New Public Management (NPM)-inspired higher education (HE) governance has become increasingly topical in recent years. However, while existing research provides an overall understanding of relevant changes, it does not offer a complete analysis of complex governance and falls prey to deterministic and relatively narrow ideological impositions. Scholars are overwhelmingly oriented toward governance models or modes and the ideas of efficiency, effectiveness, and competition in NPM. They either promote these aspects as an approach to organizing HE governance or criticize them in addition to evaluating or comparing their outcomes. Therefore, based on a literature review and drawing on Foucauldian ideas of political rationality, this paper proposes a shift from the ideology-based problem-solving paradigm to a renewed approach. By calling for an increased focus on bottom-up initiatives that stem from below while studying NPM-inspired HE governance, this paper recommends conducting a discourse analysis of technical policy papers together with empirical-analytical studies to identify interpretive political rationalities and histories. Overall, the approach proposed in this paper would limit the deterministic mode of policy analysis and lead to more refined ways of understanding HE governance in certain fields, clarifying problematic situations, and effectively estimating future directions.