Along with the growing intensity of globalisation, today there is an increased focus on values in politics and society in the Western world. The public interest in values has also been noticed by researchers in the social sciences, and the number of publications on various aspects of value formation and transformation has increased significantly over the past decade. Higher education institutions have also noticed this trend and have, therefore, defined values that can be useful for achieving their goals and attracting students and academic staff members. The research results demonstrate that often values are defined following fashion trends, ignoring the concept “value” and the defined value type in the content. Therefore, students and academic staff members are offered a broad spectrum of values that are not interrelated, some of which are utopian and do not correspond to the real world, its prevailing threats and opportunities. Moreover, the definition of values for higher education institutions in one country lacks the common dimension that would be necessary for the higher education institutions of a particular country that are the most important elements of a national education system. Thus, the values of higher education institutions are more focused on competition among themselves than on cooperation for common measures to improve the competitiveness of the national higher education system, creating additional barriers to gaining new competitive advantage in order to catch up with the best higher education institutions in Europe and worldwide.