Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
Maintaining the literacy rate of a nation is an important task performed by educational institutes housed in the land. This is because the economic development of a given country has 'intellect level' as a significant factor for it. Another benefit that stems from the high level of academia being given to study-pursuers is the pace at which R&D (Research and Development) progresses in the country. Being ahead in this sector can make all the difference between a 'developed and prospering' nation and 'undeveloped and struggling' country.
In the light of the responsible task shouldered by institutes, it gets obvious that a tracking tool be used in the way. The analytical and logical power exhibited by the residents depends on quality of education offered by institutes. This makes for a compelling cause to monitor the standard of studies being granted by these to students. Balanced Scorecard fits the bill in this regard as it makes possible the collection and presentation of 'measurable pieces' in the form of KPIs (Key Performance Indicators). One can follow the progress being achieved in aims by calculating and assigning values to these indicators. In case distraction from the 'supposed-to-be-values' occur, correction can be done suitably.
This is the actual scorecard with Education Indicators and performance indicators. The performance indicators include: education metrics, financial perspective, cost per student, development of faculty and staff, instruction, admission, student acceptance, targeted student groups, graduated student ratio, performance, employment rates, graduate school admission rates, employer evaluation, student perspective, curriculum, instruction, preparation for career, institution rank, national accreditation, external evaluation, market share.