scholarly journals A Conceptual Model to Explain Strategic Alignment in the Financial Services Based on Balanced Scorecard

2014 ◽  
Vol 43 ◽  
pp. 98-108 ◽  
Author(s):  
Mohammad Safari
Keyword(s):  
Balanced Scorecard ◽  
Financial Services ◽  
Strategic Alignment ◽  
Theoretical Research ◽  
Management Tool ◽  
Group Method ◽  
Research Model ◽  
Validity And Reliability ◽  
The Balanced Scorecard ◽  
Focus Group Method

The lack of alignment of organization elements towards the organizational strategy leads to poor execution. When the different departments of the organization have different strategies that are different directions and implementations, the whole organizational purposes and visions rarely could archive. The main purpose of this research is to present a valuable approach for success organizations that we named strategic alignment. For this purpose we use the Balanced Scorecard (BSC). The Balanced Scorecard is a management tool used to translate the corporate strategic mission and vision into a set of quantifiable indicators of performance. In other words, it is intended to explain what to do and how to do it. The real contribution of a Balanced Scorecard program is to link the objectives in each of four perspectives: financial, processes, customers, and growth and learning. In this study using a valid questionnaire and also with focus group method the final theoretical research model was presented. Results of this research showed that BSC is a useful tool and has high validity and reliability for strategic alignment for financial organizations. The results are applicable for both academicians and practitioners for managing strategies and related programs and tactics in the financial institutions and organizations.

Leveraging the IT Balanced Scorecard as Alignment Instrument

2008 ◽  
pp. 101-124
Author(s):  
Wim van Grembergen ◽  
Steven De Haes
Keyword(s):  
Balanced Scorecard ◽  
Strategic Alignment ◽  
Management Tool ◽  
Business Objectives ◽  
The Balanced Scorecard

In Chapter I, the IT balanced scorecard was introduced as a possible measurement and management tool to support the achievement of strategic alignment. In this chapter, the application of the balanced scorecard is illustrated in more detail through a case study of a major Canadian financial group, where the balanced scorecard was adopted in its full scope. This chapter is based on the publication “Linking the IT balanced scorecard to the business objectives at a major Canadian Financial Group” (Van Grembergen, Saull, & De Haes, 2003).

Balanced Scorecard in the strategic planning of a construction company

2018 ◽  
Vol 1 (1) ◽  
pp. 1
Author(s):  
Roberth Frias ◽  
Maria Medina
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Balanced Scorecard ◽  
Organization Theory ◽  
Management Control ◽  
Management Tool ◽  
The Balanced Scorecard ◽  
Construction Company ◽  
Construction Companies ◽  
The Impact

This research focused on the strategic management tool Balanced Scorecard and strategic planning, as a guide to guide the management of companies, allowing communication and the functionality of the strategy using KPIs that allow to identify, maintain control and increase efficiency and the achievement of optimal results. For the deductive hypothetical analysis, the specific factors that affect business management performance were grouped into two variables: Balanced Scorecard and Strategic Planning. The objective of the work was to demonstrate the impact of the Balanced Scorecard in the strategic planning of a construction company. In order to support the research, the following theories were approached: the Financial Theory, the Economic Theory of the Company, the Transaction Costs, the Network Theory, the Organization Theory, the Dependence on Resources, the Strategic Management Theory and the Business Diagnosis Theory. The result obtained confirms the hypothesis that there is a significant incidence of the Balanced Scorecard in the strategic planning of construction companies. In conclusion, the construction company has obtained significant improvements in the results in each of the indicators evaluated with the implementation of the Balanced Scorecard, demonstrating improvements in their management results, affirming that there is better performance and management control allowing them to achieve the organizational objectives set.

scholarly journals IMPLANTAÇÃO DO BALANCED SCORECARD EM UMA INDÚSTRIA DE CERÂMICA VERMELHA

