Table of Conten

1. Letter of Transmittal.............................................................................................................i
2. Declaration...........................................................................................................................ii
3. Acknowledgement..............................................................................................................iii
4. Abstract................................................................................................................................1
5. Introduction..........................................................................................................................1
6. Methodology........................................................................................................................1
7. Tertiary Education in Bangladesh........................................................................................2
8. The Quality Approach and Expanded Measures of Excellence...........................................4
8.1. Traditional measures.....................................................................................................5
9. Application of BSC in education.........................................................................................6
10. The Implementation of the Balanced Scorecard in Higher Education.................................8
11. Four perspectives of balanced scorecard............................................................................10
12. Conclusion..........................................................................................................................14
13. Reference............................................................................................................................15

i
 Abstract

The efficiency of an institution of higher education depends on the size of the available
resources and their efficient use, which is expressed using corresponding indicators e.g. the
duration of study. For this purpose there is a need of using new and intelligent models and
tools to control and evaluate the educational work. Such models give an emphasis in the
processes of developing criteria, techniques, and indicators, and facilitate measurement and
performance’s investigation. Current result showed that Balanced Scorecard gained
preferences of the administration of Educational Institutions. This paper presents a discussion
on balanced scorecards in the area of Higher Education Institution.

Introduction

Knowledge and quality are considered as critical factors in the global economy in today's
world where Higher Education Institutions (HEI) as knowledge centers and human resource
developers play a crucial role. Strategic planning and management allow the Institutions to
increase the adaptability with the environment and improve their performance. A well-
informed strategic management will increase the overall quality of the services provided in
the Institutions and Balanced Scorecard (BSC) can be considered as an appropriate strategic
management tool for this purpose. In this direction, the decision makers and administrators
will be able to organize the internal knowledge in order to support the mission of the institute,
to control the outcome services and to design the outcome knowledge due to the needs of the
society.
In our paper we used the balanced scorecards (BSC) as a tool of management and describe
how the application of balanced scorecards is beneficial for the management of higher
education institution in Bangladesh.

Methodology
Primary Source-We gain the primary knowledge about our report on balanced scorecards
from our Cost Accounting course conducted by our faculty. Her lecture on balanced
scorecards guided us all the way through and helped us a lot in the preparation of this term
paper and the understanding the report.
Secondary Source-We took help from the internet. We use different sites like scholarly
articles, research gate, Academia etc. we also take help form articles and papers on balanced
scorecards.

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 Tertiary Education in Bangladesh

Tertiary education, generally known as the post-secondary education, is the academic life
after the high school. It includes undergraduate, post graduate, doctorate, post doctorate
programs. The college section in some countries are also referred as tertiary stage of
education.
In Bangladesh, tertiary education starts from the university level which starts after
completing school/O-level and college/A-level phase. The beginnings of the present tertiary
instructing learning strategy in Bangladesh might be followed to the seasons of British India.
As inquired about and cited by Sharfuddin (1996, p.6), in 1835, the then Chairman of the
Education Committee of the East India Company, Thomas Rabington Mackle reported, "the
goal is to make a class of individuals Indian in blood what's more, shading however English
in taste, in sentiments, as a main priority and in acumen." This basically implied that the
British built up an arrangement of advanced education in frontier India that fundamentally
made just 'munshis' (for example agents) as they were normally known. Their expertise spun
around record and records keeping and drafting of reports. This pursued the pronounced
instruction arrangement of the East India Company which was to make a class of faithful
workers to work in workplaces of the British rulers. Inventiveness and free reasoning were
not required of a faithful hireling! Since that time, the locale where Bangladesh (prior known
as East Bengal) is arranged has confronted two wars of autonomy, one of every 1947 when
Pakistan (comprising of what is today known as Pakistan together with what is referred to
today as Bangladesh) split far from India and in 1971 when Bangladesh split far from
Pakistan. The second war is prominently known as 'War of Independence'. Autonomy has had
practically no constructive outcome on changing the fundamental instruction conveyance
system.

