PROPOSAL FOR THE IMPLEMENTATION OF THE BALANCED SCORECARD IN MANAGING HIGHER EDUCATION INSTITUTIONS (original) (raw)
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The functional efficiency of an institution of higher education depends on the size of the available resources and their efficient use, which is expressed using corresponding indicators e.g. the duration of study. Therefore, there is a need of using new and intelligent models and tools to control and evaluate the educational work. Such models give an emphasis in the processes of developing criteria, techniques, and indicators, and facilitate measurement and performance’s investigation. Recent research showed that Balanced Scorecard gained preferences of the administration of Educational Institutions. This paper presents a discussion of basic elements in a balanced target setting in the area of Higher Education. Keywords Higher Education Institution; Balanced scorecard; Strategic management; Quality criteria; KPI, Quality assurance; Quality strategic Map; ADOscore;
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European higher education institutions (HEIs) in the last two decades have faced a number of challenges: reduced public funding, increased competition from foreign and private universities, constant pressures and demands for their greater quality, and constant changes of education laws and legal regulations. The only way for fast adjustment of HEIs to the new competitive conditions is to explore all possibilities for effective implementation of some of the most popular management concepts such as Balanced Scorecard (BSC) system. Although the application of the BSC in the business sector is well documented, limited research has been reported regarding the application of the BSC in the education sector. For this purpose, relied on the existing literature, reported results and experiences from its implementation in business, firstly, we propose a suitable process for building a BSC system for HEI, and then we design a specific Strategy map and BSC system applicable for the Faculty of Economics-Skopje, Ss. Cyril and Methodius University, easily adaptable for implementation in other HEIs.
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A Review of Balanced Scorecard Framework in Higher Education Institution (HEIs
Many studies have been conducted to investigate the effectives of the BSC in organisations. It is observed that many organisations adopt different perspectives suitable for their functions in line with their vison, mission and strategic themes. Some reseachers have highlighted its relevance to Higher Education institutions. However, previous studies have not defined wich perspectives are most relevant for public HEIs, which are not for profit by nature. Higher Educational Institutions (HEIs) are involved in routine processes of providing tertiary education in colleges, universities, and institutes including both undergraduate and postgraduate programmes, vocational and education training. One of the aims of HEIs is to achieve results in terms of products and services for the customers and other stake holders. In this paper, we review recent studies in top journals using the Balanced Scorecard Framework in HEIs. The paper identifies the relenvant perspectives for HEIs and presents its contextual analysis. When implemented, this can be used to monitor their performance and enable them to adjust to emerging challenges that come as a result of implementing key strategies.
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Considering the lack of research focusing on the use of the Balanced Scorecard (BSC) as performance evaluation tool in Emirati higher education institutions, the main purpose of the study is to present a basis for a more general BSC model helping higher education managers in UAE environment for evaluating and managing the performance of their institutions. This paper is based on the case study as a research method. However, the relevance of this case study lies in the use of a joint approach combining SWOT analysis and BSC and generating an integrated strategic management system. The study comes up with a strategic evaluation plan considering the 4 BSC perspectives and designs the strategy map for it in the case of the Emirates College of Business. In this research, the traditional customer perspective of Kaplan and Norton is replaced by the students and stakeholders perspective. It is found that there is a limitation in the effective strategic problem that leads to the recruitment ...
Implementation of Balanced Scorecard: Case study of a Portuguese higher education institution
DOAJ: Directory of Open Access Journals - DOAJ, 2021
Contemporary organizations need to follow their performance over a continuous period, as the short period is not enough to provide complete control. Bearing this in mind, performance measurement indicators must be reflecting the organizational strategy, not just in the short term, but also in the medium and long term. In the past, especially in industrial enterprises, a high interest in measuring organizational performance was noted. Afterward, the need for effective performance management has also gained increased recognition and interest in Higher Education Institutions (HEIs). Considering the transversal demand for management control tools, the Balanced Scorecard (BSC) gained special highlight, based on its four interlinked perspectives (financial, customer, internal processes, and learning & growth), originally developed by Kaplan and Norton. The BSC was selected for this research, as it has been already implemented by multiple HEIs, to guide managers and directors in their decisions and contribute to greater efficiency. It was, therefore, also selected for the implementation by an analyzed Portuguese higher education institution. This research aims to contribute to the empirical and practical understanding of BSC implementation in higher education, whilst providing orientation to directors and managers of HEIs. With the implementation of this tool, managers and directors can monitor the organizational performance and follow the defined strategy in the medium and long term. Based on these findings, other institutions could use this study as a guide and a benchmark.
Balanced Scorecard in Universities
Objective: Performance measurement and reporting leading to greater transparency and accountability of universities have become a challenging issue. Increasingly, universities have been required to provide performance indicators-empirical evidence of their value creation-to the different group of stakeholders. One of the approaches that may be applied by universities is the Balanced Scorecard (BSC). The objective of this paper is to indicate the BSC as a useful tool for the evaluation of the universities' performance. Methodology: This study is based on the following research methods: descriptive, deductive, and the literature review. It refers also to case studies that are quoted in the context of their practical BSC application experience and it presents the pioneer approach of California University in BSC adoption. The rationale of this paper follows the principal-agent theory that is a foundation of the accountability concept. It refers also to the new managerialism, new public management, and entrepreneurial university.