Khalida Aydin Hamidova

APPROACHES TO STRATEGIC PLANNING IN HIGHER EDUCATION: A METHODOLOGICAL MODEL BASED ON HUMAN CAPITAL THEORY, REGULATORY FRAMEWORK AND MODIFIED BALANCED SCORECARD (BSC) (AZERBAIJANI CONTEXT)

Abstract. Over the past 10-15 years, socio-economic modernization, global integration, and sustainable development goals in Azerbaijan have necessitated the transformation of governance and financing mechanisms in the education system. The State Strategy for the Development of Education in the Republic of Azerbaijan defines the renewal of education in the area of ​​quality, human resources, management, and result-oriented approach as a strategic priority (President of the Republic of Azerbaijan, 2013). The aim of the article is to propose a methodological approach to the formation of a strategic management system in higher (and higher professional) education institutions. This study is based on a synthesis of human capital theory (which considers education as an investment), the normative-organizational model of the university (NORM), and a modified Balanced Scorecard (BSC) approach, taking into account the non-profit nature of the educational sector. The potential of the BSC in reducing the strategy to the level of its implementation, forming a system of measurable indicators, and building monitoring mechanisms is emphasized (Kaplan & Norton, 1996; ESG, 2015). As a result, the creation of a "university mission-strategic directions-indicators" chain, stakeholder alignment, and the formalization of cause-and-effect relationships strengthen the scientific and methodological basis for strategic planning in higher education.

Keywords: strategic planning, higher education, human capital, NORM model, BSC, indicators, monitoring, quality assurance