Tertiary instruction in Bangladesh contains two classifications of establishments: degree

granting colleges and schools partnered to the National University (NU). There were just 4
colleges in Bangladesh at the season of autonomy in 1971. Those colleges were openly
financed self-governing substances. At present, there are 29 such colleges. Private colleges
are a generally new wonder in this nation. In mid 1990s, private part approached to build up
colleges. Since the nation encountered a tremendous development in private universities– for
the most part in and around Dhaka and couple of other expansive urban areas. At present,
there are 92 Private Universities. Number of schools giving tertiary dimension training is
around 1,400. The majority of them offer BA (pass) instruction of three years' term and one
and only third of them offer B.A. (Praises) courses. These schools are subsidiary to the NU,
which means, NU grants the degrees. All things considered, access to tertiary dimension
instruction in Bangladesh is still restricted. Just around 12 percent of the year twelve alumni
can go into advanced education. In excess of 80 percent of these understudies are in the NU
associated schools. Others are in the general population and private colleges. Despite the fact
that the quantity of private colleges expanded in ongoing decade, the understudy populace
served by these private colleges is developing rather gradually.

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System: The University Grants Commission (UGC) is the main body of the government that
controls the higher education system of the country. The private universities are not funded
by the government, but they do need approval from the UGC. The National University has
the control over the tertiary colleges. NU sets up the curriculum and organize the exams for
the colleges. The recruitment of teachers is a bit different in public and private universities.
Private universities though have their own curriculum set for every activity. The tertiary
colleges are taken from BCS exam, a competitive public exam.

Quality assurance mechanism: Nonappearance of value affirmation component is a basic

issue in Bangladesh. Every state funded college depends alone system to guarantee quality.
This system incorporates educational modules audits by the Curriculum board of trustees,
evaluation of accomplishment and structuring future activity designs by the Academic
Council and so on.There is no arrangement for outside survey of value for the colleges. The
NU is in charge of keeping up the quality at the tertiary dimension universities. In any case,
the NU is occupied for the most part with organizing tests and distributing results and there is
no action to guarantee nature of the associated universities. The UGC does observing of
private colleges in a constrained degree. The private colleges need UGC's consent to open
and work divisions. Nonetheless, the vast majority of the private colleges have neglected to
meet the base prerequisites of physical frameworks, fulltime qualified personnel, libraries,
showing helps and different offices to give appropriate instruction.
Government approach: Bangladesh has as of late built up a National Strategic Plan for Higher
Instruction for the following 20 years. The key arrangement features real difficulties
confronting the area in Bangladesh and prescribes systems to address the issues. The vital
arrangement perceived, among others, constrained access, frail administration and the
executives of foundations, and low quality of advanced education are the serious issues which
should be tended to. The Plan proposed a number of approach changes and mediations to be
actualized in three back to back stages.
A portion of the key suggestions made by the arrangement are:
(I) Depoliticization of open colleges
(II) Setting up a national look board of trustees for choosing Vice-chancellors and
other senior authorities;
(III) Fortifying of UGC;
(IV) Foundation of accreditation gathering;
(V) Upgraded support for research; and
(VI) Improvement of methodologies for holding and creating quality instructing staff.

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 The Quality Approach and Expanded Measures of Excellence

The quality approach highlights external stakeholder focus, process effectiveness and
efficiency, benchmarking, human resource management, and integration and alignment
among components of the university system, which provides stimulant for the use of a more
extensive set of performance indicators.
The advantages of these indicators stretches beyond performance measurement, and adds to
self-assessment, strategic planning, and the formation of focus and consensus on goals and
directions within the university.
Balanced Scorecard concept addresses this need in a systematic way .This was developed by
a study group composed of representatives from major organizations including American
Standards. According to Kaplan and Nortan (1996, p.2), "The Balanced Scorecard translates
an organization's mission and strategy into a comprehensive set of performance measures that
provides a framework for a strategic measurement and management system."
From the perspective of Kaplan and Norton (1995, p. 10):
 The Balanced Scorecard should convert a business unit's mission and strategy into
tangible objectives and measures.
 The measures produces a balance between external measures for stakeholders and
customers, and internal measures of critical business processes, innovation, and
learning and growth.
 The measures are balance between outcome measures – the results of past efforts –
and the measure that drive future performance.
 The scorecard is balanced between objective, easily quantified outcome measures and
subjective, somewhat judgmental, performance.

To adopt this approach to higher education institutions, the following facts are to be taken
into account:
1. Analyze and obtain consensus about vision and strategic direction.
2. Communicate and connect strategic objectives and measures throughout the higher
education institutions.
3. Coordinate departmental and personal goals to the higher education institutions vision and
strategy.
4. Plan, select targets, and coordinate strategic initiatives.
5. Conduct periodic and systematic strategic reviews.
6. Get feedback to learn about and improve strategy.

