A Mathematical Model that Analyzes the Differences between the Cost of Maintaining the Desired Permanent Workforce (Academic Staff) and that of Maintaining the Entire Outsourcing Policy for Private Universities in Nigeria
O. Enagbonma *
Department of Physical Sciences, Faculty of Science, Benson Idahosa University, Benin City, Nigeria
A. A. Osagiede
Department of Mathematics, Faculty of Physical Sciences, University of Benin, Benin City, Nigeria
*Author to whom correspondence should be addressed.
Abstract
The difference between the cost of maintaining the desired permanent workforce (academic staff) and that of maintaining the entire outsourcing policy is a useful index that allows management of private universities to know the financial task before them, well ahead of time for a possible solution. However, in the available literature, there are no adequate mathematical models that address such issues. The idea of linear algebra was used to develop a mathematical model that can address such real-life problem.
Keywords: Outsourcing, gap, models, desired permanent workforce, financial task