scholarly journals Corporate Culture And Balanced Scorecard Use: Evidence From Iraqi Manufacturing Industries

2019 ◽  
Vol 8 (5C) ◽  
pp. 987-995
Keyword(s):  
Strategic Management ◽  
Corporate Culture ◽  
Balanced Scorecard ◽  
Positive Relationship ◽  
Business Processes ◽  
Manufacturing Firms ◽  
Arab Countries ◽  
Manufacturing Industries ◽  
Limited Evidence ◽  
Strategic Management Accounting

The aim of this research is to articulate and test the relationships between corporate culture and the use of Balanced Scorecard (BSC). The framework of this research is centered on the contingency theory. Corporate culture involves four traits, which are adaptability, involvement, consistency, and mission, while BSC consists of four viewpoints such as financial, customer, internal business processes and learning and growth. The Smart PLS was used in analyzing the data collected from Iraqi manufacturing firms through a questionnaire. The results of a survey reveal that is a positive relationship exists between corporate culture and the usage of BSC. The outcomes add to the understanding in strategic management accounting as there is limited evidence on the link between corporate culture and BSC, particularly in Arab countries. This study shed a light on the importance of corporate culture and its effect on BSC

scholarly journals THE PARADIGM OF STRATEGIC MANAGEMENT OF MULTINATIONAL CORPORATIONS ON THE BASIS OF THE BALANCED SCORECARD

2015 ◽  
Vol 1 (7) ◽  
pp. 43
Author(s):  
Olena Burunova ◽  
Sergii Gushko ◽  
Volodymyr Kulishov
Keyword(s):  
Strategic Management ◽  
Multinational Corporations ◽  
Balanced Scorecard ◽  
Business Strategy ◽  
Business Processes ◽  
Swot Analysis ◽  
Scenario Planning ◽  
Information Support ◽  
Support Mechanism ◽  
The Balanced Scorecard

The paper investigates the process of strategic management and missions of a multinational corporation on the basis of the model of the balanced scorecard (BSC) formation. Due to the trends in modern management, the development of a company’s strategy, and the estimation of its efficiency are carried out with increasing frequency by means of scorecards. Thus, the aim of the research is to explore the paradigm of strategic management of multinational corporations within the framework of implementation of the model of an enterprise scorecard in an ERP system. The topicality of the research is determined by the necessity to implement the worked out in detail monitoring of company’s activity in a strategic focus, which will allow increasing the operationability and efficiency of administrative decisions and controlling the most essential financial and non-financial performance indices. In the course of work, the authors were guided by the principles of systemic and dialectical approaches to explore the problem. Thereat methods of logic and factor analysis, swot analysis, scenario planning, approaches to grouping, comparison, generalization, interconnection of the theoretical and practical aspects of the work of multinational corporations were used. They serve to deepen the theoretical and methodological aspects referred to the formation of the accounting and analytical information and implementation of the balanced scorecard model in the process of institutionalization of informative economy. It is well-proven that optimization of a business strategy of companies contributes to realization of the information support mechanism of the accounting and analytical systems under the condition of ERP introduction- systems for the improvement of methods of accounting, control and analysis. It gives an opportunity to efficiently manage the resources of corporations, to regulate their production load, to control quality and push their products forward to foreign markets. It has been found out that, taking into account these tendencies, it is possible to construct a pay card of the system of indices according to the levels of acceptance of administrative decisions on the basis of all main business processes of a corporation.

scholarly journals INTEGRATED APPROACHES TO ASSESSMENT OF STRATEGIC MANAGEMENT EFFICIENCY

2016 ◽  
Vol 2016 (5) ◽  
pp. 75-82
Author(s):  
Надежда Бойко ◽  
Nadezhda Boyko
Keyword(s):  
Complex System ◽  
Strategic Management ◽  
Balanced Scorecard ◽  
Business Processes ◽  
Financial Analysis ◽  
Assessment System ◽  
Achievement Level ◽  
The Balanced Scorecard ◽  
Management Efficiency ◽  
Complex Monitoring

