A Study on Balanced Scorecard – A Tool to Analyze the Performance of a Management Institutes

Abstract

Balance scorecard is an important dimension to analyze the performance of any organization. The various dimensions of balanced scorecard are Financial Performance Dimension, Customer Satisfaction, Learning and growth (Knowledge and innovation) an Internal Business Operations (efficiency) and Vision and Strategy of the organization. Gradually the financial perspective is increasing its demand in organizations. It is generally not used by the management institutes for analyzing or justifying productivity and salary increment of the faculties. Similarly the emphasis of it should be done in Management institutes as the need emphasis is usually absent in the management institutes. This will help to get the details of high performers and low performers in the various B schools. Hence it is almost similar to the appraisal system.

 This study present a random sample of 34 management faculty comprises of 17 men professors and 17 women professors who were interviewed using a survey questionnaire. The major financial measures comprises of cost cutting, increasing revenue, fair allocation of funds, and giving incentives to employees. The study recommends models which will help the management institutes to put the financial perspective on the top of all other dimensions so that it can lead to the satisfaction of the management.