scholarly journals The Role of Managerial Accountants and the Implementation and Monitoring of the Balanced Scorecard Metrics: A Literature Review

2021 ◽  
Vol 6 (2) ◽  
pp. p28
Author(s):  
Dhameeth, G.S. ◽  
Diasz, L.
Keyword(s):  
Literature Review ◽  
Financial Performance ◽  
Organizational Performance ◽  
Balanced Scorecard ◽  
Organizational Leaders ◽  
Management Tools ◽  
The Balanced Scorecard ◽  
Internal Capabilities ◽  
Financial Perspective

Organizational leaders use many management tools when planning and controlling. One of the most widely used is the Balanced Scorecard (BSC) metrics. Based on a literature review method used, this paper explored the dynamics that influence organizations to overlook the inputs of managerial accountants when using BSC when measuring organizational performance. We found that a misfit between the strategy of the firm and the firm’s internal capabilities and skills and the inability of the financial perspective to predict and improve financial performance to be predominant factors to overlook the inputs of managerial accountants when using BSC.

scholarly journals The Balanced Scorecard: the illusion of maximization without constraints

2012 ◽  
Vol 2 (1) ◽  
pp. 10-15
Author(s):  
Morten Jakobsen ◽  
Rainer Lueg
Keyword(s):  
Literature Review ◽  
Organizational Performance ◽  
Performance Measures ◽  
Balanced Scorecard ◽  
Analytical Study ◽  
Leading Indicators ◽  
Financial Indicators ◽  
Financial Success ◽  
The Balanced Scorecard ◽  
Overall Performance

The Balanced Scorecard (BSC) claims to maximize organizational performance through the management of different perspectives (e.g., financial, customers, internal processes, learning & growth). Most of the chosen measures are usually non-financial, as they are supposedly leading indicators of financial success. The developers of the BSC Kaplan and Norton see these perspectives as related, but not as linked to each other by accounting logic. Moreover, Kaplan and Norton recommend cascading the BSC across the organization by breaking up the BSC into sub-targets for each organizational unit.Inevitably, this can lead to situations where actors in an organization focus on a subset of non-financial indicators. In their attempt to maximize these indicators, unit-egoism may lead to sub-optimal overall performance of the organization. This is because the link from non-financial indicators at lower levels of the organization to the overall financial goals have been disjoined. This problem, however, has been largely ignored in the BSC-literature. Therefore, this paper addresses the rationality and limits inherent in the usage of multiple performance measures. For this, we conduct an analytical study based on a literature review.

scholarly journals PENILAIAN KINERJA PERGURUAN TINGGI ISLAM DENGAN BALANCED SCORECARD AGAR TERWUJUD LEMBAGA PENDIDIKAN ISLAM BERBASIS MAQASID SYARIAH

2017 ◽  
Vol 8 (2) ◽  
pp. 121-131
Author(s):  
Zuraidah Zuraidah ◽  
Esy Nur Aisayah
Keyword(s):  
Organizational Performance ◽  
Internal Control ◽  
Balanced Scorecard ◽  
Performance Measure ◽  
Strategic Objectives ◽  
Internal Process ◽  
The Balanced Scorecard ◽  
Financial Perspective ◽  
Process Perspective ◽  
And Performance

In improving organizational performance, alignment an organizations and individuals in the organization is very important. Balanced Scorecard is one of the alternative performance measure that aims to combine the performance measures of financial and non-financial. Inspired by Kaplan and Norton, the concept was developed in four perspectives: financial, customer, internal process and learning and growth. This article discusses how to build a balanced scorecard, include determining the strategic objectives, measures, targets, initiatives, and implementing the balanced scorecard in public organizations. The performance assessment of Islamic Universities have: 1) strategic targets financial perspective: the ability to obtain funding and cost efficiency, 2) strategic objectives perspectives of stakeholders, namely the satisfaction and pride for students, 3) strategic objectives of internal process perspective is a internal business portal, process and policy procedures, financial systems and reporting, internal control and performance measurement, research and community service quality, 4) strategic objectives of learning and growth perspectives improve the professionalism of human resources, improve the quality and infrastructure facilities. Islamic university has 21 strategic objectives in the four perspectives of the balanced scorecard. As well as the maqasid syariah used as an indicator both in aligning the results of an assessment of the performance of the Islamic universities.

