Balanced Scorecard and Private Universities’ Performance in South-Western, Nigeria

Abstract

Performance evaluation is a means of measuring performance. The purpose of measuring performance is not to indicate only where things are not going according to plan (i.e. corporate strategies) but also to identify why things are going well (operational concerns) so that steps can be taken to build on success. This study was carried out to examine the suitability and capability of private universities in south-western, Nigeria in the evaluation of performance. It also revealed the effects of Balanced Scorecard (BSC) on performance evaluation of private universities. The study adopted a descriptive survey design with primary sources of data and 300 structured questionnaires were administered as well as a personal interview conducted. The population of the study is 61 private universities in the country. The study only focused on 3 private universities on the basis of religion faith-based (Christian-faith, Islamic-faith and others).  Data collected from the questionnaires were analysed using simple percentage and chi-square. The study revealed that the Balance Scorecard (BSC) is suitable and private universities have the capacity to implement the system for performance evaluation.  It was recommended that University administrators need to communicate the BSC process, outcomes, and application with greater clarity to all employees both academic and non-academic staff and that the Nigeria University Commission (NUC) as the major regulatory bodies and others should encourage private universities to implement the BSC for performance evaluation of both the students (customer perspective) and staff (internal process perspective

Keywords: Balanced scorecard (BSC), Financial performance, Performance; Perspective; Private Universities

DOI: 10.7176/RJFA/10-8-02

Publication date: April 30^th 2019