TO Create WCU In Developing Countries:Logic,Challenges&Measurable Strategic Approaches Taking As An Example Of Pakistan

Universities are strong drivers of long-term economic and social progress;this highlights the need for governments to prioritize investments in higher education.In particular,as more competition and knowledge globalization in society,universities have become increasingly important.The concept of world-class universities（WCU）has evolved.Many countries have begun to see a WCU as an essential part of their higher education reform agenda,national goal,and a key strategy for national development.Indeed,all universities are desirous of achieving world-class status.Everyone wants one,but no one knows what it is,and no one knows how to get one.There is no magic formula or any global guidance to make a world-class university.Every country,therefore,chooses its strategy,existing capabilities,and resources for its improvements among the various possible routes to create WCU.The concept of globalization inspired this kind of thinking.The education system declares it as a knowledge economy because it has a special role for research universities,as these factors are closely linked to global knowledge and multinational corporationsPakistan,as one of Asia’s developing countries,is confronted with the issue of education funding.Universities in developing countries,especially those in Asia and Pakistan,face poor governance,political non-stability,financial crisis,and security,despite the role of universities in teaching,conducting research,and training skilled workers in financial growth.Besides,during these 72 years of independence,there is no single university in Pakistan in the top 100 WCU.This study has chosen four independent variables:role of government,internationalization,higher education,and strength of the universities;two dependent variables:university development index and economic growth outcomes;one moderator variable:Socioeconomic level.The significance of these independent variables is vital and needs to be considered.This study will help improve the WCU’s awareness and growth that leads to institutional productivity,improvements in university outcomes in terms ofAPPROACHES TAKING AS AN EXAMPLE OF PAKISTANgraduation rates,a better reputation,and more publications（as it is one indicator for WCU）.Ultimately this will attract more talents,resources,development Index,and reputation in the world under The performance-based funding（PBF）theory is the resource dependence paradigm.One of the two key measurable academic and other attributes of a university that affects its attractiveness and is vital in the development of WCU is the university development index and an economic growth index.In contrast,improvement in graduation rates is referred to as the university development index.Further,economic growth is measured in terms of overall construction spending on infrastructure,facility acquisition,human resource creation,publicity strategies,and research and development.It is also measured in terms of recurring metrics such as wages and salaries,consumer products and service sales,and fixed capital expenditure（depreciation）.The overall goal of this research is to determine the impact of independent variables such as university potential strength and weakness,higher education impact,internationalization,and the government’s policies and funding support on the university development index and economic growth outcomes,as well as direct to develop WCU in Pakistan.The theoretical implications will contribute to the understanding,while the policy implications will be the advantages of combining theory and practice.The specific objectives include Obj1:to establish the relationship between independent variables and Socioeconomic level among universities in Pakistan;Obj2:to establish the relationship between independent variables and university development index in Pakistan;Obj3:to establish the relationship between independent variables and economic growth outcomes in Pakistan;Obj4:to is determining the relationship between Socioeconomic level with Economic growth outcomes among public universities in Pakistan;Obj5:to determine the moderating effect of Socioeconomic level on the relationship between independent variables and university development index among public universities in Pakistan;Obj6:to determine the moderating effect of Socioeconomic level on the relationship between independent variables and economic growth outcomes among public universities in Pakistan.In this analysis,both primary and secondary data sources were used.A semi-structured questionnaire was used to collect primary data.The questionnaire elicited responses from respondents（registrars,deputy registrars,research and development officers,and finance officers）on various items based on each independent variable’s measurements.The questionnaire contained open-ended questions,a nominal scale,and a five-point Likert scale,as well as items culled from a variety of literature sources that inquired at related variables.Furthermore,secondary data will be gathered using academic journals and recommending different methodologies to establish WCU from various literature sources that have examined similar variables.The primary data supports the secondary data figures and reflects the strength and weaknesses,the role of higher education,the importance of internationalization,positive government role,the impact of Socioeconomic levels,culture,and political involvement in the development of world-class universities.For ten years,blank data collection forms were used to collect data（2007-2017）.Two data analysis approaches（one:mean squares and the other:multiple regression analysis）were used to perform a detailed analysis.The relationship between independent and dependent variables was determined using multiple regression analysis.Objectives 1 and 4were analyzed using average squares derived from Statistical Packages for social sciences.Objectives 2,3,5,and 6 were