2018 ◽  
Vol 7 (2) ◽  
pp. 72
Author(s):  
Célio Gomes de Lima Júnior ◽  
Julianne das Chagas Gomes ◽  
José Guilherme Said Pierre Carneiro ◽  
José Sarto Freire Castelo
Keyword(s):  
Strategic Management ◽  
Balanced Scorecard ◽  
Management Tool ◽  
Management Model ◽  
Managerial Control ◽  
Management Tools ◽  
The Balanced Scorecard ◽  
The Creation ◽  
Ceramics Industry ◽  
Red Ceramics

A implantação de ferramentas de gestão, como o Balanced Scorecard (BSC), envolve mudanças no controle gerencial de uma empresa em diversos aspectos, pois enfatiza a comunicação de estratégias e a criação de uma nova metodologia para o controle de desempenho. O objetivo deste estudo é realizar uma análise crítica sobre a aplicação do Balanced Scorecard em uma indústria de cerâmica vermelha, a partir da construção e da implementação dessa ferramenta de gestão em uma cerâmica localizada no município de Russas, Ceará. O estudo de caso revelou a necessidade de rever a gestão estratégica da empresa, em virtude da criação de mecanismos eficientes de alimentação dos indicadores pertencentes ao mapa estratégico, de modo a refletir sobre a situação da mesma, e por fim, garantiu que os gestores e funcionários estivessem alinhados com o modelo de gestão estratégica recém-implantado, a fim de que seja possível obter as vantagens propiciadas por este modelo de gestão. IMPLEMENTATION OF BALANCED SCORECARD IN A RED CERAMICS INDUSTRY ABSTRACT The implementation of management tools such as the Balanced Scorecard (BSC) involves changes in the managerial control of a company in several aspects, as it emphasizes the communication of strategies and the creation of a new methodology for performance control. The objective of this study is to perform a critical analysis on the application of the Balanced Scorecard in a red ceramics industry from the construction and the implementation of this management tool in a ceramics located in the municipality of Russas, Ceará. The case study revealed the need to review the strategic management of the company due to the creation of efficient mechanisms to feed the indicators belonging to the strategic map, in order to reflect on the situation of the company, and finally ensured that managers and employees were aligned with the newly implemented strategic management model, in order to obtain the advantages provided by this management model.

scholarly journals Methods and organization of research on the realization of sense of ownership in social practices

2021 ◽  
Vol 1 (22) ◽  
pp. 45-53
Author(s):  
Iryna Hubeladze ◽  
Keyword(s):  
Quantitative Methods ◽  
Social Practices ◽  
Research Strategy ◽  
Group Method ◽  
Research Model ◽  
Qualitative And Quantitative Methods ◽  
Sense Of Ownership ◽  
Psychological Features ◽  
Quantitative And Qualitative Methods ◽  
Focus Group Method

Introduction. Given the lack of methods for studying the sense of ownership, the article substantiates the feasibility and strategy of studying the psychological features of the realization of sense of ownership in social practices. Aim. To develop a set of methods for empirical research of psychological features of realization of person’s sense of ownership in social practices. Methods. A set of qualitative and quantitative methods, which included: associative experiment, focus group method, expert survey, interview, content analysis, mathematical and statistical analyses, as well as factor and correlation analyses to model the features of the realization of sense of ownership in social practices. Results. The set of methods proposed by the author consisted of three groups of methods, which aimed at: 1) determining the most typical social practices of ownership, in which a sense of ownership was manifested; 2) studying social ideas of Ukrainians regarding property; 3) studying the psychological features of the realization of sense of ownership in various social practices and constructing models of this realization. The author gives a logical substantiation of a step-by-step strategy of research into the realization of sense of ownership in social practices. Conclusions. The proposed research strategy and methods allow exploring a complex social and psychological phenomenon of sense of ownership and its realization in social practices. The quantitative and qualitative methods of the mixed research are effective and offer the possibility of generalization of the data by means of auxiliary strategy of triangulation. The proposed research model can be replicated and supplemented in further scientific research depending on the objectives and conditions of the study.