The article specifies the need for reorganization of the existing control concepts towards the strategic orientation. The essence of strategic control is formalized, and the difficulties arising at the Russian enterprises fol-lowing such restructuring. The necessity to develop a complex scorecard is justified It allows, on the one hand, to transfer the strategy to operational terms, and on the other hand to provide a possibility of back coupling and complex monitoring of implementation of this strategy. The analysis of various modern concepts of strategic management is carried out, it has shown advantages of the balanced scorecard concept which allows to present the strategy of the enterprise in a system of clearly formulated goals and tasks, and also the indicators providing feedback and defining the achievement level of strategic goals in terms of following aspects: finance; marketing; internal business processes; per sonnel, training and growth. Criteria for the indicators selection characterizing each projection of the system are considered. The ob-servance of the principles testifies to systemacity of approach and interrelation of the selected indicators. The algorithm of a complex system creation for an assessment of strategic management efficiency using key components of Balanced Scorecard (BSC)-model on the basis of the financial analysis of the company is offered. The key indicators of the assessment system of strategic management efficiency are presented. They are selected according to the given algorithm. Advantages of the complex system for an assess-ment of strategic management efficiency are defined; expediency of its application at Russian enterprises is proved.

scholarly journals The Impact of Strategic Management Accounting Techniques in Taking Investment Decisions in the Jordanian Industrial Companies

2017 ◽  
Vol 11 (1) ◽  
pp. 145
Author(s):  
Sufian Salameh Jbarah
Keyword(s):  
Strategic Management ◽  
Balanced Scorecard ◽  
Management Accounting ◽  
Investment Decisions ◽  
Just In Time ◽  
Target Costing ◽  
Time Production ◽  
Industrial Companies ◽  
Strategic Management Accounting ◽  
The Impact

This research aimed to identify the impact of strategic management accounting techniques in taking investment decisions in the Jordanian industrial companies. The population of the study included all the Jordanian industrial companies while the sample consisted of (93) respondents from the investors and financial mediators in Amman stock market. The research revealed the presence of an effect of the strategic management accounting techniques with its variables (target costing, balanced scorecard, just in time production system) in taking investment decisions in the Jordanian industrial companies. In the light of the results, the researcher presented a number of recommendations, most prominently: using the strategic management accounting techniques by the Jordanian industrial companies and caring for its different fields to be able to interact and respond to the environmental, social and economic variables.

scholarly journals Employee Loyalty And Its Impact On Firm Growth

2011 ◽  
Vol 15 (1) ◽  
Author(s):  
Jasna Auer Antoncic ◽  
Bostjan Antoncic
Keyword(s):  
Business Performance ◽  
Firm Growth ◽  
Positive Relationship ◽  
Manufacturing Firms ◽  
Manufacturing Industries ◽  
Internal Quality ◽  
Employee Loyalty ◽  
Performance Achievement ◽  
Structured Questionnaire

Employees are crucial for the achievement of internal quality and consequently for business performance of companies. The quality of employees, their competencies, loyalty and commitment are extremely important for business performance achievement. For development of employee loyalty it can be important that employees find in work, which they perform, challenge, interest and the feeling of accomplishment. The way of treatment of employees in the organization is decisive in determining if employees will indeed become an integral part of the competitive advantage of the company. The paper focuses on employee loyalty and growth of companies. The hypothesis about the relationships between employee loyalty and firm growth was developed and empirically tested. Data collection was based of responses to the structured questionnaire on the sample of Slovenian companies from service and manufacturing industries. The hypothesis was tested by using regression analysis. Findings indicate a positive relationship between employee loyalty and firm growth, particularly for manufacturing firms. Recommendations for companies are also provided.

