Simona Bakutyte

MBA in Marketing and Trade Management

Vilnius University, Lithuania

E-mail: bakutyte@gmail.com

IDENTIFYING THE GAP IN VALUE CREATION AT UNIVERSITIES: THE CONSUMER’S PERSPECTIVE

Dainora Grundey

Department of Management

Faculty of Politics and Management

Mykolas  Romeris University

Lithuania

E-mails: dainora.grundey@mruni.eu; dainoragrundey@yahoo.co.uk

ABSTRACT. Value creation becomes more and more important because of increasing competition among companies, increasing power and requirements of the consumers in the market. The paper discusses theoretical and practical issues of value creation process and its impact on university studies. The main research focus these days either lay on value creation in business companies or quality problem at university studies. Our paper discloses the perspective of the consumers/user in three selected dimensions: a) students’ dimension; b) teaching staff dimension and c) university administration’s dimension. The findings of the research present criteria, which either a) increases the value of university studies or b) decreases the value of university studies.

Received: January, 2012

1st Revision: March, 2012

Accepted: April, 2012

JEL Classification:  D46, I21,  P2

Keywords: value creation, consumer value, education, university studies, Lithuania.