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Similar to businesses, in a higher education, there are time-honored traditions relative to the
measurement of excellence. Instead of emphasizing primarily financial measures, higher
education has historically emphasized academic measures. By external accountability and
comparability, measurement in higher education has generally emphasized the most easily
quantifiable academically related variables.
Some examples are:
 student and faculty demographics,
 enrollment,
 grade point average (GPA), a
 scores on standardized tests,
 class rank,
 acceptance rates,
 retention rate,
 faculty-student ratios,
 graduation rates,
 faculty teaching load,
 number of faculty publications and grants,
 Statistics on physical and library resources.

Traditional measures:
According to Johnson & Seymour (1996), even the most important traditional indicators or
measures are subject to limitations. Like:
 They do not present a complete image of the status of institutions.
 They fail to reflect some of the key success factors for a college or university
 They cannot capture many of the dimensions of a university's mission, vision, or
strategic directions.
 In the instruction area, measures like student grade-point average, standardized test
score captivate "input" (the abilities that students bring with them to institutions), but
not the "outputs" (appraisal colleges and universities create by the teaching and
learning process) or benefits from attending.
 Although higher education assessment outcomes studies have contributed to
understanding of the teaching-and-learning process, the resulting measurement
frameworks have not been translated into indicators, useful for monitoring,
intervening in, or comparing institutional excellence.

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 Other variables detached to academics, intangible, or rarely susceptible to quantitative
analysis cannot make a focus for measurement. Dimensions like relevance, need,
accessibility, fulfillment of expectations, value-added, appreciation of diversity, student
satisfaction are not widely used indicators of excellence. In a broader sense, traditional
assessment frameworks fail to consider many other indicators of present and potential
excellence. (2019).

Application of BSC in education

It is evident that the BSC has been wide adopted within the sector however the education
sector has not embraced the BSC thought wide as indicated by the dearth of revealed analysis
on this subject (Karathanos and Karathanos, 2005). Cullen et al., (2003) planned that BSC be
utilized in academic establishments for reinforcement of the importance of managing instead
of simply observing performance.
The Rossier school of Education at University of Southern American state adopted the BSC
to assess its educational program and coming up with method according to Sutherland (2000),
(cited in Karathanos and Karathanos, 2005). Also Chang and Chow(1999) according during a
survey of sixty nine accounting departments heads that they were usually confirming of the
BSC relevancy and advantages to accounting education schemes. Ivy (2001) studied however
universities in each kingdom and African country use selling to differentiate their pictures
within the instruction market. At a time once higher academic establishments round the globe
face declining student numbers and decreasing funding grants it becomes imperative for them
to see their pictures within the eyes of their varied public's. Karathanos and Karathanos
(2005) additionally state that however the Baldrige Education Criteria for Performance
Excellence has custom-made the concept of BSC to education and discuss necessary
variations still as similarities between BSC for Business and BSC for education.
In education as in business there are acceptable conventions of measurement excellence.
Instead of accentuation money performance, education has stressed tutorial measures. As
within the case of business the stress of external answerability and similitude, mensuration in
instruction has usually emphasized those tutorial variables that are most simply quantitative
(Ruben, 1999). These measures generally unit designed on and around such aspects as
faculty/student numbers (ratios), demographics; student pass percentages and dispersion of
scores; class rank, grade scores; graduation rates; share graduates used on graduation; faculty
teaching load; school research/publications; statistics on physical resource (see library, laptop
laboratories etc.). Ruben (1999) indicates that one space worthy bigger attention during this
method of activity is – the students, faculty and employees expectations and satisfaction
levels. He opines that in most pedagogy centers little attention is paid to consistently measure
students’, college and workers satisfaction despite sharing the wide accepted viewpoint that
attracting and holding the simplest talent/people is that the primary goal and demanding
success issue for establishments of upper learning.
In a study conducted by Ewell, (1994) (cited in Ruben, 1999), the measures utilized in ten
states within the USA in performance reports of upper education establishments, were:

