Research on usage of the balanced scorecard in business practice of Czech and Slovak companies

2018 ◽  
Vol 4 (10) ◽  
pp. 317-326
Author(s):  
Rastislav Rajnoha
Keyword(s):  
Balanced Scorecard ◽  
Research Methodology ◽  
Basic Research ◽  
Business Practice ◽  
The Balanced Scorecard ◽  
Current State ◽  
Fundamental Part ◽  
Survey Results ◽  
State Of Affairs ◽  
A Company

Nowadays, the balanced scorecard (BSC) concept is considered to be a strategic tool for measuring and managing the performance of a company. For this reason, this paper focuses on the presentation of selected research results related to usage of the BSC concept carried out in Czech and Slovak enterprises during the period 2006–2015. A theoretical part of the paper provides a detailed characterisation of the current state of affairs regarding the investigated BSC issue. The following part of the paper defines the basic research methodology and the expected contributions of the study. The fundamental part of the paper provides a presentation of the BSC usage results in Czech and Slovak enterprises. The aim of this paper is also to analyse and synthesise findings regarding the link between the BSC concept and the reward and remuneration system in the companies researched. In the final part of the paper, the survey results are introduced and confronted with those arising from professional studies carried out especially in Germany, Austria and the U.S.A. Keywords: Balanced scorecard, performance mangement, performance measurement.

Application of the Balanced Scorecard in the Veterinary company and Supplies Pa'lante S.P.R of R.L. of C.V

2019 ◽  
pp. 11-16
Author(s):  
Guillermo Benítez López ◽  
Margarita Cruz-Chávez ◽  
María de los Ángeles Valdez-Pérez
Keyword(s):  
Balanced Scorecard ◽  
Business Strategies ◽  
Reliable Measurement ◽  
The Balanced Scorecard ◽  
Proper Functioning ◽  
Measurement Strategy ◽  
A Company ◽  
And Training

The objective of the application of the Balanced Scorecard methodology in the Veterinary and supplies PA`LANTE S.P.R. OF R.L. DE C.V. In the area of production and repair of trailers is to identify exactly what should be monitored to introduce a reliable measurement strategy that provide information on performance and understand why they are giving certain results, the methodology is to align the companies towards the achievement of business strategies, through tangible objectives and indicators as it converts the vision of companies into action through a coherent set of indicators grouped into four business perspectives that are: Financial, Clients, Internal Processes and Training and Growth since this methodology suggests that these perspectives cover all the processes necessary for the proper functioning of a company. The contribution of the methodology is to determine what factors are influencing the area of production and repair of trailer that are affecting the production times considering the last three quarters of the year 2018.

The Long Way From α-Error Control to Validity Proper

2012 ◽  
Vol 7 (6) ◽  
pp. 661-669 ◽  
Author(s):  
Klaus Fiedler ◽  
Florian Kutzner ◽  
Joachim I. Krueger
Keyword(s):  
Error Control ◽  
Behavioral Science ◽  
Statistical Tests ◽  
Inductive Reasoning ◽  
Empirical Science ◽  
Scientific Culture ◽  
Current State ◽  
Alternative Hypotheses ◽  
Survey Results ◽  
State Of Affairs

Several influential publications have sensitized the community of behavioral scientists to the dangers of inflated effects and false-positive errors leading to the unwarranted publication of nonreplicable findings. This issue has been related to prominent cases of data fabrication and survey results pointing to bad practices in empirical science. Although we concur with the motives behind these critical arguments, we note that an isolated debate of false positives may itself be misleading and counter-productive. Instead, we argue that, given the current state of affairs in behavioral science, false negatives often constitute a more serious problem. Referring to Wason’s (1960) seminal work on inductive reasoning, we show that the failure to assertively generate and test alternative hypotheses can lead to dramatic theoretical mistakes, which cannot be corrected by any kind of rigor applied to statistical tests of the focal hypotheses. We conclude that a scientific culture rewarding strong inference (Platt, 1964) is more likely to see progress than a culture preoccupied with tightening its standards for the mere publication of original findings.

scholarly journals PENGGUNAAN BALANCED SCORECARD DALAM STRATEGIC MANAGEMENT JAMU PUSPO

2011 ◽  
Vol 4 (1) ◽  
pp. 24-38
Author(s):  
Andre Utoro Pusposuharto ◽  
Dewi Damayani ◽  
Rieke Henriani ◽  
Jimmy Sadeli
Keyword(s):  
Balanced Scorecard ◽  
Business Processes ◽  
Management Strategies ◽  
Past Performance ◽  
Business World ◽  
Financial Measures ◽  
Strategic Objectives ◽  
The Balanced Scorecard ◽  
A Company

