The Balanced Scorecard: A Potential Tool for Supporting Change and Continuous Improvement in Accounting Education

1999 ◽  
Vol 14 (3) ◽  
pp. 395-412 ◽  
Author(s):  
Otto H. Chang ◽  
Chee W. Chow
Keyword(s):  
Continuous Improvement ◽  
Balanced Scorecard ◽  
Accounting Education ◽  
Competitive Environment ◽  
Successful Implementation ◽  
Department Heads ◽  
The Balanced Scorecard ◽  
Rapid Changes ◽  
Potential Applicability ◽  
Potential Tool

Rapid changes in the technological and competitive environment are posing serious challenges to accounting education. Meeting these challenges will require accounting educators and programs to undergo fundamental changes and to continuously seek ways to increase the value of their contributions. This article illustrates how the balanced scorecard may be used by accounting educators to stimulate, guide and sustain such continuous improvement efforts. Survey and interview responses from 69 accounting department heads are generally supportive of the balanced scorecard's potential applicability and benefits to accounting programs. These department heads also provide suggestions on the items that can comprise an effective balanced scorecard for an accounting department, as well as factors that can affect its successful implementation.

Institutional contradiction and BSC implementation: comparative organizational analysis

2019 ◽  
Vol 27 (3) ◽  
pp. 414-440 ◽  
Author(s):  
Nizar Mohammad Alsharari ◽  
Riyad Eid ◽  
Ali Assiri
Keyword(s):  
Balanced Scorecard ◽  
Relevant Literature ◽  
Implementation Process ◽  
Successful Implementation ◽  
Organizational Analysis ◽  
Accounting Systems ◽  
Content Type ◽  
The Balanced Scorecard ◽  
Exploratory Investigation ◽  
Dialectical Perspective

Purpose This paper aims to explain institutional contradictions in the balanced scorecard (BSC) implementation process between organizations, which successfully implemented BSC. The purpose of this paper is to identify a comprehensive set of potential determinants influencing the successful implementation of BSC. Design/methodology/approach This study is an exploratory investigation into the BSC implementation based on a dialectical perspective. It uses the triangulation of data collection including interviews, documents and surveys. This also includes a comprehensive scrutiny of the relevant literature; a comprehensive analysis of case studies of BSC implementations in four organizations; and interviews and documents evidences that have already implemented or are in the process of implementing BSC. Findings The BSC was successfully implemented in the organizations, when the accounting systems introduced in these organization had already been institutionalized, that is, accepted and used on day-to-day basis. The dialectical perspective postulates that for change to become institutionalized in the organization, it needs to overcome the problem of embedded agency. This process of change is possible due to the accumulation of institutional contradiction that enables human praxis to introduce change (Seo and Creed, 2002). Research limitations/implications There is a need to empirically test and refine the proposed factors and explore relationships among the various variables by collecting data from organizations that have already implemented BSC. Practical implications The findings of this study are important and relevant to all the different-sized organizations in the different sectors and industries. This study also makes a significant contribution to society in general. Originality/value This paper contributes to the literature on organizational and accounting change that emphasis the crucial role that institutional contradiction plays in the process of BSC implementation. The findings of this study will help management in making crucial decisions and in resource allocations that are required to make the BSC implementation a success.

scholarly journals The balanced scorecard as a potential instrument for supporting planning and improvement in accounting education: Comparative survey findings

2004 ◽  
Vol 7 (3) ◽  
pp. 480-491 ◽  
Author(s):  
CJ Cronje ◽  
FNS Vermaak
Keyword(s):  
South Africa ◽  
Balanced Scorecard ◽  
Research Paper ◽  
Accounting Education ◽  
The Balanced Scorecard ◽  
Education Environment ◽  
Comparative Survey

This paper is firstly a comparison of the components of a potential balanced scorecard for accounting departments of universities in South Africa and Australia. Secondly, the various suggested measurement criteria of the balanced scorecard components are also compared. The findings of the research paper indicate no significant differences. The conclusion is that the balanced scorecard constitutes a potential instrument for supporting the planning and improvement of the accounting education environment.

scholarly journals Assessment of the applicability of the Balanced Scorecard concept in small and medium-sized enterprises

Skola biznisa ◽  
2020 ◽  
pp. 112-136
Author(s):  
Ivana Jolović ◽  
Nevena Jolović
Keyword(s):  
Balanced Scorecard ◽  
World Literature ◽  
Business Processes ◽  
Comparative Method ◽  
Relevant Literature ◽  
Efficient Solutions ◽  
Internal Communication ◽  
Performance Measurement System ◽  
Successful Implementation ◽  
The Balanced Scorecard

