Holistic Governance Model of Indonesian Private Universities: Stakeholder and Value Creation Perspectives for Higher Education Quality

Abstract

This research focused on the holistic governance of private universities, with the objective of determining the factors that facilitate the holistic governance of Indonesian private universities, as well as describing the influence between Total Quality Management (TQM) indicators that are supporting activities (non-academic) based on the level of satisfaction of customers (tangible, empathy, reliability, responsiveness, and assurance) were elaborated with primary (academic) activities based on higher education quality assurance determined by the National Accreditation Board for Higher Education in Indonesia (IAPT 3.0) which was identified as a variable Private University Performance.

This research revealed an impact of Service on Holistic Governance and Strategy, as well as the impact of Performance on Holistic Governance of Private Universities in Indonesia. Such a study is significant for several findings, including that a value creation strategy is a supporting factor for services in improving holistic governance through continuous improvement efforts, that unity of purpose and organization, empowerment of human resources, and uniqueness of services are the dominant factors that affect holistic governance of higher education institutions. Private Higher Education in Indonesia should be carried out in a comprehensive, inclusive approach, prioritizing service and customer satisfaction, having quality standards (academic and non-academic) as the primary and supporting activities, planning that is aligned with the institution's vision and mission, involving all elements of the academic community (participatory), collaborative, and contains better value creation from aspects of positioning, recognition, reputation, efficiency, effectiveness, increased use of technology, and customer/social oriented.