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http://dx.doi.org/10.7469/JKSQM.2014.42.3.425

A Study on BSC development and Strategy execution plan for Private education service field  

Jeong, Min-Eui (Korea Maritime and Ocean University Graduated School, Department of Shipping Management)
Yu, Song-Jin (Korea Maritime and Ocean University, Department of Shipping Management)
Publication Information
Journal of Korean Society for Quality Management / v.42, no.3, 2014 , pp. 425-444 More about this Journal
Abstract
Purpose: This study aims to overcome the problem of private education market environment which is polarized into commercialized large private education institutions and small and medium sized private education institutions in a poor business environment, and develop systematic performance measurement model applicable for small and medium sized private education institutions. Methods: To develop the BSC which measures financial and non-financial indicator in a balanced manner and introduce the BSC into private education institutions that contain conflicting goals "EDUCATION" and "PROFIT". In particular, Utilizing the methodology of AHP, the priority of strategies and execution assignments are derived. Results: BSC model was developed and introduced by cooperating with executives of the private education institution. Moreover, the study permits to achieve the strategy, enterprise-wide vision and mission by deriving strategy map and applying it to the private education institution. To measure the performance of BSC model instruction, KPI corresponding to the strategic objectives of each perspective was derived. Conclusion: BSC model generally introduces to large-sized companies and public institutions. In this study, BSC model is developed by focusing on small and medium sized private institution. Furthermore, this study is more than simple model development, it makes a connection with achievement of strategic objectives, enterprise-wide vision and mission through strategy map and strategy execution method. Through the developed BSC model and strategy execution method, utilization plan in practice and customized model for private education institutions coexisting profit and non-profit objectives were developed, and academic implications were presented.
Keywords
Balanced Scorecard; Strategy Map; Critical Success Factor; Analytic Hierachy Process;
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