Performance measurement tools: the Balanced Scorecard and the EFQM Excellence Model

2003 ◽  
Vol 7 (1) ◽  
pp. 14-29 ◽  
Author(s):  
S. Wongrassamee ◽  
J.E.L. Simmons ◽  
P.D. Gardiner
Keyword(s):  
Performance Measurement ◽  
Balanced Scorecard ◽  
The Balanced Scorecard ◽  
Measurement Tools

scholarly journals Revision of Performance Measurement Tools and Methods

e-Finanse ◽  
2019 ◽  
Vol 15 (2) ◽  
pp. 20-35
Author(s):  
Alladyn Elmgasbi
Keyword(s):  
Performance Measurement ◽  
Performance Management ◽  
Balanced Scorecard ◽  
Measurement Methods ◽  
Economic Environment ◽  
The Balanced Scorecard ◽  
Business Excellence ◽  
Measurement Tools ◽  
Achievement Measurement ◽  
Tools And Methods

AbstractA changing economic environment and growing requirements of stakeholders have made it necessary to develop new achievement measurement methods. The article discusses and compares several performance measurement tools and methods, such as: the Balanced Scorecard, Tableau de bord, Skandia Navigator, Intangible Assets Monitor, German Scorecard, Business Excellence Model, Dutch system of performance management, Performance Prism and the EFQM Excellence Model. They are the most popular among both theoreticians and practitioners in this field.

Performance Measurement using Balance Score Card and its Applications: A Review

2015 ◽  
Vol 4 (3) ◽  
Author(s):  
Shradha Gawankar ◽  
Sachin S. Kamble ◽  
Rakesh Raut
Keyword(s):  
Performance Measurement ◽  
Organizational Performance ◽  
Performance Management ◽  
Balanced Scorecard ◽  
Strategic Change ◽  
The Balanced Scorecard ◽  
Balance Score Card ◽  
Measurement Framework ◽  
Score Card ◽  
And Performance

This paper aims to propose the idea of briefly explaining the balance scorecard by highlighting its use, application in depth. A critical enabler in achieving desired performance goals is the ability to measure performance. Despite the importance of accurately measuring organizational performance in most areas of academic research, there have been very few studies that have directly addressed the question of how overall organizational performance is or should be measured. Perhaps more importantly, none of these studies seems to have significantly influenced how overall organizational performance is actually measured in most of the empirical research that uses this construct as a dependent measure. The most popular of the performance measurement framework has been the balanced scorecard abbreviated as BSC. The BSC is widely acknowledged to have moved beyond the original ideology. It has now become a strategic change management and performance management process. The approach used in this paper is the combination of literature review on evolution of balance score card and its applications in various sectors/organizations/ areas. This paper identify that the balanced scorecard is a powerful but simple strategic tool and the simplicity of the scorecard is in its design. By encompassing four primary perspectives, the tool allows an organization to turn its attention to external concerns, such as the financial outcomes and its customers expectations, and internal areas, which include its internal processes to meet external requirements and its integration of learning and growth, to successfully meet its strategic expectations. This paper provides a comprehensive overview of the balanced scorecard combined with application and strategy, which are now in a better position to begin to recognize managements expectations and to discover new ways to build value for workplace learning and performance within organization.

The Balanced Scorecard

2017 ◽  
Vol 5 (2) ◽  
pp. 1-15
Author(s):  
Jorge Gomes ◽  
Mário Romão
Keyword(s):  
Organizational Performance ◽  
Balanced Scorecard ◽  
New Developments ◽  
Organizational Skills ◽  
The Balanced Scorecard ◽  
Customer Preferences ◽  
Innovation Activities ◽  
Measurement Tools ◽  
Physical Assets ◽  
And Performance

Organizations are challenged to develop new organizational skills such as flexibility or expertise in order to quickly respond to changes in technology, competition and customer preferences. Companies cannot be competitive or successful if their business and information systems and technology (IS/IT) strategies are not strategic aligned. Nowadays, the importance of intangible assets is higher than traditional physical assets and performance measurement tools need to capture this new reality. Measuring organizational performance is a continuous challenge for both managers and researchers. Balanced scorecard (BSC) is a powerful tool that gives to managers a fast, but comprehensive view of the business including operational measures on customer satisfaction, organization's innovation, activities improvement, as well as financial measurements. In this paper the authors address the BSC and promote the discussion about the strengths and the limitations and pointing out new developments to overcome the today´s business trends.

