Toward a vocational balanced scorecard: a grounded model based on multiple case studies of registered training organizations in Australia
thesisposted on 28.03.2022, 16:39 authored by Zahurul Quazi
The Balanced Scorecard (BSC) is a widely used management tool to map organizational goals towards execution of strategies in line with the organization's vision. Prior research has either used the concept to develop goals or key performance indicators (KPIs) for different divisions, such as marketing and HR, or focused on the varying levels of successful adoption of BSC in ad hoc case studies. But little has been done to explore if BSC can be applied to a key economic sector where different organizations of fer unique services. While BSC has been investigated across industries, from hospitality to education, there are no studies on the application of BSC at vocational training institutions. The objective of this thesis is to explore the application of BSC for strategic performance in registered training organizations (RTOs), which are the equivalent of vocational training institutions (VTIs) in Australia. Using a sample of 15 RTOs and 30 in - depth interviews with managers, a grounded model for the application of BSC at VTIs called the vocational balanced scorecard (VBSC) was developed. The findings indicate that, as the primary strategic goal of RTOs is to offer higher education courses compatible with universities, the VBSC can significantly help achieve this goal. The VBSC helps set key objectives across course development, staff training, financial management, students' compliancy and support as well as with the process of continuous improvement and quality control. The model developed shows how the selected areas map, according to BSC, and enables RTO managers to adjust and communicate their strategy and rectify procedural deficiencies in their operations.