Measuring performance in higher education
Higher education institutions have been working towards establishing performance
indicators to measure progress towards their goals and objectives. A plethora of
measures and other efforts has flooded the literature of higher education. However,
Kaplan and Norton (1992) developed the balanced scorecard as a model which was
aimed at translating vision and strategy of an organisation into objectives, measures
and targets in four different areas: the financial perspective, the customer perspective,
the internal process perspective, and the innovation and learning perspective. They
argue that the financial measures show the results of actions already taken, and
suggested that these financial measures need to be complemented by operational
measures on customer satisfaction, internal processes, and the organisation’s
innovation and improvement activities; these operational measures being the drivers
of future financial performance.