Multiperiod models for choosing strategies of interaction between a university and its stakeholders in risky conditions

A. A. Gresko () and K. S. Solodukhin ()

University Management: Practice and Analysis, issue 4-5

Abstract: The article describes two multiperiod models for choosing optimal strategies of interaction between a university and various stakeholders in conditions of uncertainty. Both models deal with multiple scenarios that change the relations between a university and various groups of interested parties in a certain manner. Each scenario forecasts the dynamics of changes in the relations and calculates weight coefficients determining the feasibility of choosing a strategy of interaction between the university and each particular stakeholder. Within the first model, a decision on choosing a strategy is made with the help of a generalized criterion comprising mathematical expectation and mean-square deviation. This model makes it possible to identify and rank a Pareto-optimal set of strategies and determine the boundaries of a decision maker's risk tolerance. Within the second model, optimal strategy is chosen based on an expected utility criterion.

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