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  Enrolment/graduation rates by gender, quality and program.
 Degree completion and time to degree.
 Persistence and retention rates by gender, quality and program.
 Remediation activities and indicators of their effectiveness.
 Transfer rates to and from 2 and 4 year establishments.
 Pass rates on skilled exams.
 Job placement knowledge on graduates and graduates’ satisfaction with their jobs.
Faculty employment and productivity within the sort of student/faculty ratios and tutorial
contact hours.
Karathanos and Karathanos (2005) have compared the Baldrige Award and BSC criteria
within the context of education and have begun with measures closely aligned amongst each
the instruments (see Table I).
Education Business
1. Student learning results: results ought to 1. Customer-focused results: client
be supported a range of assessment ways, satisfaction measurements concerning
ought to reflect overall mission and specific product and repair options, delivery,
improvement objectives. Ought to reflect relationships and transactions that modify
holistic appraisals of student learning. the shoppers’ future actions.
2. Student and neutral targeted result: 2. Product and repair results: key measures
student and neutral satisfaction or indicators of product and repair
measurements concerning specific performance vital to the shoppers.
programmer and repair options. Delivery,
interactions and transactions that touch
student development and learning and also
the students and stakeholders future actions.
3. Monetary fund financial and market 3. Monetary and market results: come back
results: educational and general on investment, asset use, operative margins,
administration expenditure per student, profitability, liquidity, worth added per
tuition and fee levels, value per educational worker.
credit, resources redirected to education
from alternative areas, scholarship growth.
4. Faculty and employees results: 4. Human resource results: innovation and
innovation and suggestion rates; courses or suggestion rates; courses completed;
instructional programs completed; learning; learning; on-the-job performance
on-the-job performance improvements; improvements; cross-training rates;
cross-training rates; collaboration and measures and indicators of labor system
teamwork; data and talent sharing across performance and effectiveness;
work functions, units and locations; worker collaboration and teamwork; information
well-being, satisfaction and discontentment. and talent sharing across work functions,

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5. organization effectiveness results:
(including key internal operations
performance measures) capability to
enhance student performance, student
development, education climate, indicators
of responsiveness to student or neutral
desires, provider and partner performance,
key measures or indicators of
accomplishment of structure strategy and
action set up.
6. Governance and social responsibility
results: fiscal answerability, each internal
and external; measures or indicators of
moral behavior and neutral trust within the
governance of the organization; restrictive
and legal compliance; structure citizenship.
units, and locations; worker well-being,
satisfaction and discontent.
5. Structure effectiveness results: (including
key internal operations performance
measures) productivity, cycle time, provider
and partner performance, key measures or
indicators of accomplishment of structure
strategy and action arrange.
6. Governance and social responsibility
results: fiscal accountability, each internal
and external; measures or indicators of
moral behavior and of neutral trust within
the governance of the organization;
restrictive and legal compliance; structure
citizenship.

The Implementation of the Balanced Scorecard in Higher Education

Higher education systems are being under pressure because of having gap between skills
required by labor market and skills attained by graduates from higher education institutions
(HEIs). The percentage of unemployment rate among university graduates in several
countries has become incessantly higher throughout the past decade. The financial crisis arise
recently made this problem even more badly.
This problem has been forced the administrators of universities to take up a special approach
in that specialize in their missions, relaying their strategy across the structure processes. It is
counseled by practitioners and scholars that, through BSC, the reconciliation of the four
views of a University performance will be accomplished.
The applicability of Balancing Scorecard have been found in some studies to non-profit
organizations here universities or business schools are deemed to be non-profit organization
although in some cases private schools could also be driven by business motives. Their vision
and mission generally focus on a lot of to their client satisfaction rather than profit issues.
This institution will align their core values to handle any rising problems or rising
performance measurement.
 To provide a transparent structure for continuous quality improvement
 To establish a culture of educational quality.

