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Corresponding Author

Mohammed Fayazuddin

Keywords

Balance Scorecard, Strategic management, Quality assurance in University, NAAC Accreditation, performance measurement

Document Type

Original Research Article

Abstract

The Balanced Scorecard (BSC) is a versatile framework for performance measurement and strategic management. It has been widely successful in helping businesses and institutes of higher education (IHE) implement strategies and achieve their mission and vision by maintaining a balance between financial and non-financial metrics. Globally, numerous universities have adopted the BSC to enhance quality and address the needs of stakeholders effectively.This study explores the adoption of the Balanced Scorecard in universities, examining its advantages, prerequisites, and challenges. It also establishes a link between the four perspectives of the BSC—financial, customer, internal process, and learning and growth—and the thirty-four key indicators of the National Assessment and Accreditation Council (NAAC). NAAC, an Indian accreditation system tailored for higher education, is a well-defined and matured framework. Its comprehensive structure has the potential for global adaptation, offering a standardized approach to evaluating institutional performance and excellence.Based on experiences from institutions that have implemented the BSC, this study highlights potential shifts in organizational culture and management practices that universities may need to undertake. Previous research indicates that the BSC has been adopted by thirty-eight universities globally (Sayed, 2012) and has often been considered a "good fit" for educational institutions (Brown, 2012). By reviewing existing literature, this paper also identifies challenges faced by IHEs in adopting the BSC and examines the prerequisites and capabilities necessary for institutions to maximize its benefits.

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