DEVELOPMENT OF STRATEGIC MANAGEMENT ACCOUNTING ON THE BASIS OF BALANCED SCORECARD

2021 ◽  
Author(s):  
Viktoriia Gryn
Keyword(s):  
Strategic Management ◽  
Balanced Scorecard ◽  
Management Accounting ◽  
Subject Area ◽  
Analytical Control ◽  
Accounting System ◽  
Management Accountant ◽  
Strategic Management Accounting ◽  
Management Accountants ◽  
Management Accounting System

The expediency of developing strategic management accounting based on the use of a balanced scorecard has been substantiated. The purpose of the article is to identify areas of development of the strategic management accounting system based on the use of a balanced scorecard, as well as obstacles to its effective functioning. The necessity of introducing the position of a strategic management accountant in the conditions of using a balanced scorecard at enterprises has been substantiated. The main differences between a strategic management accountant and a traditional management accountant have been identified. In order to overcome the crisis in the management accounting system, it has been proposed to expand the subject area of the classical management accounting system in order to meet the needs of strategic management of the enterprise. The possibilities of the balanced scorecard to provide comprehensive control and interactive management of the strategic development of the enterprise have been analyzed. The directions for the development of strategic management accounting based on the use of a balanced scorecard have been developed (development of organizational structure for building strategic management accounting system; distinguishing between the functions of strategic management accountants and strategic managers; empirical analysis of the effectiveness of the implementation of a balanced scorecard as an accounting tool). Organizational and methodological obstacles that prevent the introduction of a balanced scorecard as a method of strategic management accounting are identified and systematized into three groups. The job functions and strategic tasks of a strategic management accountant have been formed, which will combine traditional accounting functions for the collection and processing of strategic accounting information with analytical, control and communication functions. Organizational and methodological barriers to the smooth implementation of a balanced scorecard as a method of strategic management accounting in the practice of Ukrainian enterprises have been identified and analyzed (associated with improper performance of strategic management functions; associated with improper performance of their functions by strategic accountants; related to the economic and communication problems of the functioning of a balanced scorecard as an accounting tool).

scholarly journals Identifying the key factors and proposing a roadmap for successful lean transformation in Vietnamese manufacturing firms

2020 ◽  
Vol 5 (2) ◽  
Author(s):  
Bui Nguyen Hung ◽  
Le Phuoc Luong ◽  
Nguyen Thi Duc Nguyen
Keyword(s):  
Corporate Culture ◽  
Balanced Scorecard ◽  
Manufacturing Firms ◽  
Key Factors ◽  
Structured Interviews ◽  
Commitment To Change ◽  
Lean Transformation ◽  
Change Projects ◽  
Stakeholder Communication

This study is conducted to identify the key factors and propose a roadmap for successful lean transformation in Vietnamese manufacturing firms. Eight managers of two companies having successful lean performances and two lean experts from university and consulting company are invited to participate in semi-structured interviews to verify key factors of a successful lean transformation as well as to promote a lean roadmap with tools used for lean transformation in the context of Vietnam. The research results show that 10 key factors promoting a successful lean transformation are Role of management, Involvement and Commitment to change, Balanced scorecard implementation, Corporate vision and values, Corporate culture of change, Persuasive situation for change, Change projects, KPI application, Lean consultants, and Stakeholder communication. The respondents also adopt a roadmap for a successful lean transformation in Vietnamese companies including 3 phases (preparation, implementation, maintenance and improvement) in which 5S, Visual Control, and Work Standardization are the three most remarkable tools for lean transformation.

CURRENT ISSUES OF APPLYING THE CONCEPT OF COST MANAGEMENT IN STRATEGIC MANAGEMENT ACCOUNTING

2021 ◽  
pp. 36-42
Author(s):  
Y. A. Kotlova
Keyword(s):  
Strategic Management ◽  
Balanced Scorecard ◽  
Cost Management ◽  
Management Accounting ◽  
Management Tool ◽  
Effective Management ◽  
Economic Entity ◽  
Controlling System ◽  
Strategic Management Accounting

The article substantiates the need to focus not on the immediate profit, but on the long-term value of the economic entity in the framework of the implementation of controlling system and management accounting balanced scorecard, as an effective management tool for the sustainability of the economic entity

scholarly journals BALANCED SCORECARD AND STRATEGIC MANAGEMENT ACCOUNTING SYSTEM: DIRECTIONS OF INTERACTION

2021 ◽  
pp. 72-79
Author(s):  
Gryn V.
Keyword(s):  
Strategic Management ◽  
Balanced Scorecard ◽  
Financial Analysis ◽  
Management Accounting ◽  
Future Orientation ◽  
Information Provision ◽  
Integrated Approach ◽  
Accounting System ◽  
The Balanced Scorecard ◽  
Strategic Management Accounting

