This research is conducted at the time when the term “New World Order” is causing a stir. The world has reached a pivotal point in human history where to-day's pressing issues can no longer be tackled by any individual country alone, but with some concerted effort through international collaborations. The pressing issues of today’s world—the changing global balance of power, geopolitical changes, the emergence of alternative financial infrastructure, etc.—are inescapably impacting all lives. Several sectors have been harshly hit and the education sector especially HE is no exception. It is more vital than ever that HE needs to quickly transform to increase its capability to compete as negligence in the “next normal” era—the dramatic restructuring changes following the “new normal” era—may lead to its downfall. This work takes a critical look at the possible causes of the collapse of HE and recommendations to address them. These recommendations comprise a set of strategies and a model developed that can help guide HEIs to increase their capability to compete. The proposed guideline is based on a case study of the FRACTION project, an academic collaboration between Asian and European countries that help the member institutions to increase their capability to compete and achieve their goals.