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Revenue sourcing for the financial sustainability of a university of technology: an exploratory study
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Revenue sourcing for the financial sustainability of a university of technology: an exploratory study
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Revenue sourcing for the financial sustainability of a university of technology: an exploratory study
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Journal Article
Revenue sourcing for the financial sustainability of a university of technology: an exploratory study
2024
Overview
South African universities are facing significant financial challenges that threaten their sustainability. Factors such as reduced government funding, unpredictable tuition collection, and the need to generate additional revenue have become major concerns for universities. This study investigates the perceptions of academic and non-academic staff regarding revenue sourcing to enhance financial sustainability at a university of technology. Quantitative data was collected using a questionnaire. The findings show that the university is using a diversified revenue structure and that revenue sourcing is a financial challenge for the university. This implies that the university's current revenue generation strategies are inadequate. The respondents perceived revenue sourcing as a financial challenge and that relying on a single source of revenue is not financially viable. Low research output was considered a barrier to financial sustainability and improving research output was identified as a means of improving financial sustainability. Respondents agreed that appointing staff members who could attract funding and improvements in the infrastructure of the university would assist in removing barriers to financial sustainability and increase income together with offering short courses. Recommendations suggested by the respondents to increase revenue included the need to diversify revenue sources and that offering new courses and using international collaborations and university segments to establish industrial partnerships would generate additional revenue.