scholarly journals Design of Batik Crafts Industrial Performance Measurement Model in Wukirsari Region Bantul

2018 ◽  
Vol 4 ◽  
Author(s):  
Yasrin Zabidi
Keyword(s):  
Performance Measurement ◽  
Balanced Scorecard ◽  
Performance Indicators ◽  
Performance Indicator ◽  
Problem Formulation ◽  
Measurement Model ◽  
Measurement Instruments ◽  
The Balanced Scorecard ◽  
Craft Industry ◽  
Initial Research

One important factor in influencing the progress and decline of an industry is the performance factor. Performance issues are not only important for middle-to-upper-level companies and large companies, but also important for small and medium industries such as the batik craft industry in the Wukirsari region, Bantul. Given the importance of performance, researchers tried to design a performance measurement model of the batik craft industry in the Wukirsari region, Bantul with the aim of identifying performance criteria, determining performance indicators, formulating performance indicators, and making performance measurement instruments. The steps in this study are divided into four phases, namely the initial research phase and problem formulation, the design phase, the analysis phase and the conclusion phase. The initial research phase and problem formulation include, the profile of the batik craft industry in the Wukirsari region, Bantul, the current performance evaluation system, problem formulation and research objectives. The design phase includes the design process of the performance measurement model with the Balanced Scorecard method which includes setting strategic objectives, establishing performance indicators (key performance indicators), determining performance indicator formulas, making performance measurement instruments. Analysis phase includes KPI analysis and strategy map analysis. Conclusion phase includes conclusions from the results of research and suggestions for the batik craft industry in Wukirsari, Bantul. From the results of the study obtained four performance perspectives based on the balanced scorecard, namely financial, customer, internal business processes, learning and growth. five, namely: increased sales growth, high customer satisfaction, improved system and better work processes, the creation of a good work climate, and increased employee productivity.There are seven performance indicators formed, namely: the rate of sales growth, the level of customer satisfaction, level of compliance with customer complaints, percentage of defective products, number of new products, level of job satisfaction, and employee productivity. The establishment of a performance measurement worksheet, so that the performance values of each performance indicator and total performance can be known in a certain period.Keywords: Performance, Measurement, Batik

scholarly journals Rancangan sistem pengukuran kinerja untuk penentuan key performance indicator dengan metode Balance scorecard

2020 ◽  
Vol 12 (2) ◽  
pp. 248
Author(s):  
Lucky Setiawan ◽  
Yuliani Fauziah
Keyword(s):  
Performance Measurement ◽  
Balanced Scorecard ◽  
Evaluation Method ◽  
Corporate Strategy ◽  
Performance Indicator ◽  
Production Costs ◽  
Success Factor ◽  
Key Performance Indicator ◽  
Labor Costs ◽  
The Balanced Scorecard

This research adopts the Vision and Mission of a textile company headquartered in Tangerang. This company produces producing polo shirts, golf shirts, track suits, sweat shirts, and pants using materials such as single jersey, pique, lace in cotton, polyester, and others. The company's vision and mission can represent other textile companies that have the same processes and products. The characteristics of textile companies that have processes with human skill factors become critical points that are difficult to replace with robot technology. This has an impact on the needs of a large number of human resources in the industry. The increase in labor costs which always increases every year has a very significant impact on production costs. Thus, expansion is one of the critical factors to be used as a top management strategy in determining the current KPI items. The Balanced Scorecard is a performance evaluation method that can meet these expectations. The design of company performance measurement in this study begins with the translation of the company's vision and mission, secondly, making a proposed corporate strategy using the PQCDSME approach (profit, quality, Cost, Delivery, Service, Moral, Environment). Third, calcify the company's strategy into the perspective of the balanced scorecard. Fourth, the decision making process to determine KPI items using the brainstorming method. Fifth, determining the critical success factor and key performance indicator. Other factors are also compared between the achievement of the previous year as an illustration of determining a target. So the target given will be in accordance with the SMART rules (speciefic, measurable, achievable, realistic and timely). The results are obtained with 4 criteria (financial, consumer, internal business processes, learning and growth). This performance measurement produced 19 key performance indicators, consisting of 6 financial perspective indicators, 1 customer perspective indicator, 7 internal business process perspective indicators, and 5 growth and learning perspective indicators.

