Abstract

Purpose: This paper has two main purposes, the first of which is to present a simple pedagogical example of budget-performance simulations that can be used for instructional purposes. The second purpose is to formulate a research hypothesis about the effects, on the overall performance, of (i) the overall level of physical and academic-managerial human capital investments and (ii) the allocation of resources between physical capital and academic-managerial human capital. Method: We have employed a system dynamics method so as to construct a simplified setup (model) where some pedagogically illustrative components of the budget are specified and linked to an elementarily exemplified performance function. We have then simulated the investment-based performance trajectories to demonstrate the findings of the paper. We have shown how to undertake a policy-based optimization as well. The method (system dynamics) we have chosen is suitable for the modeling of complexly-interwoven optimization and simulation processes. Findings: Through simulation and policy-based performance optimization exercises, we have demonstrated that the physical and academic-managerial capital investments matter and there exists an optimal allocation of resources that maximizes the university performance. Originality: There is a need for a comprehensive and in-depth examination/inquiry of the performance optimization and simulation processes associated with the higher education institutions. This article represents a modest contribution to such an inquiry.

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