Performance Management in Institutes of Higher Education Through Balanced Scorecard: A Conceptual Study

Abstract

The purpose of this paper is to show how the Balanced Scorecard approach, a performance management system, could be implemented at institutes of higher education. Balanced Scorecard is a strategic weapon for all organizations including Educational institutes and especially institutes of higher education. The implementation of the BSC approach is presented. This paper tries to study use of BSC in various universities across the globe, the various approaches and perspectives used with examples; its use in Indian environment is also studied. The paper points out that the BSC approach is well suited to a higher education situation esp. for aligning various perspectives with strategy of the organization. Recommendations are given for the use of BSCs effectively for improving institutional performance.