From business modeling to business management: An exploratory study of the optimal decision making on the modern university level

Abstract

It is a fact that "The Fourth Industrial Revolution" is one of the main aspects of higher educational reforms, curricula changes, and knowledge formation. For graduates' it must be directed for the evolution of knowledge creation according to the competitive job market requirements. The Modern Digital Industrial Age and its impact on the orientation of education tend to reach substantial improvement of new generation learners and offer opportunities for the idea development for transforming research curricula with the main aspect: to develop good progression of integration knowledge and competencies of research for practice. Higher Education is a social investment and includes benefits from research and technological innovation with employed research methods to examine the expected professional level of university graduates. The scientific paper considers knowledge formation possibilities of graduates of Master of Business Administration and Management with specialization of management for the competitive job market and: classifies the main approaches for exploration of business modeling studying on the modern university-level concerning forming successful specialists, and to respond to the requirements of the modern competitive world, accordingly; analyzes the problems and issues of higher education with system dynamics of educational reforms institutional diversity, some directions are identified for knowledge creation (a program of research methods, students' motivation); assesses the impact on business and economics graduates' knowledge creation and its use in practice by them. Information for processing has been gained accordingly by the questionnaires of four categories with various indicators. There analyzed the data processing results and given conclusion and recommendation to improve the research program for MBA students with "model building" and optimization methods.