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 The Alignment of Pay-For-Performance with the Strategy in Environment of Balanced Scorecard

2013 ◽  
Vol 12 (3) ◽  
pp. 151-182
Author(s):  
Kleber Albuquerque de Vasconcelos ◽  
Georgina Alves Vieira da Silva ◽  
Mário Teixeira Reis Neto ◽  
Kelly Soares Theotônio
Keyword(s):  
Organizational Performance ◽  
Balanced Scorecard ◽  
Pay For Performance ◽  
Individual Performance ◽  
Business Strategies ◽  
Management Tools ◽  
Economic Agents ◽  
The Balanced Scorecard ◽  
Compensation Management ◽  
Heavy Construction

According to Kaplan and Norton (1997) a fixed compensation no longer meets the diverse expectations of reward and remuneration of staff. In this scenario, the economic agents seek business management tools that allow connecting individual performance to organizational performance. Taking these in considerations, this study aims to analyze if the criteria for the use of pay-for-performance is in accordance with the organization's strategy expressed by the indicators and goals used in the Balanced Scorecard (BSC). A qualitative approach was through a field survey of descriptive character, using, for data collection, a structured questionnaire with open and closed questions. The sample consists of 17 Brazilian companies in three business segments (heavy construction, industry and technology / services) and leaders in the market in which they operate. The results showed that, although it was clear the use of indicators associated with the use of BSC, the pay-for-performance models studied did not included in a balanced way, the indicators associated with BSC. There is a dissonance between corporate rhetoric and practice and mainly, the non-recognition of compensation management as a tool for alignment and support business strategies

scholarly journals The relevance of learning and growth in organizations that adopt and do not adopt the BSC- characterization of the cultural profile

2018 ◽  
Vol 12 (33) ◽  
Author(s):  
Cidalia Oliveira ◽  
José Carlos Pinho ◽  
Anabela Silva
Keyword(s):  
Organizational Culture ◽  
Organizational Performance ◽  
Balanced Scorecard ◽  
Research Area ◽  
Management Tools ◽  
The Balanced Scorecard ◽  
Competitive Environments ◽  
Management Indicators ◽  
Measurement Tools

Organizational culture plays a key role, as it characterizes the way organizations behave, decide and guide their own success. Nowadays, due to highly competitive environments, performance is considered a leading concept in management. In the same vein, learning and growth are also important in order to fulfill the requirements related to the defined performance. Regarding the global competition that organizations increasingly face, there are a number of strategic measurement tools that support managers in their decisions. In this sense, the Balanced Scorecard (BSC) with its four perspectives, goes beyond the traditional management indicators as it monitors performance, promotes strategic alignment and fosters organizational communication. To put it another way, BSC is considered one of the most relevant strategic management tools to improve organizational performance. Despite the recognized relevance of this research area, this link of organizational culture with the BSC Learning and Growth perspective is yet unexplored. This study examines first the differences in organizational culture within organizations with and without the BSC. Second, the study focuses particularly on the learning and growth perspective in organizations with and without the BSC. Results indicate that organizations with the BSC are more receptive to Learning and Growth. A possible explanation for these results may be associated to the multinational level of the sampled organizations, which leverage Learning and Growth in higher proportions. 

scholarly journals Performance Measurement Through Balanced Scorecard Approach

2021 ◽  
Vol 8 (2) ◽  
pp. 352-359
Author(s):  
Lukman Chalid ◽  
Darwis Lannai ◽  
Muhammad Syafi'i A. Basalamah
Keyword(s):  
Organizational Performance ◽  
Balanced Scorecard ◽  
Health Centers ◽  
The Balanced Scorecard ◽  
Financial Perspective ◽  
Strategic Approach ◽  
Customer Perspective ◽  
Short And Long Term ◽  
Process Perspective