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  To evaluate the economical use of resources for every of the tutorial programs.
 To document the contribution of every activity towards the mission of the HEI as well
as promoting personal and educational excellence.
 To determine priorities on future coming up with and desires assessment.
HEIs pay additional attention to income consequences in their various departments. It
absolutely was recommended that this proposition holds for each public and private academic
establishments. Once associate degree institution’s financial strategy is clearly outlined and
by choice enforced to focus on the academic outcomes, this may translate into overall success
of the educational institutions. [ CITATION AlH15 \l 1033 ]
Besides implementation of the BSC will use existing tools such a strategy Map to boost
clarity. This can be particularly helpful to guide the center management and operational
workers of the institutions, in addition as alternative non-technical stakeholders. Employing a
strategy map, all is ready to visualize however their activities contribute to the institutional
strategic goals and final outcomes.
A strategy map could be a handy tool that's accustomed provides a graphical photo of the
strategy of the institution. (Kaplan and Norton, 2000), the originators of the BSC have written
the foremost authoritative synthesis on the tools and supporting applications that will assist in
implementing the BSC in academic institutions. They exhibit that a strategy map provides a
visible insight into however individual actions of workers contribute to strategic objectives
and afterwards the general structure performance of the institution. This allows staff to
collaborate and coordinate their actions so as to attain most potency and effectiveness
whereas execution the institution’s mission. A strategy map is developed following the cause
and result relationships within the BSC. It’s structured during a prime to bottom vogue,
mapping out a destination and thereby clearly showing the route to be taken to attain it. Once
enforced, the watching by the institution’s board and top management are going to be easier.
A Strategic map is formed of 5 basic parts, typically from bottom to top: financial
Perspective, Learning and Growth Perspective, Internal method Perspective, Stakeholders
Perspective, additionally to[ CITATION AlH15 \l 1033 ] the Vision, Mission and Strategic
Thrusts; providing a visible framework that illustrates patterns of the cause and impact chain
connecting the required outcomes with the key drivers that are essential to attain them. As
such it provides a lot of sensible approach of implementing the BSC framework in education.
The potential benefits from using strategy map:
 Investments in college and workers training cause enhancements in service quality.
 Higher service quality ends up in higher client (stakeholder) satisfaction;
 higher client satisfaction ends up in enhanced client loyalty;
 Increased client loyalty generates positive word of mouth, enhanced grants/revenues
and surpluses that may be plowed into the system for any growth and development.
Within Bangladesh, there has been extended exploration of the applying of BSC in varied
manufacturing companies. several empirical studies like Ishtiaque et al.(2007), Mosarraf and
Ahmed(2008), and Khan et al. (2011) reported the employment of BSC model as a strategic
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performance measuring tool in industries like pharmaceutical, engineering, tannery, food and
allied, cement, ceramics, textile, etc. though financial measures were found to be dominating
within the producing sector, a decent range of firms were conjointly adopting non-financial
measures through the BSC model. Findings of Morium (2002) any recommended that the
BSC model are often a good tool for long strategic designing within the industry of
Bangladesh. However, there's a scarceness of analysis that highlights however the casual
linkages of the BSC model are often applied and worked among the banks. [CITATION Nis17 \t
\l 1033 ]

Four perspectives of balanced scorecard

Robert S Kaplan and David P Norton (1992) were the first ones to introduce balanced
scorecard through their Harvard Business article “The Balance Scorecard-Measures that
Drive Performance”[ CITATION Uma07 \l 1033 ] . They introduced the idea of BSC as a
framework that can measure organizational performance using a more balanced set of
performance measures. According to them Balanced Scorecard framework is a structural way
of uncovering the cause and effect scenarios in the adopted strategic management structure in
an organization with the help of four perspectives of BSC: financial, customer, internal
process, and learning and growth. The balanced scorecard framework provides specific

answers to four questions of critical concern, which are projected below:

Four perspectives of BSC are discussed below according to Kaplan and Norton’s findings:
1. Financial perspective: The financial perspective is considered to be the most imperative
perspective among the others, especially in relation to key strategy implementation and

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 assessment of organizations’ performances. Financial measures project the economic
consequences for the actions already taken by the organization and focus on the
profitability related measures on which the shareholders verify the profitability of their
investment[ CITATION Bab16 \l 1033 ]. Under this perspective the most used performance
measures are: return on investment (ROI), cash flow, net operating income, revenue
growth etc.
To verify the profitability or progress of educational institutions following measures can be
taken in respect of financial perspective:

Objectives Measures
Prosper Annual grants; amount of permanent endowment
Succeed Enrolment trend
Grow Enhancement in student intake
Survive Level of student enrolment; funding per student
Maximize More efficient and effective use of facilities, space, services,
systems and resources as measured by various usage studies and
asset utilization
statistics

2. Customer perspective: According to Kaplan and Norton, customer perspective can be

measured in two ways. First one is the “core measure group”, which includes customer
retention, market share, customer satisfaction, customer acquisition and customer
profitability. The other one guides the organization to the customer value position and
include the lead times, quality and attributes of the products. In educational institutions,
following measures can be taken in respect of customer perspective:

Objectives Measures
Quality academic advising Student satisfaction survey

Flexible course scheduling Alumni evaluation, graduating student survey

Quality instruction Accreditation, recruiter evaluation, professional

exam-passing rate
Faculty/staff Salary growth over period of time
Alumni Knowledge updating Alumni feedback, Alumni satisfaction survey
with passage of time Knowledge
reinforcement