The ’balanced scorecard’ is used not only as a tool to clarify the strategy of a company, but more importantly used for planning and development strategies. Without a strategy, it is impossible to survive in a competitive and dynamic business world. Combining long-term competitive capabilities with the goal of creating a synthesized company, the balanced scorecard can be trusted to utilize the financial measures of past performance to predict future performance. This data was analyzed from four perspectives: financial, customer, internal business processes, and learning and growth. The balanced scorecard is used as a basic measure, not only of the company's long-term goals, but also from the inclusion of the vision and mission. Herbal Puspo, a company engaged in the field of herbal pharmaceuticals, is also in the process of determining the direction and objectives of the company. The authors help determine its vision and mission which is then translated into strategic objectives for the company. The authors collected data and information, including surveys and industry analysis, which is then analyzed using a variety of basic theories of management strategies such as Porter's Five Forces and the TOWS matrix. From this analysis, the authors, together with the company management, summarized a strategic measure which was then translated into the four perspectives of the balanced scorecard companies.

scholarly journals Evaluation of Information Technology Governance in Banking Companies Using BSC and COBIT 4.1

2021 ◽  
Vol 2 (2) ◽  
pp. 23-27
Author(s):  
Elvis Pawan
Keyword(s):  
Information Technology ◽  
Balanced Scorecard ◽  
Industrial Revolution ◽  
Maturity Level ◽  
The Balanced Scorecard ◽  
Average Value ◽  
Technology Governance ◽  
Business Change ◽  
Information Technology Governance ◽  
A Company

Abstract - The era of industrial revolution 4.0, the progress of companies to achieve their vision and mission goals, is largely determined by the role of information technology, especially banking companies such as BPR PMM, the problem is that BPR PPM has not fully realized the importance of managing a business change, in order to maintain the company's existence. To determine the maturity level of the application of information technology in a company, it is necessary to conduct a thorough evaluation. In this study, there are seventeen processes in Cobit 4.1 that are solved on an internal balanced scorecard perspective. Cobit is a framework that is very well used in measuring the effectiveness of the application of information technology, while the balanced scorecard (BSC) is a framework that is very suitable to be applied to measure or assess the performance of a company. The combination of the two frameworks can provide a clear picture of internal perspectives that can be used by company leaders in improving information technology governance. This study resulted in a conclusion that the company maturity level in terms of business change management based on Cobit 4.1 and the internal balanced scorecard perspective has an average value of 2.90 at level 3 with defined categories.

scholarly journals The Balanced Scorecard as a Framework for Strategic Action

2011 ◽  
Vol 10 (3) ◽  
pp. 147-172
Author(s):  
Maxwell Dos Santos Celestino ◽  
José Dionísio Gomes Da Silva
Keyword(s):  
Balanced Scorecard ◽  
Harvard Business Review ◽  
Strategic Action ◽  
Public And Private ◽  
The Balanced Scorecard ◽  
For Profit ◽  
Intangible Resources ◽  
The Past ◽  
Current State ◽  
Almost All

The professor Robert Kaplan and consultant David Norton proposed the Balanced Scorecard nineteen years ago. From that time, the concept has been adopted by all sorts of organizations - manufacturing and services, for-profit and nonprofit, public and private - in almost all developed and developing nations in the world. During this period, the Balanced Scorecard has evolved from its original purpose as an improved system of performance measurement to become the basis of a new management system that aligns and focuses the organization on actions meant to establish and refine their strategy. This evolution and refinement of the concept of the Balanced Scorecard have been documented by Kaplan and Norton in additional articles in the Harvard Business Review at Harvard University and in several books. But because of the changes that have occurred over the past nineteen years, we seek to highlight the current state of the art and to explain how to become an organization focused on strategy using the Balanced Scorecard. To this end, we review the Scorecard’s literature in recent years, to understand the extent of these applications and the interdependence between tangible and intangible resources, considering not only the performance of the company at one point in time, but its time path and system dynamics.

scholarly journals The Determination of Performance Measures by Using a Balanced Scorecard Framework

2019 ◽  
Vol 11 (1) ◽  
pp. 43-56
Author(s):  
Irem Kefe
Keyword(s):  
Balanced Scorecard ◽  
Financial Measures ◽  
The Balanced Scorecard ◽  
Manufacturing Company ◽  
Strategy Map ◽  
Owned Company ◽  
The Relationship ◽  
A Company

Abstract The aim of this study was to determine the contributions of the balanced scorecard (BSC) methods to identify the relationship between the objectives and activities and examine how the BSC should be formed in a manufacturing company. The BSC framework was examined via a case study in a yarn manufacturing company. The activities to be carried out by the company to achieve its objectives and how the appropriate measures are determined in evaluating the contribution of the activities to the achievement of objectives are explained under the BSC approach. The BSC implementation and adaptation have facilitated in a family owned company because of its fast decision-making process. Objectives are made clear in accordance with the company’s strategy and causal relationship between objectives and activities are linked by the strategy map. The BSC implementation shows that financial measures are not enough to evaluate the effects of all the activities on the objectives in a company. The cooperation between departments in the company and the efficiency of corporation meetings increases. The meetings have become more result-oriented due to clarifying objectives and responsibility of individual levels.

