In the early 1990’s, Dr. Robert Kaplan of the Harvard Business School developed a new approach in strategic management called the ‘balanced scorecard’. The balanced scorecard is a management system used to assist organizations in measuring their vision and strategy from both a financial and non-financial perspective. It provides feedback on internal business processes and external outcomes to provide a foundation for assessing strategic performance. The balanced scorecard suggests four individual views of an organization to develop metrics, collect data, and provide analysis – Learning and Growth, Business Process, Students and Parents, and Financial. How does this work? An organization must identify what their objectives are and how they wish to measure them from the four perspective quadrants – Learning and Growth, Business Process,Students and Parents, and Financial. There is an old adage that says, “What gets measured gets managed.” For example, an objective that many institutions ...
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