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Information and communication technologies are also facilitating a rapid globalization of economic activity. In an increasingly global economy, where knowledge about how to excel competitively and information about who excels are both more readily available, the effective creation, use and dissemination of knowledge is increasingly the key to success, and thus to sustainable economic and social development that benefits us all. Innovation, which fuels new job creation and economic growth, is quickly becoming the key factor in global competitiveness. In order to realize the goals stated, a modelling method was used by setting causal models derived by applying the PATH analysis, as viewed from the aspect of the social dimension of short-term and long-term alignment, which were obtained by conducting research on a sample composed of 45 institutions from the higher education system of the Republic of Croatia and their managers in permanent (finance director, secretary) and elective positions (chancellor, vice-chancellor, dean, vice-dean). Research results abstract the conclusion which expresses a novel premise that strategic planning of the integrated business and information system significantly depends on long-term management alignment, directly influenced by common knowledge on domain and financing. The propounded premise represents a possible impulse for further in-depth research that should be undertaken longitudinally in this author’s view, using as large sample of international character as possible.