Management Education: A Strategic Vista by Balanced Scorecard Method

R Alamelu,S.C Sivasundaram Anushan,S Selvabaskar

doi:10.19026/rjaset.7.867

R Alamelu, S.C Sivasundaram Anushan + Show 1 more

Open Access

https://doi.org/10.19026/rjaset.7.867

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Abstract

Quality improvement is a highly vital objective for the intensely competitive global business. During the past, Indian firms have been subjected to the clarion call that the quality of products and services need to be improved to match the level of their superior counterparts in foreign countries. The shift of manager's role in 21^st century provides the context of the quality challenges faced by graduate schools in management. There are several challenges of management education faces which require change in the character and structure of management education, integration of management education with corporate sector, up gradation of curriculum and course content, designing of different programs for executives, emphasis on research and consultancy. There is a huge gap between the vision and the strategy of management education institutions. The Balanced Score Card is a synergy tool that links vision and strategy to everyday action by translating the strategy in to strategic priorities and initiatives, relating these to clear tangible strategic outcomes and have to strive for: satisfied stakeholders, delighted customers, efficient and effective processes and motivated workforce. This study seeks to represent a framework for management education institutions in Madurai city using the four perspectives of Balanced Scorecard approach that can be used to identify critical success factors, possible measures for performance objectives and recommend strategies for realizing vision.

Highlights

The International economy evolving toward a global network pinpointing the value of knowledge, capacity of people and organizations to use techological advancements effectively and efficiently has emerged as a critical social concern
An interview schedule has been designed which consist of five constructs to survey the different stakeholders such as faculties, supporting staff who are having minimum 3 years experience, administrators and students to empirically validate the BSC model for management education institutions based on an extensive literature survey (Fig. 1)
The focus and role of management education institutions needs to be clear about their strategy, strategic positioning and alignment to the competitive environment

Summary

INTRODUCTION

The International economy evolving toward a global network pinpointing the value of knowledge, capacity of people and organizations to use techological advancements effectively and efficiently has emerged as a critical social concern. It demands a Strategic change towards quality management practices. The focus and role of management education institutions needs to transform their structures, mission, processes and programs in order to both flexible and more responsive to changing social needs. There needs to be a strategic framework which provides a linkage between vision, objectives and measures to monitor the perform once of these institutions. Developed by Kaplan and Norton (1992) as a strategic management system, the model supported the translation of an organisation’s vision and mission into objectives, measures and targets in four different areas: the financial perspective, the customer perspective, the internal business perspective and the learning and innovation perspective. The present study focuses on the strategic framework of management education institutions using BSC model (Fig. 1)

LITERATURE REVIEW

METHODOLOGY

Objectives of the study:

Findings

CONCLUSION