Implementation of The Balanced Scorecard Method in Determining Performance Measures in Higher Education Institutions (Case Study: ITB Swadharma)

Abstract

To compete in higher education, ITB Swadharma needs to enhance its competence by designing and implementing effective strategies in managing higher education that align with its vision and mission. The success of management strategy can be achieved through a comprehensive evaluation of ITB Swadharma's management effectiveness. The Balanced Scorecard method and the interaction between ITB Swadharma's management and the PMB entity's management can be used to create a Balanced Scorecard strategy map. This map involves three strategic objectives from the perspective of development and advancement of learning, three strategic objectives from the perspective of internal business process efficiency, four strategic objectives from a customer satisfaction perspective, and two strategic objectives from the perspective of financial stability. To achieve these two strategic objectives in terms of financial aspects, a lagging indicator is required. Each strategic objective from the customer perspective requires actions. Strategic Objective 1 from the internal business process perspective requires 5 measurements, Strategic Objective 2 requires 3 measurements, and Strategic Objective 3 requires 3 measurements. Meanwhile, from the perspective of learning and growth, Strategic Objective 1 requires 1 measurement, Strategic Objective 2 requires 3 measurements, and Strategic Objective 3 requires 1 lagging indicator measurement and 1 leading indicator measurement.