Designing business models options for “University of the Future”

• Main Authors: Ibrahim, Jamaludin, Ahmad Dahlan, Abdul Rahman
• Format: Conference or Workshop Item
• Language: English; English
• Published: IEEE 2017
• Subjects: T173.2 Technological change; T55.4 Industrial engineering.Management engineering.; T57 Applied mathematics. Quantitative methods. Operation research. System analysis
• Online Access: http://irep.iium.edu.my/56539/8/56539-edited.pdf; http://irep.iium.edu.my/56539/26/56539-Designing%20business%20models%20options-SCOPUS.pdf; http://irep.iium.edu.my/56539/; http://ieeexplore.ieee.org/document/7804956/

A number of key studies have argued universities are in need of new business models in order to stay relevant and sustainable. Drivers of change such as technology, financial support, industry trends and socio-economic ecosystems are dictating higher education sector to re-examine its existing business model and value proposition. The changes are dynamic and complex. It is very difficult to analyse complex problem without proper business modeling tools. Business Model Canvas (BMC) and Value Proposition Design (VPD) are recent tools being used by industry to design, evaluate alternative business models and value propositions. The tools allows us to design business models that create value for the business and value propositions that create value for the customers, thus enabling the creation of sustainable road maps. In this paper we explore the use of BMC as business modeling tool to analyse and design sustainable business models for the University of the Future. Depending on the targeted customer segments and value proposition design, we found design options for the University of the Future. In our opinion this will help university business planners and relevant stakeholders to design sustainable and competitive business model.