The purpose of this research is to assess the performance of health centers using the Balanced Scorecard (BSC) framework from four perspectives: the customer perspective, the internal process perspective, the learning and growth perspective, and the financial perspective. The BSC application is intended to measure organizational performance from a variety of perspectives, not just financial ones; there must be a balance of financial and non-financial perspectives. This means that BSC is a strategic approach to evaluating an organization's performance that balances the interests of various stakeholders by balancing short- and long-term objectives.

scholarly journals Mengukur Tingkat Kematangan Tata Kelola Sistem Informasi Akademik Menggunakan COBIT 4.1 dan Balanced Scorecard

2019 ◽  
Vol 5 (2) ◽  
pp. 127
Author(s):  
Elvis Pawan ◽  
Ema Utami ◽  
Asro Nasiri
Keyword(s):  
Organizational Performance ◽  
Balanced Scorecard ◽  
Cost Efficiency ◽  
Best Practice ◽  
Good Governance ◽  
Educational Institution ◽  
It Governance ◽  
Maturity Level ◽  
The Balanced Scorecard ◽  
Financial Perspective

Dalam perkembangan lembaga pendidikan sangat ditentukan oleh teknologi informasi (TI). Pada STIMIK Sepuluh Nopember Jayapura terdapat masalah dalam hal belum menyadari pentingnya untuk meningkatkan efisiensi biaya. Sehingga perlu dilakukan pengukuran untuk mengetahui tingkat kematangan lembaga dalam hal pengelolaan efisiensi biaya. Tata kelola TI sangat dibutuhkan untuk mengetahui sejauh mana pemanfaatan TI demi tercapaianya visi dan misi lembaga. Salah satu proses penting dalam penerapan tata kelola TI adalah melakukan evaluasi untuk mengetahui sejauh mana institusi menerapkan tata kelola yang baik. Penelitian ini menjelaskan bagaimana lembaga pendidikan dapat meningkatkan efisiensi biaya dan kontribusinya terhadap profitabilitas bisnis. Balanced Scorecard merupakan sebuah kerangka kerja yang baik untuk melakukan penilaian terhadap kinerja Organisasi. Dalam hal ini COBIT dan Balanced scorecard memberikan sebuah patokan pada financial perspektif yang dapat dijadikan acuan manajemen sebuah institusi yang ingin melakukan pembenahan khususnya dalam efisiensi biaya. Penelitian ini menghasilkan cara meningkatkan maturity level yang dapat dijadikan acuan oleh lembaga dalam menyusun tata kelola TI yang sesuai dengan best practice COBIT 4.1. Pada penelitian ini diperoleh kesimpulan bahwa tingkat kematangan tata kelola lembaga saat ini khususnya PO5 = 2,37 dan DS6=2,69, berada pada level 2.Kata Kunci — Tata Kelola TI, COBIT, Balanced ScorecardIn the development of educational institutions is largely determined information technology (IT). STIMIK Sepuluh November Jayapura there were problems in terms of not realizing the importance of increasing cost efficiency. Necessary to measure the maturity level of the institution in terms of managing cost efficiency. IT governance of an institution is needed to find out how far IT is used for achieving vision and mission. The most important processes in implementing IT governance is conducting an evaluation that aims to determine the extent of institutions in implementing good governance. This study explains how an educational institution can improve cost efficiency and its contribution to business profitability. The Balanced Scorecard is a good framework for assessing Organizational performance. COBIT and the Balanced Scorecard provide a benchmark for financial perspective that can be used as a reference for management in an institution that wants to make improvements, especially cost efficiency. This study has a way to improve the maturity level that can be used as a reference by the institution in compiling IT governance that is in accordance with COBIT best practices. In this study concluded that the current maturity level of institutional governance, especially PO5=2.37 and DS6=2.69, is at level 2Keywords— 3-5 IT Governance, COBIT, Balanced Scorecard

scholarly journals ANALYSIS OF THE MANAGEMENT OF THE FINANCIAL PERFORMANCE OF A POLITICAL PARTY IN ROMANIA USING THE CONCEPT OF BALANCED SCORECARD

