How does the Balanced Scorecard (BSC) aid in strategic management and performance tracking for IES institutions?
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The Balanced Scorecard (BSC) serves as a valuable tool for strategic management and performance tracking in IES institutions. It enables these institutions to shift from a solely financial-focused approach to a more comprehensive model that considers various perspectives. The BSC includes financial, customer, internal business process, and learning and growth perspectives, providing a holistic view of performance. By setting objectives, defining measures, establishing targets, and implementing initiatives based on these perspectives, IES institutions can align their strategic goals with operational activities, monitor progress, and make informed decisions for continuous improvement. Through data collection and analysis, the BSC facilitates the identification of strengths, weaknesses, and areas for enhancement, ultimately enhancing competitiveness and aiding in the achievement of institutional strategic objectives.
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| Papers (5) | Insight |
|---|---|
| The Balanced Scorecard (BSC) aids IES institutions in strategic management by aligning mission, vision, objectives, measures, and actions to improve internal functions and external outcomes through data-driven decision-making. | |
| The Balanced Scorecard facilitates performance measurement in Higher Education Institutions by developing indicators for monitoring financial and non-financial factors, aiding in strategic management and performance tracking. | |
| Not addressed in the paper. | |
| The Balanced Scorecard (BSC) aids in strategic management by aligning objectives with measures in financial, customer, internal processes, and learning/growth perspectives, facilitating performance tracking in educational institutions. | |
| The Balanced Scorecard (BSC) aids IES institutions by aligning strategies, communicating vision, and integrating planning, enhancing performance tracking and management effectiveness in education. |
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