerning existing private universities in Malaysia; to investigate the path taken by the founders, and on how the management grew their universities to become successful, sustainable and respectable education providers. This qualitative study employed in�depth interviews method to collect data. The respondent’s observations and perceptions of the difficulties and opportunities they encountered in their experience of managing their respective universities, were assessed through grounded theory using textual thematic qualitative analysis of their reflective feedback. The findings reveal, among others, that new ventures into higher education must be spearheaded by entrepreneurial leadership who are able to develop or enhance dynamic capabilities for successfully managing a university. These leaders must also capitalize on opportunities available, and form a team of agile and resilient staff who can whether through any changes in the environment. The study provides a guideline on the effective and efficient methods of managing and driving private universities in a profitable manner.