Methodological foundations of forming a strategy for the economic development of higher education institutions in the context of globalization

The subject of the research is the theoretical and methodological foundations of forming a strategy for the economic development of higher education institutions in the context of globalization. The aim of the research is to determine the methodological foundations for the formation of a strategy for the economic development of higher education institutions in the context of globalization. Research methods. The study used both theoretical and practical methods: analysis of scientific literature; method of comparative analysis; conceptual method; SWOT analysis; systematic approach; scenario analysis; factor analysis; graphical, tabular methods, etc.Results of the investigation. It has been established that in the context of globalization, higher education institutions should integrate into the global economic system, while maintaining the stability of their functioning and ensuring long–term sustainable development. It is proved that the economic development of higher education institutions, as part of the overall development strategy of Ukraine, is a critical aspect for their existence. The main aspects of globalization that affect the economic development of higher education institutions are identified, namely: technological progress; international mobility; transformation of the labor market. The key principles of forming a strategy for the economic development of higher education institutions are identified: international competitiveness; innovation and technological development; partnership with the private sector; flexibility and mobility; sustainability and human resource development. The main economic factors that influence the sustainable development of higher education institutions are investigated: diversification of funding sources; internationalization of educational programs; innovative development. The factors of positive impact (international cooperation and mobility; integration into the international market of educational services; development of technologies and distance education; expanding access to knowledge; internationalization of educational programs) and negative impact (increased competition; depopulation and brain drain; financial dependence; uneven access to technology; cultural and language barriers), which in the process of forming a strategy for the economic development of higher education institutions create both opportunities and threats for the further development of higher education institutions, are analyzed and identified. The criteria for the effectiveness of forming a strategy for the economic development of higher education institutions are determined: economic efficiency; quality of educational services; innovation potential; international integration; social responsibility and sustainability; organizational flexibility and managerial efficiency; information and digital infrastructure. It is proved that these criteria will allow to comprehensively assess the effectiveness and efficiency of the economic development strategy of a higher education institution in the context of globalization, ensuring compliance with the modern requirements of the international educational community and the market of educational services. In the process of developing and further implementing an effective strategy for the economic development of higher education institutions, taking into account global educational trends, the following approaches, methods and mechanisms have been proposed: systematic approach; modeling of economic processes; integration of innovative approaches; diversification of income sources; international approach; innovative development; partnership with business. It is proved that a reasonable choice and further effective implementation of the economic development strategy of a higher education institution requires constant monitoring and evaluation of results, including systematic analysis of the achieved indicators, identification of deviations and implementation of corrective actions.Scope of the results. Management of higher education institutions, financing and economics of education, internationalization of education, educational policy and reform of the education system, digitalization of education, development of research activities.Conclusions. Thus, in the context of globalization, higher education institutions face new challenges and opportunities dictated by the need to strategize their economic development. Formulating an economic development strategy that takes into account current educational trends and global factors is an important step to ensure their stability and competitiveness. An effective economic development strategy of a higher education institution should take into account such aspects as diversification of income sources, internationalization, innovative development and cooperation with business. The application of these approaches will allow higher education institutions not only to survive in the face of increased competition, but also to become leaders in their field at the global level. The methodological foundations for the formation of a strategy for the economic development of higher education institutions in the context of globalization provide for a comprehensive approach to the development and implementation of principles and mechanisms that take into account the main global trends and the specifics of the functioning of higher education institutions. The developed strategy of economic development of higher education institutions should primarily comply with the principles of flexibility, adaptability and be focused on achieving the goals of sustainable development of higher education institutions in a rapidly changing environment.