Universities -- such as Ohio State University, Germanna Community College and Northwest Missouri State -- have adopted principles of the balanced scorecard. The idea of a strategic plan to reach core mission-statement principles appeals to colleges and universities. With tight budgets and high expenses, institutions of higher learning are increasingly asked for accountability and performance results to show alumni, states, stakeholders and donors they are reaching their goals. The balanced scorecard -- which can include information such as retention rate, transfer rate, financial-aid awards, and racial and ethnic diversity -- helps colleges create quantifiable and reportable goals, according to "The Balanced Scorecard: Beyond Reports and Rankings" by Alice C. Stewart and Julie Carpenter-Hubin.
Colleges using the balanced-scorecard approach list specific objectives they wish to reach, such as improving the student learning progress and satisfaction; how they will measure those objectives, such as retention and graduation rates and Higher Education Research Institute student survey data; targets to reach, such as increasing the retention rate by 5 percent; and initiatives for reaching targets, according to Stewart and Carpenter-Hubin.
These objectives affect admissions decisions because universities are trying to meet goals in areas such as diversity and graduation rates. For example, a person from a minority ethnic group may have a greater chance of admission. So applicants who will help a school meet their balanced-scorecard objectives will have a better chance of admission to a particular university, according to SunGard Higher Education Enrollment Management Consulting Practice.