2021 ◽  
Vol 14(63) (2) ◽  
pp. 111-120
Author(s):  
Ecaterina Cornelia Ungureanu ◽  
◽  
Liliana Mihaela Moga ◽  
Dragoș Sebastian Cristea ◽  
Andi Mihalache ◽  
...  
Keyword(s):  
Theoretical Model ◽  
Financial Performance ◽  
Balanced Scorecard ◽  
Political Party ◽  
Political Organization ◽  
Computer Application ◽  
The Balanced Scorecard ◽  
Financial Activity ◽  
Financial Perspective ◽  
Strategic Model

The research is a case study on the analysis of the financial performance of a political party in Romania, at the end of 2020, using the strategic model for measuring the performance of the Balanced Scorecard. A review of the existing international scientific literature and case studies was conducted to define a balanced plan of performance indicators for one of the four perspectives of the BSC theoretical model, namely the financial perspective, which is common to both an economic organization and a political organization. The paper evaluates the financial activity of a political party through a computer application - BSC Designer Light, whose architecture allows customizing the theoretical model of the Balanced Scorecard on the activity of a political organization. The purpose of the scientific approach is to evaluate the result of the financial activity, quantifying the scores obtained by the analysed party for each indicator and sub-indicator defined within the financial perspective. This study can be a consistent basis for expanding research to assess the performance of a political party from an electoral or parliamentary perspective and can be a viable alternative to current methods of quantitative evaluation used by political parties in analysing the activity results.

scholarly journals Balanced Scorecard: Literature Review and Implementation in Organization

2021 ◽  
Vol 13 (1) ◽  
pp. 111
Author(s):  
Deni Ahmad Taufik ◽  
Humiras Hardi Purba ◽  
Hasbullah Hasbullah
Keyword(s):  
Decision Making ◽  
Literature Review ◽  
Organizational Performance ◽  
Balanced Scorecard ◽  
Strategy Implementation ◽  
Sustainable Growth ◽  
Business Strategies ◽  
Management Technique ◽  
The Balanced Scorecard ◽  
Component Selection

The balanced scorecard is a formal management technique for developing, implementing, and managing business strategies. It isn't easy to ascertain the technique's success. Most of the literature on its implementation is put out by those with a vested interest in its success as a commercial product. Much has been written about barriers to strategy implementation but not specifically to implementing a balanced scorecard. The literature review in this paper shows that studies on BSC implementation in corporate organizations focus on improving organizational performance, assisting in decision making, assisting in component selection, evaluating production and learning and sustainable growth. This paper provides benefits for further research to add to the literature and understanding of the implementation of the Balanced Scorecard in any organization.

scholarly journals THE BALANCED SCORECARD AS A STRATEGIC PERFORMANCE CONTROL TOOL AND ITS LINK TO THE ECONOMIC PROFIT MEASUREMENT- EVA AND MVA: A LITERATURE REVIEW

2010 ◽  
Vol 2 (2) ◽  
pp. 76-87
Author(s):  
Anbalagan Krishnan ◽  
R. Ravindran
Keyword(s):  
Control System ◽  
Literature Review ◽  
Organizational Performance ◽  
Balanced Scorecard ◽  
Value Added ◽  
Performance Control ◽  
Strategic Performance ◽  
The Balanced Scorecard ◽  
Economic Profit ◽  
Control Tool

The organizational performance measurement and control system is vital to sustain the business in all economic environments. Organization requires a control system that measures the performance strategically. This paper gathers the literature discussion of one such popular integrated strategic performance control system, the balanced scorecard approach (BSC).  The discussion focuses on BSC approach on facilitating the implementation of organizational strategic and its link to the economic profit measures. Two popular economic profit measures, the Economic Value Added (EVA) and Market Value Added (MVA) are discussed in detail from various researchers point of view. The paper highlights the difference between these two measures and difference with the Return on Investment (ROI). The limitation of the economic profit measure is also highlighted in the discussion. As conclusion the link between the BSC strategic performance control tool and the economic profit measures are noted. This paper provides detailed discussions of both BSC strategic tool and economic profit measures based on literature review.

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