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3. Internal process perspective: According to Kaplan and Norton, organizations should
keep on conducting advancement in products, services and internal processes for creating
more customer value. The process of innovation and advancement guided by needs of
customers contains four major processes: identification of the opportunities for new
products and services, managing R&D portfolio, designing and developing new
production and service, bringing novel products and services to the market. The
institution should keep on adding value to the processes in order to offer better service.
Commonly used measures for this perspective are: cost of quality, cost of non-
conformance, process innovation, time savings etc. In educational institutions, following
measures can be taken in respect of internal process perspective:

Objectives Measures
To achieve continuous improvement of service facilities to staff, Number of new
services, facilities and resources to products and services introduced i.e. new
improve new service development courses, syllabi, programs and curriculum
changes
Quality assurance Distribution of grades awarded, exit exam
or student competency evaluation
Internship program Number of internships available, number
of companies available, student evaluation
Cost efficiency Faculty-to-student ratio, educational
expenses per Student
Unique or specialized curriculum Number of faculty in specialized area,
number of schools offering the same
program

4. Learning and growth perspective: Every organization’s strategic structure should have
two major features which are: learning and growth. In general, this perspective is related
to the employees of the organization and it evaluates the degree to which the organization
exerts efforts to provide its workers with opportunities to learn and develop in their area.
Commonly used measures under this perspective are: employee empowerment, employee
motivation, employee capabilities, and information systems capabilities. In educational
institutions, following measures can be taken in respect of learning and growth
perspective:

Objectives Measures
Faculty professional growth Number of faculty presentations at conferences
Staff motivation and development Percent of budget spent on staff development,
staff satisfaction index in staff survey, number of

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 cross-trained or multi-skilled staff
Incorporating technology into Number of courses incorporating new technology
teaching
Innovation in teaching number of teaching innovation projects

Curriculum innovation Number of curriculum revisions in last five years,

number of new courses offered in last five years
Partnering with corporations for Number of firms involved, number of joint
campus recruitment activities
Resource management Number of campus partnerships, entrepreneurial
initiatives, trends in energy use

Following figure is a schematic model of BSC for institutions of higher education in India,
based on the model designed by Kaplan and Norton. This model can also be used in
Bangladesh. Most potential benefit of BSC is that it aligns with strategy leading to better
communication and motivation which causes better performance. With growing number of
science and business graduates in job employment abroad, Bangladesh has to build world-
class quality into higher education. In fact, a critical test of a scorecard’s success is its
transparency: from the 15-20 scorecard measures, an observer is able to see through the
organizations corporate strategy (Kaplan and Norton, 1993). Thus if Higher education
institutions apply the BSC to their organization they will be able to position their students and
programs positively in the minds of the international audience[ CITATION Arc16 \l 1033 ].

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 Conclusion

From this study we have found that by the support of senior supervisors the outcome of
balanced scorecards implementation is promising and successful. By emphasizing missions
and visions, Educational institution can learn from business and pay more attention to
educational costs and benefits in implementing performance management.
Also this can increase educational quality and create advantages in terms of national
competitiveness. The implementation of a strategy requires active contributions by everyone
in the institution. Each member of the institution needs to understand this strategy and,
beyond that, to conduct day-to-day business in ways that contribute to the success of the
strategy. Realizing these initiatives communication and education are key factors. But in its
turn, a successful balanced scorecards (BSC) can furnish feedback to each member of the
institution that can begin a virtuous cycle that can foster individual growth and the
improvement of institutional performance.

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 Reference

Babar, M. & Akter, D. M., 2016. Developing a Comprehensive Balanced Scorecard for the
Banking. Journal of Business Studies, Volume XXXVII, pp. 159-186.
Umashankar, V. & Dutta, K., 2007. Balanced scorecards in managing. International Journal
of Educational, Volume 21, pp. 54-67.
Al-Hosaini, F. S. (2015). A Review of Balanced Scorecard Framework in Higher Education
Institution (HEIs). International Review of Management and Marketing , 26-35.
Nisha, N. (2017). An Empirical Study of the Balanced Scorecard Model: Evidence from
Bangladesh. 834-850.
Patro, A., 2016. Using Balance scorecard in Educational institutions. International Journal of
Business and Management Invention, 5(11), pp. 70-77.

 (2019). Retrieved from https://www.ijbmi.org/papers/Vol(5)11/version-

2/G05110207077.pdf
(2019). Retrieved from http://ieomsociety.org/ieom2012/pdfs/357.pdf

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