A Balanced Scorecard With Strategy Map

The purpose of this article is to use strategy mapping (SM) and balanced scorecard (BSC) in portraying and assessing green entrepreneurial supply chain management (GESCM) performance of a vertically integrated entrepreneurial supply chain in an Egyptian emerging market of organic beverages industry. Based on thematic literature review and qualitative research (in-depth interviews with experts, focus groups, observations, and reports’ analysis), multi-item measurement quantitative BSC scale and strategy map were proposed to measure and communicate the GESCM performance of a hierarchical chain with multiple nodes and cross-functional green practices. This article conceptually contributes to the active debate on contemporary GESCM performance measurement. It integrates the literature of green production and operations management, strategic management and entrepreneurial supply chain management (ESCM) to investigate the unexplored context of GESCM research. It empirically assesses GESCM performance of an attractive network using BSC and maps its strategy with its multidisciplinary environment-friendly practices. The GESCM performance was measured in terms of four integrated perspectives (innovative and proactive processes, learning and growth, financial gains and supply chain stakeholders’ delight). Results showed that BSC and SM are effective and efficient tools in managing the performance of a successful GESC in an emerging market. Royal Herbs’ BSC key performance indicators (KPIs), which were used in assessing a GESCM strategy, indicate improvements along the BSC’s four perspectives. Results give green entrepreneurs/manufacturers in an emerging market as Egypt a comprehensive view on how they can effectively assess/improve their GESCM performance. It draws attention to the importance of investing in GESCM practices for maintaining sustainable development in a clean business environment. It helps practitioners, academics and policymakers in Egypt to bridge the gap between theory and practice regarding GESCM performance. From an interdisciplinary perspective, it provides insights on improving the ESCM performance of the industry without harming its natural environment.

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Developing a strategy map for environmental consulting firms

International Journal of Productivity and Performance Management ◽

10.1108/ijppm-06-2017-0139 ◽

2018 ◽

Vol 67 (5) ◽

pp. 916-934 ◽

Cited By ~ 2

Author(s):

Naqi Sayed ◽

Camillo Lento

Keyword(s):

Balanced Scorecard ◽

Customer Value ◽

Secondary Data ◽

Causal Link ◽

Active Management ◽

Content Type ◽

Consulting Firms ◽

Strategy Map ◽

Environmental Consulting ◽

Structured Approach

Purpose The purpose of this paper is to identify key performance indicators (KPIs) for environmental consulting firms, explore their causal linkages and develop a strategy map around the balanced scorecard (BSC) perspectives. Design/methodology/approach Relevant KPIs are identified through interviews and secondary data. Causal relationships between KPIs are explored by using the decision-making trial and evaluation laboratory (DEMATEL) method to analyze survey responses from senior partners and industry experts. Findings The results suggest that the learning and growth perspective plays a pivotal role for consulting firms. In addition, and contrary to views held by some, internal process perspective can play a significant cause factor role for service businesses. Among the KPIs which were identified as important, acquiring new skills/techniques, increased customer value proposition, personnel utilization, new product solutions and start to end solutions as KPIs exhibited both cause and effect characteristics. Practical implications The results isolate core KPIs which self-reinforce, complement each other and form a feedback loop. Active management and monitoring of these KPIs is likely to result aid a consulting firm in achieving strategic objectives. The strategy map developed in this study can also serve as a reference point for similar businesses. Originality/value This is the first known study to develop a strategy map for a consulting business by adopting a structured approach and identify causal link among BSC perspectives and their respective KPIs. The study provides further empirical evidence for usefulness of a structured approach such as the DEMATEL.

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THE STRATEGY MAP AND ITS BALANCED SCORECARD

EDPACS ◽

10.1080/07366981.2020.1750799 ◽

2020 ◽

Vol 61 (3) ◽

pp. 1-16

Author(s):

Gary Cokins

Keyword(s):

Balanced Scorecard ◽

Strategy Map

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Developing a strategy map for forensic accounting with fraud risk management: An integrated balanced scorecard-based decision model

Evaluation and Program Planning ◽

10.1016/j.evalprogplan.2020.101780 ◽

2020 ◽

Vol 80 ◽

pp. 101780 ◽

Cited By ~ 1

Author(s):

Chih-Hao Yang ◽

Kuen-Chang Lee

Keyword(s):

Risk Management ◽

Balanced Scorecard ◽

Decision Model ◽

Fraud Risk ◽

Forensic Accounting ◽

Strategy Map ◽

Fraud Risk Management

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Strategy maps: the essential link between the balanced scorecard and action

Journal of Business Strategy ◽

10.1108/jbs-10-2013-0101 ◽

2015 ◽

Vol 36 (2) ◽

pp. 34-40 ◽

Cited By ~ 19

Author(s):

Rainer Lueg

Keyword(s):

