Implementation of Balanced Scorecard

Abstract

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.

Developing a Performance Evaluation Framework Structural Model for Educational Metaverse

“…They emphasized the need for a comprehensive approach combining process modeling, performance measurement, data mining models, and data technologies, especially pertinent to medical universities. The Balanced Scorecard was suggested as a foundational model for assessing higher education institutions, suitably tailored to their organizational and administrative frameworks [34][35][36][37][38][39].…”

The relationship of balanced scorecard perspectives and government organization performance measurement

“…The financial perspective of Indonesian schools, set through budget allocations quality, financial support for academic and extracurricular activities, budget allocation policies and completion of school financial accountability reports, determines the effectiveness and efficiency of school financial management. BSC implementation improves educational institution transparency and accountability (Oliveira et al. , 2021).…”