analyzed by performing multiple regression analysis,while the Socioeconomic level moderating effect was evaluated on the relationship between independent variables and dependent variables.It cleared from the data extracted from the analysis that all independent variables have a strong positive relationship on Socioeconomic level.From the above results,it is also clear that internationalization has the strongest effect on the Socioeconomic level,with a positive beta coefficient value of 0.875.Its reason could be that learning from other country practices is different and implies that 85.6%of the variance in independent variables is explained by Socioeconomic level.Moreover,the relationship between independent variables and Socioeconomic level is very important and positive for the development of WCU with R（0.969）,R²（0.9389）,F value 198.31,and sign=0.000.Therefore,from the above indicates,it is clear that internationalization is the most significant predictor of Socioeconomic level among four independent variables and plays an important role in developing World Class University in Pakistan.Hence H₁ is accepted.The statistics indices indicate that the proposed model is a good fit.The beta coefficient values of independent variables indicate that 87.7 percent of the variation in the university growth index is clarified by four independent variables,most notably internationalization（beta value=0.755;standard coefficient p≤0.05）.The reason for this might be attributed to the non-payback nature and non-predicted response of uncontrolledAPPROACHES TAKING AS AN EXAMPLE OF PAKISTANvariables.It is clear from the statistics indices that all independent variables have a strong positive relationship to the university development index.Its reason could be because to learn from another country is pretty useful with time and cost-saving.Therefore,from the above indicates,it is clear that internationalization is a significant predictor of Socioeconomic level.Hence H₂ is accepted.It is clear from the analysis data that all independent variables have a strong positive relationship to economic growth outcomes.From the above results,it is also clear that government involvement and strength and weakness directly affect economic growth outcomes with a positive value of 0.609 and 0.516.It can be seen from statistic indices that a specific beta coefficient for various independent variables makes a significant contribution to the economic growth outcomes.In this particular case,67.1%variation in economic growth outcomes is mediated by Socioeconomic level factors and directly associated with government involvement and strength and weakness.The statistics indices indicate that the built model is a strong match,and the beta coefficient values for government participation（0.609）and strength and weakness of universities（0.516）indicate that 67.1 percent of the variation in economic growth result is correlated with and clarified by government involvement and strength and weakness of universities.Therefore,it is clear that independent variables are a significant direct positive predictor of economic growth outcomes from the above results.Hence,H₃ is accepted.The linear model has been generated using multiple regression to evaluate the impact of Socioeconomic level and university development index.It is clear that the model is insignificant（Sign.=0.797 p≥0.05）,which means there is no impact of Socioeconomic level on the university development index.Whereas the probability F-to-enter was≤.050,while the probability F-to-remove was≥.100.Moreover,the adjusted R²=0.114 is also too small.A linear regression model is not significant（Sign.=0.797）,implying that the Socioeconomic level of public universities of Pakistan is not a good predictor of the university development index.It shows that the relationship between Socioeconomic level and university development index is very weak and non-significant,implying that 1.0%variance of universities development index can be explained by Socioeconomic level.Therefore,the Socioeconomic level has a very weak negative effect on the university development index with a correlation coefficient of R=0.026 and adjusted R²=0.001,F=0.620,Sign.=0.797.Hence,it is clear that the Socioeconomic level is a non-significant predictor of the university development index.Hence,H₄ is accepted.It can be seen from the analysis of the data that the beta coefficient for various independent variables makes a significant contribution to the university development index.It means 92.1%variation of the relationship between independent variables and the university development index is mediating by Socio-economic level factor.While the standard coefficient p≤0.05 with positive beta values of government involvement（2.712）and strength（2.916）on economic growth outcomes.Therefore,from the above indicated,it is clear that the designed model is a good fit model,and it shows that independent variables are the significant predictor of the university development index.Hence H₅ is accepted.A specific beta coefficient for various independent variables makes a significant contribution to the economic growth outcomes.It means the moderating effect of the Socioeconomic level explains 89.6%variation in the relationship between independent variables and the economic growth index.Some changes,89.6%,are explained by government involvement and higher education factor on the economic growth outcomes.With standard coefficient p≤0.05 and（positive beta value=0.675）on economic growth outcomes and is mediating by the product variable SE*HR.The reason for this might be attributed to the non-payback nature of uncontrolled variables.Hence,H₆ is accepted.Additionally,the author argued and emphasized that good governance and strategic planning will help Pakistan achieve its mission of establishing world-class universities by setting ambitious priorities,ensuring sustainable financial support,and creating a consistent assessment mechanism that results in measurable strategic outcomes.