Supply Chain Performance Measurement and Organizational Alignment in the Digital World

2019 ◽  
pp. 128-154
Author(s):  
Ehap Sabri ◽  
Rohan Vishwasrao
Keyword(s):  
Supply Chain ◽  
Performance Measurement ◽  
Balanced Scorecard ◽  
Maturity Model ◽  
Maturity Models ◽  
Strategic Objectives ◽  
The Balanced Scorecard ◽  
Digital World ◽  
Road Map ◽  
And Performance

The authors describe how organizations can leverage the maturity model approach in conjunction with foundational concepts of perspective-based performance evaluation models like the balanced scorecard (BSC) to define a comprehensive performance measurement framework. A maturity model by design provides a road-map to the next level of performance. In this chapter, the authors propose using maturity models as a structured way of identifying current capability or maturity level of any supply chain. The authors provide guidance on selecting the right “causal linkages” between supply chain objectives and performance measures. They then define a mechanism for specifying even more granular definitions of measures linked to strategic objectives, as the level of maturity progresses. In this chapter, the authors survey widely used supply chain/business process maturity models and current practices related to measuring operational metric. And then present a tiered framework for operational metric alignment and KPI governance based on perspective-based modeling design principles.

Measuring and Managing E-Business Initiatives through the Balanced Scorecard

2011 ◽  
pp. 152-168 ◽  
Author(s):  
Wim Van Grembergen ◽  
Isabelle Amelinckx
Keyword(s):  
Information Technology ◽  
Performance Measurement ◽  
Measurement System ◽  
Balanced Scorecard ◽  
Performance Measurement System ◽  
Financial Measures ◽  
The Balanced Scorecard ◽  
Business Perspective ◽  
Customer Perspective ◽  
A Performance

The Balanced Scorecard (BSC) initially developed by Kaplan and Norton is a performance measurement system that supplements traditional financial measures with the criteria that measure performance from three additional perspectives: customer perspective, internal business perspective, and innovation and learning perspective. In recent years, the Balanced Scorecard has been applied to information technology in order to ensure that IT is fairly evaluated. The proposed methodology can also be applied to e-business initiatives. In this chapter, it is illustrated how the BSC can be used to measure and manage e-business initiatives. A generic e-business Balanced Scorecard is proposed and its development and implementation is discussed.

The Fifth Perspective

2010 ◽  
pp. 2378-2388
Author(s):  
Preeti Goyal ◽  
Bhimaraya A. Metri
Keyword(s):  
Performance Measurement ◽  
Performance Measures ◽  
Balanced Scorecard ◽  
Business Process Outsourcing ◽  
Organizational Boundaries ◽  
Strategic Objectives ◽  
The Balanced Scorecard ◽  
Measurement Framework ◽  
External Relationships ◽  
New Perspective

Today, alliances, collaborations, and networks are synonymous with strategy. Business process outsourcing (BPO) is one such type of alliance. With increasing reliance on outsourcing, the organizational boundaries are blurring. The implications for the client organization can be tremendous, as it now relies on an outside organization to fulfill its operational objectives. Currently, there is no single framework that can effectively measure performance for BPO arrangements. In its present form, the balanced scorecard (BSC) only addresses the performance measurement needs of a single enterprise and any perspective on any external relationships is completely missing. The traditional BSC does not suffice as a performance measurement framework for BPO. While both the client and the vendor can use a BSC for their respective organizations, the strategic objectives of the organizations may not be met. In this article the authors propose a new perspective as an extension to the BSC, namely, the goals alignment perspective. Goals alignment of the two organizations will enable creation of performance measures that will help participating organizations to achieve their respective goals.

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