scholarly journals Balanced Scorecard Perspectives and Organizational Performance: Case of Kenyatta National Hospital, Kenya

2020 ◽  
Vol 2 (3) ◽  
pp. 102-113
Author(s):  
Joseph Yaa Karisa ◽  
Lawrence Wainaina
Keyword(s):  
Organizational Performance ◽  
Balanced Scorecard ◽  
Random Sampling ◽  
Target Population ◽  
Public Hospitals ◽  
Management Tool ◽  
National Hospital ◽  
The Balanced Scorecard ◽  
Kenyatta National Hospital ◽  
Financial Perspective

The balanced scorecard is a framework that organizations follow in aligning the organization strategy, communicate organization’s mission, prioritize projects, services and products as well as monitoring and measuring the advancement towards attaining the strategic objectives or targets. The overall organizational performance of Kenyatta National Hospital is still not up to standard even though it is anticipated to established high health-care standards offered to the public so that private and public hospitals can follow. Reports have revealed that cancer, heart, and kidney patients receive delayed treatment. In addition, the hospital is said to lack enough functional specialized medical equipment as well as inadequate financial support, industrial unrests, patients overcrowding, claims of medical negligence and poor service delivery. Therefore, it a major concern to the government and other stakeholders. Based on these challenges, Kenyatta National Hospital introduced a five-year strategic plan 2013 to 2018 centred on the Balanced Scorecard approach. It was within this context that the study sought to establish the influence of balanced scorecard perspectives on organizational performance of Kenyatta national hospital. The study was guided by the following specific objectives; to find out whether focus on customer perspective, financial perspective, internal business processes perspective, learning and growth perspective influence the performance of KNH Kenya. The study was also guided by Stakeholder theory, Resource based view theory and institutional theory. The study adopted a descriptive research design with quantitative techniques. The target population for the study were 80 management staff of KNH. The sample size for the study was calculated to be 67. The study used stratified random sampling procedure and simple random sampling to recruit a sample that represented the target population. Data was collected using a pre-tested structured questionnaire to capture participants insight on balanced scorecard perspectives and the overall organizational performance. Their responses on several items were scored and the scores were used in bivariate analysis and Multiple regression analysis. Descriptive statistics like measures of central tendency were used for continuous data while frequencies were used for categorical data. The data analysis was done using SPSS version 23. These results show that financial perspective and customer perspectives focus were statistically significant predictor of organizational performance at (p<0.05) while internal business process and learning and growth were not statistically significant when regressed together. An R squared of 0.593 which implied that focusing on all of the balanced scorecard perspectives contributed up to 59.3% of organizational performance. The study concludes that focus on balanced scorecard perspectives have a positive influence on organizational performance. However, there are variation on the magnitude of influence among the perspective. Therefore, the balanced scorecard can be used as a strategic management tool in public facilities and not only as a measurement tool. The study recommends that KNH should continue using the balanced scorecard and other public hospitals or institutions should also adopt it. The continuous usage and new adoption of the balanced scorecard would ensure better organizational performance.

scholarly journals Penilaian Kinerja Bank Mega Syariah Dengan Metode Balanced Scorecard Periode 2015-2019

2021 ◽  
Vol 1 (1) ◽  
pp. 66-81
Author(s):  
Wahyuni Aminatun ◽  
Parno Parno ◽  
Angrum Pratiwi
Keyword(s):  
Performance Assessment ◽  
Business Process ◽  
Balanced Scorecard ◽  
Financial Services ◽  
Annual Reports ◽  
The Balanced Scorecard ◽  
Financial Perspective ◽  
Customer Perspective ◽  
Process Perspective ◽  
Internal Business Process

