Strategic Development of Thai Higher Education Institutions (HEIs) with the Sustainability Balanced Scorecard

Abstract

The process of developing a strategic plan for Thai higher education institutions (HEIs) often uses the SWOT Analysis tool to analyze the environment, followed by the TOWS Matrix in the analysis to develop a strategy with strategic issues according to the Higher Education Standards 2018, which include five standards: 1) learner outcome 2) research and Innovation 3) academic service 4) arts and culture, as well as being Thai and 5) management However, the Ministry of Higher Education, Science, Research and Innovation has released a new standard, titled Higher Education Management Standards 2022, which includes specifics on the standards for the implementation of quality HEIs in order to achieve success in line with the stated vision and report on important results. This is in accordance with the Education Criteria for Performance Excellence (EdPEx) guidelines 2020-2023, as well as Thai HEIs aiming for sustainable outcomes with an assessment system based on development guidelines that as a result of the sustainability of THE Impact Ranking for all 17 SDGs. Therefore, Thai HEIs should consider adopting the concept of the Sustainability Balanced Scorecard (SBSC) combines the Balanced Scorecard (BSC) concept developed by Kaplan & Norton in 1996 with the Triple Bottom Line (TBL) concept developed by John Ellington in 1997 to ensure that HEIs have a stable financial position through the Office of Sustainability Management (OSM), and it was used to manage a sustainability direction in HEIs covering four perspectives: 1) Sustainability 2) Stakeholders 3) Internal Processes and 4) Learning and Development.