As of 1 July 2019, the Corvinus University of Budapest, previously maintained by the state, became a private university controlled by a foundation. Corvinus University, one of the top higher education institutions of Hungary and the best university in the country in its disciplinary fields, has pioneered model change in Hungary and embarked upon a renewal program.
In the last year, with the breakdown of the faculty structure, the organisation of the University has become more flexible and unified. We have created several new organisational units that have been missing so far and reflect modern market demands (e.g., student services, corporate and institutional relations).
The University has designed a new remuneration system that inspires staff to be geared to change. The foundation maintaining Corvinus secured the financial resources required for funding the change projects for the first half of 2020. This year 30% more resources are available for HR and infrastructural developments than last year.
By introducing the Corvinus Scholarship the University created a student incentive system that reinforces performance-mindedness. The establishment of an own scholarship together with the new eligibility criteria for study grants has strengthened the ability to attract talented students irrespective of their social background. It has promoted a culture of performance and rigour. Our aim is to make sure that Corvinus has enthusiastic, gifted students who are attached to the University and who will preserve their identity later in life and will show commitment to the University as alumni.
After thorough preparations, four study programs will be renewed from September 2020: the Applied Economics undergraduate programme, the International International Business undergraduate programme, the Economic Analysis graduate programme and the Executive MBA. New students in these programs will receive training that is continuously adjusted to market demand and that has been revamped as far as methodology, approach and content are concerned.