Business model shifts: making Malaysian university-of-the-future sustainable and relevant in the post-pandemic and digital era
Long before the pandemic struck in 2020, digital transformation would have been a strategic goal in making future universities relevance and sustainable in the post-pandemic and digital era. In recent years, however, the progressive roll-outs that constituted the basis of these programmes have been...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
IIUM
2022
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/98211/7/98211_Business%20model%20shifts.pdf http://irep.iium.edu.my/98211/ https://journals.iium.edu.my/kict/index.php/jisdt/issue/view/32 |
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| Summary: | Long before the pandemic struck in 2020, digital transformation would have been a strategic goal in making future universities relevance and sustainable in the post-pandemic and digital era. In recent years, however, the progressive roll-outs that constituted the basis of these programmes have been abandoned, with universities embracing online learning and digital student services at an alarmingly fast rate. This study investigates the digitisation of teaching & learning (T&L), Research & Innovation (R&I) and Community Engagement (CE) as both an external process affected by the government and worldwide trends, as well as an internal activity occuring inside educational establishments in Malaysian Current Universities (MCU). Malaysian Universities need new business models in order to remain relevant and viable. Driving factors such as technological advancement, financial assistance and market developments are forcing the higher education sector to rethink its business model. The post-pandemic, 4IR and digital changes are dynamic and complex. We use a design thinking approach in which business modelling tools such as the Environmental Map (EM), Business Model Canvas (BMC), and Value Proposition Design Canvas (VPC) are used to establish, layout, and consider different business models to humanise education for higher education institutions, as well as for other universities in Malaysia and globally. These technologies enable universities to create value and give value propositions and advantages to their customer segments. Finally this paper amis to establish a conceptual Malaysian University of the Future (MuotF) business model that is continuously relevance in the post-pandemic and IR4.0 era. |
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