Enhancing the Formation and Implementation of Sustainability Strategies Using the Balanced Scorecard

2015 ◽  
pp. 589-615
Author(s):  
Gyula Fülöp ◽  
Bettina H. Hernádi ◽  
Marjan S. Jalali ◽  
Ieva Meidutė-Kavaliauskienė ◽  
Fernando A. F. Ferreira
Keyword(s):  
Balanced Scorecard ◽  
The Balanced Scorecard ◽  
Corporate Strategies ◽  
Business Excellence ◽  
Sustainability Strategies ◽  
Sustainability Strategy ◽  
The Social ◽  
Sustainability Balanced Scorecard ◽  
A Company

Given the strategic challenges of the 21st century, it becomes fundamental to determine strategic alternatives for sustainability. This chapter aims to contribute to the successful formation and implementation of corporate strategies for sustainability and business excellence, through the development and application of an extended Balanced Scorecard (BSC), which includes the social and environmental perspectives. We outline the structure for a Sustainability Balanced Scorecard (SBSC) as well as the steps required for its development. Elements for each of the different sustainability strategies of the SBSC are proposed and, finally, a case study of the formation and introduction of a “credible” sustainability strategy in the chemical industry is presented. The results demonstrate the usefulness of the SBSC in pursuing sustainability strategies, and provide evidence that the introduction of such a system is likely to lead to fundamental changes in the way a company is managed. Practical implications and managerial guidelines are also presented.

scholarly journals The Innovativeness and Usage of the Balanced Scorecard Model in SMEs

2020 ◽  
Vol 12 (8) ◽  
pp. 3221
Author(s):  
Zdenka Dudic ◽  
Branislav Dudic ◽  
Michal Gregus ◽  
Daniela Novackova ◽  
Ivana Djakovic
Keyword(s):  
Balanced Scorecard ◽  
Structural Equation ◽  
Theoretical Data ◽  
Equation Model ◽  
Ideal Model ◽  
The Balanced Scorecard ◽  
Research And Innovation ◽  
Customer Perspective ◽  
The Republic ◽  
A Company

By using the balanced scorecard model, a company is able to identify its advantages, as well as its deficiencies, and thus improve its business. The introduction of innovations and the implementation of innovative activities in companies are key for gaining a competitive advantage. There is no ideal model that would measure the non-financial, non-tangible perspectives of a company (such as customer perspective, the perspective of research and innovation, and the perspective of internal processes). The main goal of this paper is researching the applicability of the balanced scorecard model in small- and medium-sized companies as the basis for a model for assessing innovative activities in the Republic of Slovakia and the Republic of Serbia. First, a hypothetical model was created based on theoretical data from world scientific articles. Then, the structural equation model (SEM model) was created, based on the conducted research in 223 companies and the obtained results.

scholarly journals IPTEKS BALANCED SCORECARD PADA PT. DAYA ANUGRAH MANDIRI MANADO

2018 ◽  
Vol 2 (02) ◽  
Author(s):  
Brenda M L Kawatu ◽  
Nadiya R Tamaka ◽  
Lady D Latjandu
Keyword(s):  
Performance Assessment ◽  
Performance Appraisal ◽  
Business Process ◽  
Balanced Scorecard ◽  
The Balanced Scorecard ◽  
Financial Perspective ◽  
Customer Perspective ◽  
Process Perspective ◽  
Internal Business Process ◽  
A Company

One important factor in assessing the achievements and success of a company to achieve a company goal is by conducting a performance appraisal analysis, PT Daya Anugrah Mandiri Manado is a company engaged in the sale of Honda motorcycles and maintenance which of course must be carried out performance assessment to measure level of achievement and success achieved. In this study the author conducted an analysis on PT Daya Anugrah Mandiri Manado for performance assessment using the Balanced Scorecard method which discusses several things in the method. With the method of performance assessment analysis and financial perspective techniques, customer perspective, internal business process perspective, learning and growth perspective. The results of the study are very good at using this method to assess the growth performance of the company. With suggestions, you can do an analysis of PT Daya Anugrah Mandiri Manado in order to find out whether there is performance growth or not.Keywords : performance measurement, balanced scorecard

scholarly journals System Dynamics and KPI’s Definition in the Automotive Sector

2017 ◽  
Vol 13 (13) ◽  
pp. 175
Author(s):  
Omar Villa Nevarez ◽  
Maria Guadalupe Lopez Molina ◽  
Juan Alfredo Lino Gamino
Keyword(s):  
System Dynamics ◽  
Automotive Industry ◽  
Balanced Scorecard ◽  
Automotive Sector ◽  
Deep Insight ◽  
Operation System ◽  
The Balanced Scorecard ◽  
Future Situation ◽  
A Company ◽  
Insight Into

In Mexico, the Automotive Industry is one of the most important sectors, based on the amount of sales, as well as for the number of people employed. The level of competition facing firms to win OEM programs requires having a very strict control over the whole company’s operation. System Dynamics is presented as a very powerful methodology for modeling the current and future situation of a company and combined with the Balanced scorecard concept, both provide a deep insight into the dynamics of the company. Based on this case of study a new methodology is proposed which provides a deeper insight on how the system works in such a way that the development of the company’s strategy has greater impact. Through the simulation of 24 months into the future it is possible to understand the system´s behavior in terms of the interrelation of the most critical variables which were defined as the main KPI´s.

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