The application of balanced scorecard in the performance evaluation of Essay

The application of balanced scorecard in the performance evaluation of higher education - Essay Example In the case of non-proï ¬ t organizations, the BSC lays huge emphasis on customer satisfaction and therefore a priority is given in all matters regarding to customer services. in organizations where a financial crisis is a daily affair, their BSC prioritized financial perspective. Focusing on different prioritization perspective of BSC, organizations have an opportunity to allocate resources appropriately with minimal wastage or fraud. The study case has also provided a platform for non-profit organizations to measure how they perform. In this, performance measure indicators (PMIs)are applied as indicators of efficiency. Again, different definition of PMIs can be adopted to fit the objectives of the business. In case of institutions of higher learning, â€Å"student/staff ratio† and â€Å"Ph.D ratio† PMIs are appropriate. For manufacturing concern, â€Å"customer satisfaction† is applicable while â€Å"service delivery† PMIs works with non-proï ¬ t org anization. Though implementation of the BSC has not been effected in Taiwan and other developing countries, America and Europe are already reaping its benefits. BSC is yet to gain momentum and relevant in third world countries. However, this study has clearly demonstrated that BSC can be instrumental in delivering positive changes in strategic and performance management in higher learning institutions. Furthermore, the study has recommended that senior management and supervisors must fully support the implementation of system managing tools, otherwise they are destined to failure. In conclusion, institutions should me motivated by their vision and mission so that they are run like any other business where efficiency is highly