9th Economics & Finance Conference, London

ADAPTATION OF A BALANCED SCORECARD FOR AN ACADEMIC UNIT IN A HIGH EDUCATION INSTITUTION IN CHILE

ALEJANDRO TORRES MUSSATTO, OSCAR SAAVEDRA RODRIGUEZ

Abstract:

The higher education system in Chile is in a complicated and uncertain situation today due to political university changes,economic conditions, social demands and technological advances. In order to achieve long-term viability within a competitive and uncertain environment, the universities in Chile have had to update their methods of strategic direction and integrated management control systems. One of the initiatives was to reach university management by basing it on strategic units (SU). Each academic unit or Department had to focus its limited resources on its mission, strategic goals and alignment of their operational activities (teaching, research, extension, culture, etc.), which were held accountable for their decision-making by the same institution and Chilean society. The main purpose of this research was to propose an adaptation to the Balanced Scorecard (BSC) and apply it in an academic unit of a University in Chile. The proposal is based on the research of four Chilean universities and several domestic and foreign offices of these universities. It consists in the creation of a performance measurement system and accountability, generating a record of reliable information of the goals reached together with getting feedback on the performance achieved. As well as the incorporation of an active directory management tool to promote its self-organization, self-assessment, management self-regulation , strategic thinking and continuous improvement.

Keywords: Balanced scorecard, worldwide universities, strategies, performance measurement system.

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