The Nairobi Metropolitan College (NMC) and the Millennium College of Business (MCB) are government funded institutions which are managed by the Ministry of Higher Education. The following information is available for the year ended 31st May 2010. 3 NMC MCB MCB (Actual) (Budget) (Actual) Total registered students 25,000 26,500 30,000 Number of students waiting for 2 weeks for admission after applying 4,500 4,100 3,000 Number of students waiting for 3 weeks for admission after applying 2,100 2,500 1,200 Number of days after opening date before lectures start 3 1 1 % of lectures that materialize within the first week of a semester 60% 100% 90% Duration for processing exams and release of results (in weeks) 4 4 5 % of lecturers with PhD 40% 100% 70% Number of staff training programmes undertaken in the year 2 4 2 The degree of utilization of e-learning platform among lecturers 60% 100% 80% Number of papers published by the teaching staff the year 15 40 22 Number of complaints received from students 203 0 56 Number of complaints responded to within 5 days 50 All 40 Customer satisfaction index 70% 99% 93% Number of staff shortages 8 5 7 Staff productivity measure (% of students graduating per cohort) 84% 100% 92% Revenue from fees (ksh. millions) 154.2 255.2 260.2 Lecturing staff costs (ksh. Millions) 42.3 82.2 99.6 Other staff costs (ksh. Millions) 25.5 45.5 54.0 Income and expenditure surplus margin (13%) 0.0 24% Number of days cash in hand 37 30 35 4 Additional information: 1) Both institutions were in operation for 365 days during the year 2) The Ministry of Higher Education uses a balanced scorecard approach in order to assess the performance of each institution. Their balanced score card has 4 dimensions which are as follows: i. Financial perspective ii. Internal business processes iii. Customer perspective iv. Learning and growth Required: Prepare a report to the Ministry of Higher Education which critically assesses, on the basis of the above information, the performance of Millennium College of Business (MCB) which is currently under review. You should use the four dimensions to perform your assessment as per note (2) above.