The integration of the third generation balanced scorecard with a student loyalty model to enhance financial performance in higher education

We have developed a set of appropriate performance evaluation measurements for the private higher education (PHE) sector, based mainly on the integration between the third generation balanced scorecard (third GBSC) and a students' loyalty model (SLM). We describe the process of the development of customers' (students') loyalty, taking into consideration the improvement of the quality of the education process by increasing students' satisfaction, loyalty and financial performance respectively, by improving key performance indicators (KPIs) of the third GBSC. Furthermore, we pursue a case study methodology of the application of the third GBSC integrated with a SLM at Egypt's Canadian International College (CIC). We also investigate students' satisfaction of the CIC's Faculty of Engineering. We find that the application of the suggested model has a significant association with the improvement of the CIC's KPIs related to education quality (EQ). Furthermore, the application of this integration model increases the anticipation of profitability.