Background of University’s Balanced Scorecard
The balanced scorecard is a management system (not only a measurement system) that enables organisations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve centre of an organisation.
The balanced scorecard suggests that we view the organization from four perspectives and to develop metrics, collect data and analyse it relative to each of these perspectives:
- The Financial perspective
- The Customer Services/Stakeholder perspective
- The Internal/Business Process perspective
- The Learning and Growth perspective
Through the Balanced Scorecard, the University aims to monitor both its current performance and its efforts to provide teaching, learning and research activities, improve customer services, streamline key processes, provide an environment in which its employees are motivated and developed, and enhance information systems. For each perspective, the key results areas (KRA) should be identified from which the key performance indicators (KPI) or being said as Key Amal Indicator (KAI) in UTM are developed with appropriate metrics or measurable targets. The implementation of the strategic plan must take into account the line of accountabilities.
Key Amal Indicator (KAI) serve as effective tools in observing change as a corollary of the strategic plan implementation. Using these comparable statistics, changes made to current processes can cultivate positive movement toward national prominence as identified within the strategic plan. KPIs allow the University community to monitor the extent to which UTM is approaching its organizational and strategic goals. Some of the KPIs represent simple headcounts or figures, while others can be more complex.
Updated, 2013 UTM Strategic Planning