Register to read the introduction…
Kaplan and David P. Norton in 1992 (Kaplan and Norton, 2004). The BSC is a strategic planning and management system to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals ("What is the,"). It also suggests that management (university leaders) view the organization from four perspectives: financial, customer, internal, learning and growth. However, the best way to implement this framework is to apply it at the university level followed by the business school level. This facilitates a cascading approach which aligns the business school's vision, mission statement, and strategies to the university's overarching vision, mission statement, and strategy. Not only will the BSC provide a blueprint for strategy for the university and business school, it will also foster an environment to adopt new business processes that will transform inputs into useful outputs based on the agreed strategy and thereby add value (Meredith, & Shafer, 2009, p. 7) to the university, individual schools, and all of their constituents. Exhibit 1 shows the recommended strategic planning process that should be implemented at both the university and business school levels
…show more content…
Moreover, given the amount of intellectual capital within an academic institution, it is imperative that the docents, assistant docents, lecturers, professors, and administrators be included in the BSC strategic planning process. A method the Dekan can use is the Virtuous Strategy Cycle (Martin, 2010). It is a framework that enables employees (faculty) to send information back upstream, improving the knowledge base of decision makers higher up and enabling everyone in the organization to contribute and make better choices (Martin, 2010). The employee is now not only the brain but also the arms and legs of the organization. He is both a chooser and a doer. Employees are made to feel empowered, and the whole organization …show more content…
However, this depends on the university's strategy. If the intent of the increased compensation was to motivate the university's faculty to increase enrollment, then the higher compensation failed resulting in higher unit costs for the university. Conversely, if enrollment capacity is sufficient and the intent was to motivate the faculty (input) to improve the graduation rate (output), then the higher compensation could potentially succeed if it met the university's graduation rate goal. Therefore, value would be created for the university. The increase in compensation, even though the amount of students taught are the same, can only be determined based on the context of what the underlying strategy was to accomplish given an increase in
Moreover, given the amount of intellectual capital within an academic institution, it is imperative that the docents, assistant docents, lecturers, professors, and administrators be included in the BSC strategic planning process. A method the Dekan can use is the Virtuous Strategy Cycle (Martin, 2010). It is a framework that enables employees (faculty) to send information back upstream, improving the knowledge base of decision makers higher up and enabling everyone in the organization to contribute and make better choices (Martin, 2010). The employee is now not only the brain but also the arms and legs of the organization. He is both a chooser and a doer. Employees are made to feel empowered, and the whole organization …show more content…
However, this depends on the university's strategy. If the intent of the increased compensation was to motivate the university's faculty to increase enrollment, then the higher compensation failed resulting in higher unit costs for the university. Conversely, if enrollment capacity is sufficient and the intent was to motivate the faculty (input) to improve the graduation rate (output), then the higher compensation could potentially succeed if it met the university's graduation rate goal. Therefore, value would be created for the university. The increase in compensation, even though the amount of students taught are the same, can only be determined based on the context of what the underlying strategy was to accomplish given an increase in