RETHINKING THE CONCEPT OF VALUE CREATION IN HIGHER EDUCATION IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT
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Author(s): | Lyzhova A. V., |
| Number of journal: | 3(76) | Date: | September 2026 |
| Annotation: | In the modern paradigm of higher education, the concept of value creation has expanded beyond traditional metrics such as graduate income, employment rates, and the degree of digitalization of the educational process. However, its formalization into a unified system remains fragmented, and dominant approaches fail to consider the multidimensionality of education’s effects. This study examines value creation as a multidimensional, systemic, and collaborative process in higher education institutions, highlighting both global and regional aspects, thereby integrating the interests of a wide range of stakeholders. This article seeks to develop conceptual foundations of a value creation model in higher education through the lens of sustainable development. The goal of the study is to lay the foundations for an alternative paradigm that will overcome the limitations of both traditional performance measures (financial results, graduate employment data, positions in academic rankings) and formal ESG indicators, which fail to consider the impact of education on individuals, society, and the natural environment. Based on an analysis of theoretical approaches and empirical oriented criteria to models capable of capturing and assessing how education changes individuals and society as a whole. As an alternative, the paper proposes the development and implementation of hybrid assessment models that seamlessly combine quantitative measures with qualitative tech - niques: assessments based on the opinions of educational process participants and indicators reflecting the nature of the relationships between educational actors. The novelty of this study lies in its justification for adjusting the conceptual foundations of value creation in higher education. This requires a significant shift in understanding the mission of the modern university – from developing “human capital” as a resource serving current market needs to emphasizing the development of “human potential” as a driving force for systemic transformation. | ||
| Keywords: | sustainable development, social value, higher education, university, ESG, sustainability reporting, value, education, quality, effectiveness, efficiency |
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| For citation: | Lyzhova A. V. Rethinking the concept of value creation in higher education in the context of sustainable development. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2026;3(76):100—106. DOI: 10.25683/VOLBI.2026.76.1732. |
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