Although more universities are applying the
Balanced Scorecard most, especially those in the
United States, are applying it only to revenuegenerating
units rather than to academic functions.
One possible explanation for this is that the
Balanced Scorecard has been historically used
primarily in commercial entities, so it is first being put
to the test in commercial departments rather than
academic ones. In addition, when applying the
Balanced Scorecard at universities, a strategy map
of the entire university is rarely defined. Most
universities that apply the Balanced Scorecard for
the university as a whole categorise the performance
measures into the four prescribed perspectives, but
fail to provide a causal linkage to strategic objectives
of those measures. There was also no evidence that
a universityûs stakeholders are involved in the
process of building the Balanced Scorecard. This
study therefore seeks to balance these shortcomings
by constructing a strategy map of Thammasat
University based on opinions on strategic objectives
obtained from university stakeholders