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The Performance of Institutions of Higher Learning (IHL) is one of the important factors in pushing Malaysia to become an international education hub. In Malaysia, Private Institution of Higher Learning (PIHL) constitutes about 85% of the tertiary education sector in Malaysia. In order to materialize this aim, PIHLs must adopt the most ideal perfor...
Contexts in source publication
Context 1
... the years, the BSC concept has changed through a series of papers and books published by Kaplan and Norton changing the scorecard concept from an innovative, but relatively simple performance measurement tool, to a complex Performance Management System (PMS) (Kaplan & Norton 1992;1993;1996;2001). The integration of the four perspectives as shown in figure 1 creates a "balanced" approach to overcome the limits of traditional PMS which depends on financial outcomes (Micheli & Manzoni, 2010;Yuksel & Coskun 2013). The BSC is a complete and thorough framework that helps in translating the organization's strategic objectives into a coherent set of performance measures. ...
Context 2
... is done so that effective measurement becomes an important part of the management process. BSC focuses on four points of view as shown in figure 1. The financial perspective is important for shareholders and stakeholders, especially relating to the key strategic implementation and assessment of organizations' performance. ...
Similar publications
The Performance of Institutions of Higher Learning (IHL) is one of the important factors in pushing Malaysia to become an international education hub. In Malaysia, Private Institution of Higher Learning (PIHL) constitutes about 85% of the tertiary education sector in Malaysia. In order to materialize this aim, PIHLs must adopt the most ideal perfor...
Citations
... Sayed (2013) and Ahmad and Kim-Soon (2015), among others, propose establishing the Financial and Clients perspectives at a same level, meaning that the financial performance is not the final objective of the institutions. In the same way, in their survey about Malaysian Private Institutions of Higher Learning Ariff et al. (2019) they found that most institutions have changed the name of the clients and financial perspectives. The importance of the BSC for this type of organizations relies on the improvement in their performance by linking the mission and strategy with a learning model that allows continuous improvement (Umayal Karpagam and Suganthi 2012). ...
... For example, for a public institution the main objective may be to be successful in achieving the purposes of clients (such as students, society, and stakeholders) and the financial perspective would be just a mean for supporting the clients. However, for a private institution the main objective may be the achievement of financial objectives, although this is not always the case, as described by Ariff et al. (2019). Having said this, it is important to point out that the design of a strategy map that represents the organization strategy is a component of a strategic management system that would support the strategic decisions of educational institutions. ...
This paper proposes a quantitative method for the selection of strategic objectives and causal relationships to be included in a strategy map of a Balanced Scorecard. A strategy map usually contains the strategic objectives of an organization, grouped into four perspectives: (a) finances, (b) clients, (c) internal processes, and (d) growth and learning, all of them linked through cause-effect relationships. The use of quantitative tools, such as multicriteria decision making, has been proposed to model a strategy map and to select the causal relationships to be included. However, no work has been found in the literature to select the strategic objectives to be incorporated into the map. This is the gap that is addressed in this paper. To overcome this gap, the proposed method incorporates a fuzzy multicriteria method known as DEMATEL (decision-making trial and evaluation laboratory) with an optimization model to choose the strategic objectives and their causal relationships. DEMATEL is used to set priorities to the components of the strategy map, whereas the optimization model selects those to be included by producing the appropriate balance between conflicting goals that appear in building a strategy map (minimum amount of relationships among strategic objectives, maximizing the weight of the relationships/objectives selected). As an illustrative case, the method is applied to a higher education institution where expert judgment in this field provided validation of the strategy map designed.
