Thinking towards stakeholder satisfaction in higher education: an application of performance prism

Abstract

Quality of service and customer satisfaction is key concerned area in the today’s business. When considering education, quality of educational service and stakeholder satisfaction can be taken as more important. Most of the performance management systems are fails to address and consider the entire stakeholder needs after considering the importance and contributions of all stakeholders to the organization. The Performance Prism Model can be used as one of performance management and measurement tool which is closely looking at measurement from a stakeholder perspective. Performance prism model is taking consideration of two ways process as first identify the what are the want and needs of stakeholders and second to identify what are the organizations wants and need from its stakeholders. The purpose of the study is to review the performance prism model and to identify the possibility of application of this model into higher educational institutions. Finally presents the interrelation between stakeholder need, organizational capabilities, existing process, strategies and stakeholders’ role. The study concluded that use of performance prism model can be highly benefited in an academic institution and the process should start from identifying stakeholder needs, and then formulate strategies using existing capabilities and process and finally deliver better value with the support of all stakeholders in the system.