How Strategy Affects Financing Model in Private Higher Education Institutions - Fundraising IESFF Model

Strategy is often closely connected to management of higher education institutions (HEI), but strategy in financing is also an important issue. HEI’s often need additional funds in order to finance their extracurricular activities, but only a small number of HEI’s is using a fundraising as a competitive advantage in their finances. As fundraising case offers a lot of already developed models based on strategy modifying, not all of them can be introduced to HEI’s in post-communist countries that have never faced expanded philanthropy. Due to the fact that HEI’s had a competitive role on 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 HEI’s. There are a lot of different factors that influence the strategy change and also affect the financing model. Through this paper is shown how to determine the right financing strategy as well as is developed new fundraising model based upon modified strategy for previous mentioned economic area.