Balanced Scorecard ◽

Strategy Execution ◽

Content Type ◽

Strategy Maps ◽

The Balanced Scorecard ◽

Top Managers ◽

Action Strategy ◽

Recent Developments ◽

Balanced Scorecards ◽

Strategy Map

Purpose – The purpose of this paper is to show how the use of Strategy Maps substantially improves the implementation success of balanced scorecards (BSC). The BSC is supposed to translate strategy into action. Strategy maps support this by showing cause-and-effect chains. But what does this mean for strategy execution in practice? To achieve better BSC implementations, the author uncovers pitfalls and names the remedies. Design/methodology/approach – The author summarizes the most important findings from initially over 1,000 studies that have dealt with the BSC from 1992 to 2012. Findings – BSC implementations that use a sophisticated Strategy Map appear to be successful. Strategy maps foster a better understanding of the BSC among employees, create greater commitment and less resistance and are superior to the BSC itself in communicating how to achieve strategic goals. Also, strategy maps facilitate managers’ evaluation of the relevant environment. Nevertheless, the common measure bias is a usual pitfall: top managers have a tendency to use their own strategic targets as a yardstick for lower-level employees. Originality/value – This paper helps managers understand the most recent developments on strategy maps. In particular, the author highlights that causalities do not exist in organizations in the same way as there are “laws” in physics. Instead, organizations need to customize their BSC to their way of doing business.

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Constructing a strategy map for banking institutions with key performance indicators of the balanced scorecard

Evaluation and Program Planning ◽

10.1016/j.evalprogplan.2011.11.009 ◽

2012 ◽

Vol 35 (3) ◽

pp. 303-320 ◽

Cited By ~ 83

Author(s):

Hung-Yi Wu

Keyword(s):

Balanced Scorecard ◽

Performance Indicators ◽

Key Performance Indicators ◽

The Balanced Scorecard ◽

Banking Institutions ◽

Strategy Map

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The alignment of managers’ mental models with the balanced scorecard strategy map

Total Quality Management & Business Excellence ◽

10.1080/14783363.2012.669546 ◽

2012 ◽

Vol 23 (5-6) ◽

pp. 613-628 ◽

Cited By ~ 14

Author(s):

José Manuel Hurtado González ◽

Miguel Ángel Calderón ◽

José Luis Galán González

Keyword(s):

Mental Models ◽

Balanced Scorecard ◽

The Balanced Scorecard ◽

Strategy Map

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Improving the Industrial System Performance by Using the Balanced Scorecard Instrument

Applied Mechanics and Materials ◽

10.4028/www.scientific.net/amm.808.370 ◽

2015 ◽

Vol 808 ◽

pp. 370-375

Author(s):

Flavia Fechete ◽

Anișor Nedelcu

Keyword(s):

Balanced Scorecard ◽

Business Processes ◽

Industrial System ◽

Financial Indicators ◽

The Balanced Scorecard ◽

Critical Areas ◽

Future Success ◽

Comprehensive Picture ◽

Strategy Map ◽

The Impact

Nowadays, managers recognize the impact that measures have in performance. The balanced scorecard is a new tool that complements traditional measures of business unit performance. The scorecard contains a diverse set of performance measures, including financial performance, customer relations, internal business processes, and learning and growth.The Balanced Scorecard provides leaders with a process to describe strategy – both what the organization wants to accomplish and how it intends to realize its strategic outcomes. Taking all the objectives and measures together into a strategy map of cause-and-effect relationship across the four perspectives provides a comprehensive picture of the organization’s value creating activities.The analysis developed in this paper aims is to examine the critical areas of an industrial system as product, process, customer and market perspective. The study will provide managers four different perspective from which to choose measures: from traditional financial indicators, to measures for improving customer satisfaction, internal processes and innovation and improvement activities, focusing on the company’s current and future success.

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Strategy map concepts in a balanced scorecard cockpit improve performance

European Journal of Operational Research ◽

10.1016/j.ejor.2016.09.026 ◽

2017 ◽

Vol 258 (2) ◽

pp. 664-676 ◽

Cited By ~ 14

Author(s):

Bo Hu ◽

Ulrike Leopold-Wildburger ◽

Jürgen Strohhecker

Keyword(s):

Balanced Scorecard ◽

Improve Performance ◽

Strategy Map

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Strategy Map dan Rancangan Balanced Scorecard PT. DPI

BISMA (Bisnis dan Manajemen) ◽

10.26740/bisma.v7n2.p117-124 ◽

2018 ◽

Vol 7 (2) ◽

pp. 117

Author(s):

A Fakhri Arifyanto

Keyword(s):

Balanced Scorecard ◽

Customer Relationship ◽

Strategy Development ◽

Strategic Objectives ◽

The Balanced Scorecard ◽

Strategic Issues ◽

Strategic Objective ◽

Financial Perspective ◽

Strategy Map ◽

Process Perspective

This research aims to compile and designing Strategy Map and Balanced Scorecard on PT. DPI in order to achieve the objective of becoming an international organization or world class company. According to David P. Norton which had been quoted by Mathews (2007), Balanced Scorecard is precise methodologies to develop measurement which is capable to describe the organization’s strategy. Development of Strategy Map is the key to design effective Balanced Scorecard. The analysis result stated that the Strategy Map of PT. DPI could be compiled by virtue of the strategic issues in the corporate level, meanwhile for the Balanced Scorecard design consists of four perspectives in which financial perspective to improve the ROI of strategic objective by increasing revenue from existing product and new product. Customer perspective, with the strategic objective of customer satisfaction, increased market share by retaining existing customers and add new customers. Internal Business Process Perspective, with a strategic objective of developing superior products, innovative and sophisticated, improved customer relationship management. Learning and Growth Perspective, with strategic objectives to improve the quality, professionalism of human resources DPI, to develop a conducive climate in DPI (improve DPI climate).

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