The competitive advantage in the Business Model of the Private Universities in Paphos and Cyprus: the sustainable development appraisal
This paper investigates the Competitive Advantage factors to be considered by the Private Universities in Cyprus. The research has indicated that in the current globalised World Wide Web network Universities Business Models are subject to sustainable and continuous competition. The way of doing business in the educational sector is continuously changing and this includes the ways that the Public and, especially the Private sector need to cooperate with the market and take risks. The research suggests that the winning formula for a Business Model is: Efficient use of internal resources, use of Information Technology (IT), strategic alliances with brand names and the Government, and the Transformation of these, through Customer Relationship Management (CRM) and Strategic Management, into Competitive Advantages. The findings and conclusions of this research indicates that future higher education learning would be transformed, unmatched to what we know today, through the use of IT, Strategic Alliances and Management, and as such these factors should be the nucleus of any University Business Model. In this respect the internal competitive resources factors would need to be incorporated within the business operations and strategies and the value and supply chain. While this research suggests that it is possible to design a best practice University Business Model, the Cyprus private higher educational institutions (PHEIs) market is very competitive and not as yet matured enough for any partner to plan securely on a certain winning mix. The success in PHEIs market is still going through the growing phase and it is thus suggested that a feasibility study should precede any investments or financial commitments