Yurii Safonov

  Valeria Marichereda

  Ievgen Bazhenkov


The main purpose of the paper is to analyze the economic instruments for the implementation of strategic management in universities. Methodology. This study combines economic and managerial analysis of higher educational management. In this study, a set of general scientific and special research methods was used to achieve the goal of the study. The method of logical analysis of the literature was used. The functional, structural and economic analysis was used with purpose to research the main economic tools of realization strategic management in universities. Comparative analysis and synthesis methods were used to study different types of economic and strategic instruments. Using the method of generalization, conclusions and recommendations were made to improve the mechanism of strategic management used in the educational sphere. As the information base for the study the works of scholars in the field of strategic and educational management were used. Findings. The article analyzes the process of strategic management based on the concept of balanced scorecard in the university. The authors used an adaptive mechanism to develop and implement a strategy in the management system of the university. A set of indicators assessing the process of implementing strategic management was proposed. Management influence indicators, primary control factors, development indicators and financial outlook were analyzed. The management system of the university on the basis of strategic management was described, in which the correspondence between the economic indicators of the university and its organizational structure is presented. Challenges to the further implementation of strategic management in developing countries are considered. Practical implications. The results of this study form the methodological and practical basis for improving management processes in developing countries. The results of the study can become the basis for the formation of effective educational management, ensuring the continuous development of universities.

How to Cite

Safonov, Y., Marichereda, V., & Bazhenkov, I. (2021). ECONOMIC TOOLS OF REALIZATION STRATEGIC MANAGEMENT IN UNIVERSITIES. Baltic Journal of Economic Studies, 7(4), 182-187.
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strategic management, university, educational management, higher education, development


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