Strategic Management and Business School

Topics: Balanced scorecard, Strategic management, Management Pages: 4 (962 words) Published: July 17, 2010
Izmir National University

What do the comments by the faculty tell you about INU's strategy? There is no strategy, no concise vision, or supporting mission statement. Therefore, there is no strategic architecture in place and the business school lacks sufficient human, information, or organization capital (Kaplan and Norton, 2004) to address the faculty's concerns and issues. This applies not only to the business school but to the university as a whole. Without these three components, the business school will most certainly not attract, retain, reward and lead academic talent (faculty, students and administrators) and become a "world-class" business school. Moreover, the business school does not have a clear understanding of their basic core competencies let alone what kind of business school they would like to be in the future. However, as mentioned, the issues with the business school are only symptoms of a bigger problem, which is the university also not having an overarching vision, supporting mission statement, or strategy. From top to bottom there is no clear direction, which is not a prescription for running a successful university, let alone a business school. What would you recommend the Dekan do regarding the Business School's strategic planning process? What role would you recommend the Dekan play in this process? My recommendation is to implement the Balanced Scorecard (BSC) framework created by Robert S. Kaplan and David P. Norton in 1992 (Kaplan and Norton, 2004). The BSC is a strategic planning and management system to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals ("What is the,"). It also suggests that management (university leaders) view the organization from four perspectives: financial, customer, internal, learning and growth. However, the best way to implement this framework is to apply it at the...

References: Kaplan, Robert, & Norton, David. (2004). Strategy maps. Harvard Business Press.
Martin, R. (2010, July/August). Drawing a line between strategy and execution almost guarantees failure. Harvard Business Review, 64-71.
Meredith, Jack, & Shafer, Scott. (2009). Operations management for mbas. Wiley.
Pineno, C. (n.d.). The Business school strategy: continuous improvement by implementing the balanced scorecard . Retrieved from http://www.aabri.com/manuscripts/08016.pdf
What is the balanced scorecard. (n.d.). Retrieved from http://www.balancedscorecard.org/bscresources/aboutthebalancedscorecard/tabid/55/default.aspx
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