Strategies for the cooperation of educational institutions and companies in mechanical engineering

Purpose The purpose of this study is to analyse the strategic planning of the Centre for Mechanical Engineering, which is a joint venture of educational institutions and companies in Southwest Finland. Design/methodology/approach The paper presents the strategies of focus and cost efficiency and how the selected strategies can be adjusted according to the Centre's place in its life cycle. The initial phase of the Centre emphasises the importance of a growth strategy. Findings The strategies are described using the balanced scorecard approach, which allows organisations to articulate and communicate their strategies to their employees and stakeholders. Originality/value This study contributes to the knowledge and practice of implementing strategies in higher education. An example is presented of how strategy can be described using a strategy map.