The urgency of considering the balanced scorecard as a method of strategic management accounting has been substan-tiated. The factors influencing the choice of methods of strategic management accounting of a particular enterprise have been highlighted (specific features of economic activity of the enterprise; specific features of the strategic management system of the enterprise; availability of free financial resources to build an information system of strategic management accounting of the en-terprise; management and accounting traditions). The approaches of Ukrainian scientists to the choice of methods of strategic management accounting have been analyzed. The advantages of the balanced scorecard in comparison with other methods of strategic management accounting have been considered. The essence of the balanced scorecard as a method of strategic man-agement accounting and the goal of each of its perspectives have been revealed. Proposals for the development of a balanced scorecard as a method of strategic management accounting in the research of Ukrainian scientists have been analyzed. The influence of the balanced scorecard system implementation on the transformation of system of information provision of strategic management of the enterprise in the context of the four basic directions has been analyzed (clarifying the vision and translating it into strategy; establishing communications and communication; implementation of planning and goal setting; establishing stra-tegic feedback). The procedure for constructing strategic maps of different levels in a balanced scorecard has been considered. The reasons for the possibility of understanding the balanced scorecard as a method of strategic management accounting have been determined (strategic orientation, external orientation, future orientation, application of financial and non-financial indica-tors). A balanced system of indicators is considered as a new method of strategic management accounting, using a process approach to understanding the enterprise, providing an integrated approach to strategic and financial analysis, providing a com-prehensive analysis of the enterprise (internal and external environment). The main ways of development of engineering bases of construction of system of strategic financial accounting are allocated and analyzed.Keywords: strategic management accounting, balanced scorecard, strategic accounting information, strategic control.Обґрунтовано актуальність розгляду збалансованої системи показників як методу стратегічного управлінського обліку. Виділено фактори, які впливають на вибір методів стратегічного управлінського обліку конкретного підприємства. Проаналізовано підходи вітчизняних вчених до вибору методів стратегічного управлінського обліку. Розглянуто переваги збалансованої системи показників у порівнянні з іншими методами стратегічного управлінського обліку. Розкрито необхідність розробки інформаційних надбудов до системи фінансового обліку для формування додаткової стратегічної інформації. Виділено додаткові види інформації. Розкрито сутність збалансованої системи показників як методу стратегічного управлінського обліку та мету кожної з її перспектив. Розкрито необхідні джерела інформації для фор-мування похідного стратегічного балансового звіту підприємства. Розроблено модель формування похідного стратегіч-ного балансового звіту підприємства, яка дозволяє розраховувати інжинірингові показники (чисті активи, чисті активи після здійснення коригувань, хеджовані чисті активи, стратегічні чисті активи, чисті пасиви) для аналізування результатів стратегічного управління підприємством. Проаналізовано вплив впровадження збалансованої системи показників на трансформацію системи інформаційного забезпечення стратегічного управління підприємством. Визначено причини можливості розуміння збалансованої системи показників як методу стратегічного управлінського обліку. Запропоновано структура збалансованої системи показників із доповненням показниками (метриками) з трьох додаткових перспектив підприємства (клієнти, внутрішні бізнес-процеси, навчання і кар’єрне зростання). Розглянуто збалансовану система показників як новий метод стратегічного управлінського обліку, з використанням процесного підходу до розу-міння діяльності підприємства, забезпечення інтегрованого підходу при здійсненні стратегічного та фінансового аналі-зування, забезпечення комплексного аналізування діяльності підприємства (внутрішнє та зовнішнє середовище). Виділено та проаналізовано основні шляхи розвитку інжинірингових засад побудови системи стратегічного фінансового обліку.Ключові слова: стратегічний управлінський облік, система збалансованих показників, стратегічна облікова інформація, стратегічний контроль

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