Volume 15 Issue 07, July 2025
Impact factor: 2019: 4.679 2020: 5.015 2021: 5.436, 2022: 5.242, 2023:
6.995, 2024 7.75
http://www.internationaljournal.co.in/index.php/jasass
6
THE ECONOMIC ESSENCE AND NATURE OF MODERNIZING THE HIGHER
EDUCATION MANAGEMENT SYSTEM
Xasanbayev Shoxruxiddin Faxruddinovich
Independent Researcher, Tashkent Transport University
Abstract:
This article analyzes the economic essence and nature of the process of modernizing
the management system in higher education. It examines the need to develop the education
system in line with modern demands, increase efficiency in training competitive personnel, and
attract investment to the sector. Particular attention is given to the importance of digital
technologies, public-private partnerships, and the use of market mechanisms in management.
Keywords:
management, finance-economics, competence, specialist, development, economic
essence, modernization
Introduction
In today’s era of globalization and rapidly developing information technologies, the economic
progress of every nation largely depends on the system of training highly qualified specialists. In
Uzbekistan, reforms in the higher education sector are being carried out gradually. One of the
main tasks in this process is the modernization of the management system and its adaptation to
the requirements of a market economy.
Main Body
1. The Concept of Modernization and Its Role in the Education System
Modernization refers to adapting an existing system to current demands, i.e., increasing its
efficiency and ensuring competitiveness. In higher education, this includes improving education
quality, revising management mechanisms, introducing new methods of financing, and
embracing digital transformation.
The development of managerial competencies in future finance and economics professionals is
crucial for advancing vocational education. The conflict between labor market demands and the
quality of instruction underlines the need to revise the objectives of student internships. The key
goal of educational strategies for future economists is to apply professional knowledge in solving
management problems and to perform management functions based on business process analysis.
This process requires creating and testing a model for forming management competencies and
verifying its effectiveness. The Presidential Decree of the Republic of Uzbekistan No. PF-5847
dated October 8, 2019, on the "Concept for the Development of the Higher Education System in
the Republic of Uzbekistan until 2030" identifies strategic management of educational
institutions in the digital economy as a top priority.
The term “competence” originates from the Latin verb competo, meaning “to achieve,” “to
match,” or “to approach.” Competence includes not only specific knowledge, skills, and abilities,
but also the ability to apply them in practice, along with personal qualities such as patience, goal-
setting, leadership, and initiative. The methodology developed in this study is based on Y.
Adizes’ works on identifying management styles.
Motivation and work efficiency are closely linked in evaluating and designing work processes
and assessing management effectiveness. The analysis of economists’ professional activities
Volume 15 Issue 07, July 2025
Impact factor: 2019: 4.679 2020: 5.015 2021: 5.436, 2022: 5.242, 2023:
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allows us to identify key tasks in the management field: analytical, economic, entrepreneurial,
and organizational.
The model for forming management competence among economics students is developed using
a systemic educational approach. The theoretical basis, criteria development, and experimental
validation of this model are necessary. Research shows that in various fields, management
competencies are studied as an integral set of knowledge, skills, and abilities and are often
specific to managerial training.
However, management competencies for future economists require a distinct model reflecting
the unique features of their professional preparation. Unlike managers, economists must rely
more on formal tools (e.g., economic analysis) for universal managerial influence, even though
this approach may overlook subjective traits in participants of the management process.
In foreign sources, management competence among economics students is considered an integral
personal characteristic that includes solving management tasks such as diagnosing economic
activity, assessing and developing enterprise potential, preparing strategic plans, justifying
investment projects, selecting financial instruments, and evaluating performance.
Economists aim to maximize profit, enter new markets, and optimize production processes. The
uniqueness of their management competence lies in their ability to make informed decisions
based on economic analysis and justify the feasibility of investment projects.
Humans have become a primary source of competitive advantage in business. Understanding
their potential and constraints is key to any organization’s success. The "management code"
concept reflects how a manager perceives a situation, with four perception vectors: efficiency,
administration, entrepreneurship, and integration.
2. Economic Essence of Modernization
Modernizing the management system in higher education solves several key economic
challenges:
Efficient financial management: Ensures rational use of budget funds and implements results-
oriented financing;
Investment environment: Attracts private sector involvement, foreign investments, and grants in
education;
Labor market alignment: Prepares specialists in line with market demands to reduce workforce
mismatches;
Promotion of innovation: Directs scientific research toward economically beneficial projects.
3. The Nature of Management System Improvement
The nature of modernization is multifaceted and complex. Its main directions include:
Digitalization and ICT: Implementation of automated systems in both educational and
administrative processes;
Specialized training: Training specialists based on demand and labor market needs;
Public-private cooperation: Developing infrastructure through partnerships;
Internationalization: Adapting to international ranking and quality assurance systems.
4. Socio-economic Outcomes of Modernization
Enhanced autonomy of educational institutions;
Higher education quality leads to a reserve of highly qualified personnel;
Universities evolve into research and innovation centers;
Increased education exports generate foreign currency revenues.
Volume 15 Issue 07, July 2025
Impact factor: 2019: 4.679 2020: 5.015 2021: 5.436, 2022: 5.242, 2023:
6.995, 2024 7.75
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Conclusion
In conclusion, the modernization of the higher education management system contributes not
only to improving education quality but also to the sustainable development of the national
economy. Strengthening cooperation among the state, private sector, and educational institutions,
using financial and organizational resources efficiently, and introducing innovative approaches
into practice are of great importance. Modern management methods transform the education
sector into a competitive, open, and efficient system.
References:
1. Decree of the President of the Republic of Uzbekistan No. PF5847 dated October 8, 2019 “On
approval of the Concept for the development of the higher education system of the Republic of
Uzbekistan until 2030”. www. lex. uz.
2. Adizes I. Ideal leader. - M .: Alpina Business Books, 2006. –P. 45.
3. Babanova E. M., Mityaeva A. M. Interactive technologies in the formation of managerial
competence // Bulletin of the State Humanitarian and Technological University. 2023. No. 3. P.
8-14.
4. Kozachok A. I., Panteleev R. G. Model of the process of forming organizational and
managerial competence of future military specialists // Innovations in education. 2019. No. 2. P.
34-45.
5. Balabanova V. A. Model of formation of managerial competencies of future specialists in the
system of secondary vocational education / "Interactive Plus", 2017. P. 14-18.
