Higher Education Strategy Performance: Balanced Scorecard and Factor Analysis
摘要
The Balanced Scorecard (BSC) is widely used model for measuring strategic performance. It is popular because it synthesizes a huge number of models into a single tool made up of strategic perspectives. The triumph of Higher Education Institutions (HEIs) is the core of education growth. However, HEIs have been criticised for not performing their role and not being able to assess and manage their performance because of the agile education environment they conduct their business operation. Implicitly the BSC is a theory that proposes a causal link between perspectives and superior performance. Although there is a growing emphasis on measuring strategic performance the conceptualization of an agile scorecard does not exist yet. This paper aims to offer an implementable conceptual design by integrating Factor Analysis (FA) and BSC for measuring strategic performance. It also focuses on the underlying theoretical foundation and assumptions of the BSC in the context of higher education. It explores ideas that emerge from recent literature on the Violation of Causal Impendence (VCI). The paper also offers new insights by showing how the BSC model can be applied more effectively using factor analysis. The robustness of factor analysis integrated with BSC provides a unique architecture ability for measuring strategic performance. The advantage of FA is that both a measurement model and a theory that uncovers causal relationship that enables managers to uncover situations in which causal independence is violated. The findings emphasize that a dynamic BSC (FA-BSC) is a necessity to gain agility and achieve success. Finally, this research has broader implications for BSC leaders and decision-makers in higher education and practitioners involved in strategy implementation, and to use the insights of this study to refine the applicability of BSC implementation using- rational design as dynamic measures mechanism.