1)What is Balance scorecard (BSC)? 2)Any differences of BSC from one university to another? Discuss why...

1)What is Balance scorecard (BSC)?

2)Any differences of BSC from one university to another? Discuss why or why not.

3)If our vice-chancellor wants to improve the university’s goal and performance, what are the characteristics that he has to take to achieve the goals (base on BSC). Give specific examples.

Solutions

Expert Solution

Answer 1

Balance Scorecard

The company performance is not only measured in the terms of financial parameters in the long run but there are certain other parameters which influence the performance of the company in the long run.The balance scorecard here comes into the picture. Although the primary object of the business is to make profit but in the long run wealth maximization is also plays an important role which can be achieved by four perspective as discussed below:

The Four Perspective of Balance Scorecard.

Financial perspective	Process perspective
Customer perspective	Employee perspective

1. Financial Perspective

The primary objective of the business is to earn the profit. We can compare the company position by calculating the financial ratio. But according to the score card, making profit is not only organization objective.

2. Custom Perspective

We should also look out the company performance from the view of customers. How many customers we are able to retain etc is also plays an important role in the development of wealth maximization.

3. Employee Perspective

Learning and growth of the employees also plays an important role in the wealth maximization.

4. Process Perspective.

Whether we are able to identified the process which is no longer required. Whether we are able to cut the process time. This perspective is also the parameter of the company performance.

Answer 2. Balance scorecard of one university may or may not be different from the other university. This totally depends on the University goal but at the end the above four mentioned perspective would also be the perspective from the university point of view.

Answer 3.

Vice chancellor should maintain the good attitude towards the student of their university.
Vice chancellor should also organize time to time, the seminars for the teacher for their leaning and growth.

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