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Impact of the financial and economic activities of university on its development


Ekaterina Alexandrovna Vetrova , Elena Evgen'evna Kabanova , Vadim Aleksandrovich Maslikov , Tatiana Vyacheslavovna Bogacheva , Elena Ivanovna Kubasova

Abstract

In recent years, Russia and its society have been undergoing reforms in all spheres of life, aimed at modernizing the economy, establishing a strong and stable state, and building a sustainable and prosperous society. Achievement of this goal is determined primarily by the education system, as a sector shaping the intellectual potential of the nation and ensuring the deepening of the democratization of society. Education is also undergoing a transformation that affects its structure and its qualitative and quantitative characteristics. This transformation of the education system forces organizations to form new principles of financing their activities, to reconsider the sources of their financial support in terms of their expansion and diversification following the set requirements. In this regard, the main factor in increasing the competitiveness of the educational organization becomes the formation of the financial support system of the organization, which, in turn, should be aimed at improving the financial sustainability of the organization, and should also be aimed at successful operation and development. Therefore, it can be argued that financial support becomes an essential element of the overall competitive strategy of any educational organization and reflects the sustainable position in the market, competitiveness, and features of methods of attracting additional finance.


How to cite this article:
Vancouver
Vetrova E A, Kabanova E E, Maslikov V A, Bogacheva T V, Kubasova E I. Impact of the financial and economic activities of university on its development. J Adv Pharm Educ Res. 2021;11(4):59-67. https://doi.org/10.51847/pi2g23hXHR
APA
Vetrova, E. A., Kabanova, E. E., Maslikov, V. A., Bogacheva, T. V., & Kubasova, E. I. (2021). Impact of the financial and economic activities of university on its development. Journal Of Advanced Pharmacy Education And Research, 11(4),59-67. https://doi.org/10.51847/pi2g23hXHR
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