Balance Score Card

Creating An Excel-Based Balanced Scorecard To Measure the Performance of Colleges of Agriculture

Paper Presented For American Agricultural Economics Association (AAEA) Annual Meeting July 23-26, 2006 Long Beach California Ward E. Nefstead Associate Professor and Extension Economist Department of Applied Economics University of Minnesota Steve A. Gillard Senior Analyst and Information Systems Architect College of Food, Agricultural and Natural Resource Sciences University of Minnesota

1 AAEA Conference in Long Beach, CA July 23 – 26, 2006

Selected Paper Creating an Excel-Based Balanced Scorecard To Measure the Performance of Colleges of Agriculture
Paper Presented At American Agricultural Economics Association Annual Meeting Long Beach, CA July 23 – 26, 2006 I. Introduction – Need for Measurement/Strategic Planning, University of Minnesota Strategic Planning Effort What are Balanced Scorecards – Kaplan and Norton, Quality Assurance and Measurement, Six Sigma Extensions Application of Balanced Scorecards to Higher Education – early efforts by the University of California, Wheaton College, Penn State University, the University of Texas El Paso, NACUBO seminars. Strategy Maps and Balanced Scorecards – drill down of strategic objectives Design A Balanced Scorecard at the College Level – first efforts Excel Software and Balanced Scorecards – examples Summary and future work to be accomplished References

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2 AAEA Conference in Long Beach, CA July 23 – 26, 2006

Introduction
This paper introduces the use of the Balanced Scorecard (BSC) approach in higher education, and specifically colleges of agriculture, for the purpose of managing strategic objectives. While originally developed by Robert Kaplan and David Norton for the private sector, the BSC has been successfully integrated into the higher education sector as well. This paper seeks to outline appropriate methods of integrating the BSC approach illustrated through...