The modern management concept Balanced Scorecard (BSC), thanks to the efficient solutions it offers, draws increasing attention from the management across the globe. BSC is a performance measurement system which unites a traditional, financial perspective with the consumer, internal business processes, and learning and growth perspectives; and provides intelligibility of the company's vision and strategic goals, strengthening of the internal communication of employees, and more efficient realization of key business activities. The implementation of the BSC concept in large enterprises is a quite simple and efficient process, while the procedure of incorporating its postulates into the structure of small and medium-sized enterprises is extremely complex and uncertain. For that reason, the aim of this scientific research is the assessment of the applicability of the BSC in small and medium-sized enterprises, with a simultaneous overview of examples of successful and less successful implementation practices, and the most frequent reasons for non-implementation of the concept itself. The research is inspired by the observation that the world literature has, to a certain extent, neglected the analysis of the application of the BSC concept in small and medium-sized enterprises. The descriptive and comparative method, the technique of analysis and synthesis, as well as analysis of the content of relevant literature of reference, national and foreign authors were used for research purposes. The result of the research is the confirmed assumption that the implementation of the BSC concept in small and medium-sized enterprises is possible but at the same time quite complex and demanding due to the influence of different variables. Accordingly, the recommendations such as that the BSC model should be simplified and burdened with a smaller number of metrics in order to become more applicable in small and medium-sized enterprises were derived in the research.

scholarly journals Balanced scorecard for implementing united territorial communities’ social responsibility

2020 ◽  
Vol 18 (2) ◽  
pp. 128-139
Author(s):  
Nadia Pylypiv ◽  
Iryna Piatnychuk ◽  
Oleksandr Halachenko ◽  
Yuliia Maksymiv ◽  
Nazariy Popadynets
Keyword(s):  
Social Responsibility ◽  
Balanced Scorecard ◽  
Local Governments ◽  
Business Processes ◽  
Service Providers ◽  
Successful Implementation ◽  
The Balanced Scorecard ◽  
Use Of Resources ◽  
Strategic Goals ◽  
Decentralization Reform

Under decentralization, local governments gain more rights and opportunities to use various types of resources, thus, increasing their level of responsibility (including social responsibility) for the use of resources. The paper aims to reveal the consequences of decentralization reform for the indicators of united territorial communities (UTCs) budgeting that reflect their general socio-economic condition, as well as the nature of the latter one; to adapt the balanced scorecard (BSC) to the feature of UTCs’ functioning, and to develop the UTCs strategic map. The paper indicates that the system of balanced indicators is an analytical tool for ensuring the realization of the concept of social responsibility of the UТСs. The research resulted in the development of the balanced scorecard of indicators for UTCs. It includes the following blocks: internal business processes, funding, service providers, service consumers, and environment. The research contributed to the development of UTCs strategic map based on BSC adapted to the peculiarities of UTCs. The strategic map provides an opportunity to link strategic goals of UTCs with the developed BSC blocks and allows for a successful implementation of the concept of UTCs’ social responsibility in conditions of the need to achieve sustainable development.

Balanced Scorecard: Myth and Reality

2005 ◽  
Vol 30 (1) ◽  
pp. 51-66 ◽  
Author(s):  
I M Pandey
Keyword(s):  
Strategic Planning ◽  
Performance Measures ◽  
Balanced Scorecard ◽  
Success Factors ◽  
Business Processes ◽  
Planning Process ◽  
Tracking System ◽  
Successful Implementation ◽  
Strategic Planning Process ◽  
The Balanced Scorecard

The performance improvement process is a critical component of the strategic planning process. Call it by any name, the process is very vital, and it has always been practised by many companies worldwide for a long time. This process has been recently dubbed as the balanced scorecard. The balanced scorecard is a system of combining financial and non-financial measures of performance in one single scorecard. It includes performance measures for four perspectives: financial, customer, internal business processes, and learning and growth (innovation). It need not be restricted to four perspectives; more may be added. The social responsibility and environmental concerns are two possible candidates. The balanced scorecard focuses on the link between business processes and decisions and results. It is considered as a device to guide strategy formulation, implementation, and communication. It also helps in tracking the performance and providing quick feedback for control and evaluation. A number of companies in the USA and a few companies in India have implemented the balanced scorecard. The success of the balanced scorecard or a similar device will depend on the clear identification of non-financial and financial variables and their accurate and objective measurement and linking the performance to rewards and penalties. The proponents of the balanced scorecard claim that it aligns with strategy leading to better communication and motivation which causes better performance. This assumption could be the single most important reason for the popularity of the balanced scorecard. However, this may or may not be true in practice. This is an empirical question. There is a need to document the experiences of the balanced scorecard companies and establish the cause-effect relationship. There are several reasons for the use of the balanced scorecard by organizations: The balanced scorecard is a comprehensive tool to understand the target customers, their requirements, and the performance gaps. The balanced scorecard provides logic for focusing on creating intangible and intellectual capital which under the traditional financial performance systems was difficult to do. The balanced scorecard is able to articulate the strategy of growth with business excellence which requires greater focus on non-financial initiatives. The balanced scorecard enables employees to understand strategy and link strategic objectives to their day-to-day operations. The balanced scorecard facilitates performance review and feedback on a continuous basis. The balanced scorecard, we strongly believe, will be useful to an organization when it is a part of the strategic planning process. A successful implementation of the balanced scorecard has the following other prerequisites: Top management commitment and support Determining the critical success factors (CSFs) Translating CSFs into measurable objectives (metrics) Linking performance measures to rewards Installing a simple tracking system Creating and linking the balanced scorecards at all levels of the organization Setting up a sound organizational communication system to harness advantages of the balanced scorecard Linking strategic planning, balanced scorecard, and budgeting process for better allocation of resources.