The purpose of this study was to determine the performance assessment of Bank Mega Syariah with the Balanced Scorecard method. There are four aspects of assessment in the balanced scorecard, namely financial perspective, customer perspective, internal business process perspective, and learning and growth perspective. The research method used is descriptive quantitative. The type of data is secondary, sourced from the Financial Statements and Annual Reports that have been published by Bank Mega Syariah. The data collection technique uses the documentation method from the official website of the Financial Services Authority, and the official website of Bank Mega Syariah. Data analysis technique is to calculate the score of each perspective, based on predetermined criteria. The results obtained from the analysis of the performance assessment of Bank Mega Syariah using the Balanced Scorecard method for the 2015-2019 period, for a financial perspective the NPF ratio shows a healthy predicate, the FDR ratio with a fairly healthy predicate, and an ROA ratio with a healthy predicate. healthy predicate, ROE ratio with fairly healthy predicate, BOPO ratio with very healthy predicate, and CAR ratio with very healthy predicate. For the customer perspective, it shows a decrease in Market Share and shows an increase in Customer Profitability. For the internal business process perspective, it shows an increase in Process Innovation and an increase in After Sales Service. For the learning and growth perspective, it shows a decrease in employee retention and shows an increase in employee productivity.Tujuan penelitian ini adalah mengetahui penilaian kinerja Bank Mega Syariah dengan metode Balanced Scorecard. Terdapat empat aspek penilaian dalam balanced scorecard, yaitu perspektif keuangan, perspektif pelanggan, perspektif proses bisnis internal, dan perspektif pembelajaran dan pertumbuhan. Metode penelitian yang digunakan adalah kuantitatif deskriptif. Jenis data yaitu sekunder, yang bersumber dari Laporan Keuangan dan Laporan Tahunan yang telah dipublikasi oleh Bank Mega Syariah. Teknik pengumpulan data menggunakan metode dokumentasi dari website resmi Otoritas Jasa Keuangan, dan website resmi Bank Mega Syariah. Teknik analisis data yaitu dengan menghitung skor masing-masing perspektif, berdasarkan kriteria yang telah ditetapkan. Hasil yang diperoleh dari kajian analisis penilaian kinerja Bank Mega Syariah dengan menggunakan metode Balanced Scorecard periode 2015-2019, untuk perspektif keuangan pada rasio NPF menunjukkan predikat sehat, rasio FDR dengan predikat cukup sehat, rasio ROA dengan predikat sehat. predikat sehat, rasio ROE dengan predikat cukup sehat, rasio BOPO dengan predikat sangat sehat, dan rasio CAR dengan predikat sangat sehat. Untuk perspektif pelanggan menunjukkan penurunan Pangsa Pasar dan menunjukkan peningkatan Profitabilitas Pelanggan. Untuk perspektif proses bisnis internal menunjukkan peningkatan dalam Inovasi Proses dan peningkatan Layanan Purna Jual. Untuk perspektif pembelajaran dan pertumbuhan menunjukkan penurunan Retensi Karyawan dan menunjukkan peningkatan Produktivitas Karyawan.

scholarly journals Strategic approach to environmental management: case of Russian chemical enterprise

2019 ◽  
Vol 110 ◽  
pp. 02091
Author(s):  
Aleksandr Kozlov ◽  
Irina Zaychenko ◽  
Ànna Smirnova
Keyword(s):  
Environmental Management ◽  
Balanced Scorecard ◽  
Management System ◽  
Environmental Management System ◽  
Management Tool ◽  
Chemical Plants ◽  
Environmental Aspects ◽  
The Balanced Scorecard ◽  
Strategic Approach

The article substantiates the need to integrate environmental aspects in a balanced scorecard (BSC) to improve the efficiency of environmental management system at chemical plants. For environmental management, the balanced scorecard serves as a convenient management tool that is able to provide relevant and timely information on the environmental aspects of the refinery.

Sign in / Sign up

Export Citation Format

Share Document