Innovative Approach to Developing Competencies for Business Practice

The book chapter introduces the research findings on the application of teaching methods in higher education in Slovenia that positively affect the process of developing students' transversal competences. The goal of the research was to explore the teaching methods that should be applied in the process of improving transversal competences of students in higher education, from two perspectives: developing students' transversal competences at institutions of higher education and demands of the labour market regarding the required qualifications of graduates. Namely, contemporary business practice recognises transversal competences as increasingly important, due to their impact on innovation and development of society and economy. Higher education institutions have important role when diminishing mismatches between students' competences and applicable requirements of the labour market.

Innovative Entrepreneurial Ecosystems in Higher Education Institutions

The education system at all levels in Bosnia and Herzegovina (BiH), in an emerging and small open transitional economy is still insufficiently focused on strengthening the entrepreneurial spirit of young people, as well as encouraging young people to self-employment as a career option. The purpose of the research is to analyze the development of the entrepreneurial ecosystem of University of Banja Luka (UNIBL) and to model the future contours of a reformed modern medium-sized public university in small developing economies, with the focus on building campuses as entrepreneurial ecosystems. From empirical research carried out in 2018 by using a factor and correlation analysis, it can be concluded that UNIBL does not have the characteristics of an entrepreneurial university and that it is necessary to transform the university. A modified model of the entrepreneurial ecosystem of the University of Chicago adapted to small transition emerging economies was proposed.

Higher Education Institutions as Viable Systems

In a knowledge-based economy, higher education institutions (HEIs) are a key factor in fostering innovation and play a central role in sustainable economic growth and development. Growing complexity of HEIs and their environments requires systemic, i.e. cybernetic approach to innovation. The chapter highlights the importance of introducing a cybernetic framework for innovativeness of higher education institutions by their examination in conceptual framework of organizational cybernetics (OC). The purpose is to demonstrate how viable system model (VSM) as a key methodological tool of OC can help understanding the viability and innovativeness of HEIs. In addition, higher education institutions are investigated in a conceptual framework of VSM through the case of the public higher education institution (HEI) in Serbia. The main contribution of the chapter is related to practical implications of presented framework including the strengths and weaknesses of a VSM application.

Teaching Digitalisation

In this chapter, we elaborate on effects of recently induced digitalization of teaching, and consequently on innovative learning. A series of workshops on using digital tools in the teaching process—performed by teachers for teachers—was used to conduct a two-level analysis on how digitally supported teaching is performed. In the first level, a teachers Delphi analysis was performed, in the second level, we observed teacher performance in the role of learners, examining the user experience of multiple digitally supported teaching technologies. The study reveals that only some elements of innovative learning, i.e. understanding, commenting and providing feedback, modifying the environment and upgrading the learning content were positively influenced by digital technology. The proposed text can provide value-added for teachers in preparing their on-site and on-line courses; furthermore, it provides educational organization backgrounds on how to deliver adequate support for their staff, and finally: it gives learners an insight into how to participate in an innovative course.

Importance of New Class Teaching Methods in Curricula Development in Developing Countries

Developments in economy and labor market have always been much quicker than developments in high education and this gap has always played a big challenge to employers, as well as high education institutions. While some countries and high education institutions try to follow ever-changing market needs and use digital technologies to lower this gap and innovate on curricula development, others, like Bosnia and Herzegovina, haven't done much to lower this gap between market needs and high education curricula. This paper analyses importance of modern teaching methods in curricula development in high education institution in the BiH. New teaching methods were introduced to class for one semester, while in other class traditions teaching methods were used. It was found that students in this class have much higher skills and competences, and what is most important they needed less time to understand and gain knowledge about subject. Moreover, students in class where new teaching methods were used had higher grades than students were traditional methods were used.

Ontology-Based Measurement of Study Program Innovativeness in the Area of Economics and Management

This chapter evaluates study program innovativeness based on an ontology-based measurement. It was supposed that topics of papers in leading journals in economics and management can be used as a “pattern of innovativeness” to reveal a connection between innovativeness of top innovative study programs of universities and the subjects from the research articles. The proposed method has been implemented by authors in R and Python languages to analyze the programs in economics and management at the top innovative universities. The proposed methodology has a much wider range of applications than the assessment of the innovation of study programs and can be useful for measuring innovative performance of different aspects of research activities or publications and for identification of the top innovative subjects.

Government Expenditures on Higher Education and Innovativeness

Current trends such as globalization and the growing importance of intangible assets and a knowledge-based economy makes a significant contribution to highlighting the importance of higher education funding. Classified as one of the key factors determining the level of innovation and competitiveness, both at the micro and macro levels, education and especially higher education have been funded in different ways in different countries. Therefore, the main objective of the research is to determine the impact of higher education expenditure on innovation in Serbia and Slovenia, on the basis of which a comparison of results can be made. Analyzing the data for the period 2007-2016 and based on the results of the regression analysis, we conclude that there is a negative significant impact of the share of the state allocation for higher education on the level of innovation in Serbia, while the results relating to the situation in Slovenia are contrary and indicate a positive significant impact.

Performance Evaluation System as a Base for Designing the Intellectual Capital Report

The 21st century is envisaged to be an era of the highest growth of the higher education (HE) system with multiple qualitative and developmental changes. Namely, public universities are faced with numerous challenges: reduction of public funding, public accountability, cost efficiency, digitization, marketization, social corporate responsibility, and competition. In order to cope with these changes, governments have been implementing new strategies with the aim to improve the economic efficiency of HE systems and achieve optimal utilization of public resources. Hence, there is a growing demand for the measurement, management and reporting of university performances. Based on the developed conceptual framework of integral performance measurement and evaluation system of universities in Serbia, this chapter provides a framework for intellectual capital (IC) reporting system according to the needs, characteristics, organization, and functions of the Serbian public universities.

The Importance of HEIs and Firm Relationships in Innovation-Driven Models

The current paradigm of change, which is essentially based on the digitization and greater application of modern ICT, is changing the established patterns of business, not only in firms but also in other industries that are important for the functioning of a society. In the era of rapid change, innovation is qualified as the “key” to comparative advantage. Innovation is certainly a central and decisive factor in current competitive relations and, as such, it seeks a strong link between higher education institutions and firms in the practical field of action. Therefore, the main goal of the article is to map the domains of cooperation between higher education institutions and firms, through the identification of innovative processes, on the basis of which it is possible to determine their character and directions for enhancing innovation capacities, both at the micro and macro level.

From a Traditional to an Entrepreneurial University

The transformation of a traditional research university to an entrepreneurial university is increasing because of the reduction in university funding from government sources and the constant emergence of a competitive market for research and education. A new approach has emerged, focusing on promoting the spillover of knowledge through university entrepreneurship. The creation of an entrepreneurial culture and the movement towards a Triple Helix model is a complex task that requires the efforts of many dedicated individuals. Universities as centres for knowledge creation and diffusion can be leveraged to generate future economic growth. For small transition countries, it is important that universities operate under policies that encourage entrepreneurship and innovation. The education of young people about entrepreneurship represents a highly valuable preparation for constant changes in the labour market. Entrepreneurial education is crucial to help young people develop entrepreneurial skills, attributes, and behaviour, as well as to embrace entrepreneurship as a career option.