scholarly journals Integrating Balanced Scorecard and Hoshin Kanri a review of approaches

2020 ◽  
Vol 11 (7) ◽  
pp. 2899-2924
Author(s):  
Rui Manuel Ferreira Dias ◽  
Alexandra Tenera
Keyword(s):  
Continuous Improvement ◽  
Balanced Scorecard ◽  
Research Work ◽  
Added Value ◽  
Strategy Development ◽  
Improvement Strategy ◽  
Integration Model ◽  
The Balanced Scorecard ◽  
Proposed Model ◽  
The Difference

This paper discusses how companies can make their Strategic Thinking, Strategic Planning, and also discusses the integration of the Balanced Scorecard (BSC) and Hoshin Kanri (HK) approaches and then suggests and exemplifies an integrated model that could facilitate company’s strategic deployment and implementation. A literature review of Balanced Scorecard and Hoshin Kanri conducted to provide a comprehensive understanding of each approach. The article discusses six integrated Balanced Scorecard / Hoshin Kanri models identified in the literature. The research work revealed differences and convergence points between Balanced Scorecard (BSC) and Hoshin Kanri (HK) approaches that the different integrated models intend to take advantage or reinforce in order to develop more robust methodologies. The study of different integration model, the difference between them and the know-how obtained in implementation and deployment of the strategy in the industry were crucial to develop the proposed model, which was conceived to overcome current identified models weaknesses. So, a new integrated framework was developed for Continuous Improvement organizations in order to leverage and combine Balanced Scorecard robustness and consistency for strategy development and Hoshin Kanri in order to added value in terms of short-term strategy, translating it to the everyday job activities, conceived and performed by all in turning of the Continuous Improvement strategy.

scholarly journals What to avoid when you are implementing a BSC? From success to failure

2016 ◽  
Vol 14 (3) ◽  
pp. 91-101
Author(s):  
Lucía-Clara Banchieri ◽  
Fernando Campa-Planas ◽  
Maria Victoria Sánchez-Rebull
Keyword(s):  
Organizational Structure ◽  
Balanced Scorecard ◽  
Previous Experience ◽  
Management Tool ◽  
Successful Implementation ◽  
Pilot Test ◽  
Key Factors ◽  
The Balanced Scorecard ◽  
The People

Approximately 20 years after the creation of the Balanced Scorecard (hereinafter BSC), BSC is the sixth most widely used management tool by organizations (Rigby and Biledau, 2011). The aim of this article is to identify the key factors for the implementation of a BSC in organizations. To do so, the authors analyzed two cases BSC implementation: one a success and the other a failure. The findings were classified by the answers to the following questions: What was implemented? Where was it implemented? Who implemented it? How did they implement it? and Why was it implemented? The four key factors for the successful implementation of the BSC identified in this study, which complement the existing literature on this subject, are: previous experience of the people responsible for the project; linking the BSC to available resources; consistency between the organizational structure and the strategy; and finally, carrying out a pilot test. Purpose: Approximately 20 years after the creation of the Balanced Scorecard (hereinafter BSC), BSC is the sixth most widely used management tool by organizations (Rigby and Biledau, 2011). The aim of this article is to identify the key factors for the implementation of a BSC in organizations. Design/methodology/approach: The methodology used for this research was the case study, specifically the “two case” study method (Yin, 2003). The cases were selected as being extremes: one organization that had successfully implemented a BSC, and a company whose implementation failed. The findings were classified by the answers to the following questions: What was implemented? Where was it implemented? Who implemented it? How did they implement it? and Why was it implemented? Findings: The four key factors for the successful implementation of the BSC identified in this study, which complement the existing literature on this subject, are: previous experience of the people responsible for the project; linking the BSC to available resources; consistency between the organizational structure and the strategy; and finally, carrying out a pilot test. Originality/value: The contribution made by this study consists of identifying additional key factors that may affect the success or failure of implementing BSC in an organization

Sign in / Sign up

Export Citation Format

Share Document