scholarly journals THE BALANCED SCORECARD AND EFQM WORKING TOGETHER IN A PERFORMANCE MANAGEMENT FRAMEWORK IN CONSTRUCTION INDUSTRY

2013 ◽  
Vol 19 (5) ◽  
pp. 683-695 ◽  
Author(s):  
Mladen Vukomanovic ◽  
Mladen Radujkovic
Keyword(s):  
Performance Management ◽  
Construction Industry ◽  
Balanced Scorecard ◽  
Best Practice ◽  
Analytic Hierarchy ◽  
Strategic Objectives ◽  
The Balanced Scorecard ◽  
Construction Companies ◽  
Working Together ◽  
New Perspective

In the recent years the Balanced Scorecard (BSC) and EFQM Excellence Model (EFQM) became very popular performance management (PMM) models. However, many studies showed their flaws, especially in communicating, integrating and aligning Key Performance Indicators (KPI) with strategy, setting targets and conducting benchmarking. BSC or EFQM have always been used alone and regarded as exclusive PMM tools. In contrast, this study introduces a novel PMM framework that relies on the strengths of both BSC and EFQM. The framework uses the Analytic Hierarchy Process (AHP) to connect these two models. At first, AHP is used for setting priorities among competitive strategic objectives and afterwards for selecting KPIs against SMARTER (Specific, Measurable, Achievable, Relevant, Time-bound, Encouraging and Rewarding) criteria. By verifying the framework on the construction industry we discovered that companies can integrate EFQM and BSC to conduct benchmarking, identify best practice, align strategy with the competitive surroundings and selecting strategy aligned KPIs. Using this framework, construction companies can thus achieve strategic control that otherwise by just using BSC could not be achieved. These findings are important because they bring a new perspective on managing organizations and confront many authors who have put EFQM and BSC against each other.

The Fifth Perspective

2010 ◽  
pp. 2378-2388
Author(s):  
Preeti Goyal ◽  
Bhimaraya A. Metri
Keyword(s):  
Performance Measurement ◽  
Performance Measures ◽  
Balanced Scorecard ◽  
Business Process Outsourcing ◽  
Organizational Boundaries ◽  
Strategic Objectives ◽  
The Balanced Scorecard ◽  
Measurement Framework ◽  
External Relationships ◽  
New Perspective

Today, alliances, collaborations, and networks are synonymous with strategy. Business process outsourcing (BPO) is one such type of alliance. With increasing reliance on outsourcing, the organizational boundaries are blurring. The implications for the client organization can be tremendous, as it now relies on an outside organization to fulfill its operational objectives. Currently, there is no single framework that can effectively measure performance for BPO arrangements. In its present form, the balanced scorecard (BSC) only addresses the performance measurement needs of a single enterprise and any perspective on any external relationships is completely missing. The traditional BSC does not suffice as a performance measurement framework for BPO. While both the client and the vendor can use a BSC for their respective organizations, the strategic objectives of the organizations may not be met. In this article the authors propose a new perspective as an extension to the BSC, namely, the goals alignment perspective. Goals alignment of the two organizations will enable creation of performance measures that will help participating organizations to achieve their respective goals.

scholarly journals Performance Assessment in Business of Agricultural Companies using Balanced Scorecard Model

2015 ◽  
Vol 48 (2) ◽  
pp. 109-120 ◽  
Author(s):  
S. Brezuleanu ◽  
Carmen Olguţa Brezuleanu ◽  
I. Brad ◽  
T. Iancu ◽  
A. Ciani
Keyword(s):  
Performance Management ◽  
Balanced Scorecard ◽  
Classical Model ◽  
Integrated Approach ◽  
Strategic Objectives ◽  
Four Dimensions ◽  
The Balanced Scorecard ◽  
Individual Level ◽  
Financial Perspective ◽  
Long Time

AbstractThe performance management is a strategic and integrated approach for long-time success of the activity of agricultural companies, by improving the performance of the organization, teams and individuals. In search of success, the performance management uses a variety of models, techniques and methods, some taken from other systems and improved and others of its own, focusing on strategy and differentiating features that provide a strong competitive advantage. The Balanced Scorecard (BSC) model identifies several dimensions of the organization, representing areas where organizations need to achieve results at department, team or individual level. According to the type of the agricultural company, there can be esential financial aspect, customers, internal processes, knowledge and learning, service quality, market share etc. The company under study, S.C. Agrocomplex Lunca Paşcani S.A., is representative in terms of ownership, farm and profile of the agricultural production in Moldavia region. According to the methodology developed, starting from the strategy of S.C. Agrocomplex Lunca Paşcani S.A. we identified the strategic objectives for each situation and the level of reaching the objectives using several indicators. In the second stage of the BSC analysis, the indicators are defined according to the management priorities of S.C. Agrocomplex Lunca Paşcani S.A. in four categories, corresponding to the four dimensions of the classical model: customer perspective, perspective of processes within the company, employee perspective and financial perspective

scholarly journals Rancangan Service Scorecard sebagai Pengukuran Kinerja Pelayanan Cargo

2015 ◽  
Vol 2 (3) ◽  
pp. 143
Author(s):  
Nurlailah Badariah ◽  
Tiena Gustina Amran ◽  
Aditya Friandy
Keyword(s):  
Performance Management ◽  
Customer Service ◽  
Balanced Scorecard ◽  
Business Processes ◽  
Business Environment ◽  
Strategic Objectives ◽  
The Balanced Scorecard ◽  
Financial Perspective ◽  
Customer Perspective ◽  
Charter Flight

<p><em>Abstrak<strong> – </strong></em><strong>Persaingan antara pelaku bisnis </strong><strong><em>charter flight</em></strong><strong> semakin ketat dalam persaingan global. perusahaan harus  dinamis dan adaptif terhadap perubahan lingkungan bisnis. Perubahan ke arah strategi yang dapat diimplementasikan sesuai dengan perkembangan persaingan </strong><strong><em>charter flight</em></strong><strong> untuk pelayanan yang terbaik bagi pelanggan. Penelitian ini menggunakan pendekatan aplikatif yaitu merancang suatu sistem yang dapat diaplikasikan pada perusahaan </strong><strong><em>charter flight</em></strong><strong>, yang telah memiliki sistem pengelolaan kinerja dengan menggunakan </strong><strong><em>Balanced Scorecard</em></strong><strong>. </strong><strong>Pada perancangan </strong><strong><em>Balanced Scorecard</em></strong><strong> terdapat 4 perspektif utama yaitu : </strong><strong><em>financial perspective , customer perspective, internal business processes , learning and growth perspective</em></strong><strong>. </strong><strong><em>Balanced Scorecard</em></strong><strong> tidak di desain secara spesifik untuk perusahaan jasa dan tidak bersifat prediksi.</strong><em> </em><strong>Sementara</strong> <strong><em>Service </em><em>Scorecard</em> memfokuskan spesifik pelayanan pada <em>customer perspective</em>. </strong><strong>Dari hasil penelitian diperoleh </strong><strong><em>Strategy Mapping</em></strong><strong> yang memuat tujuan-tujuan strategis dan indikator (<em>Lead dan Lag</em>) dari <em>Service Scorecard</em>. Terdapat 17 ukuran kinerja yang temuat di dalam 17 tujuan strategis dan 7 perspektif dari <em>Service Scorecard</em> yaitu : <em>Growth, Leadearship, Acceleration, Collaboration, Innovation, Execution, Retention</em>. Tujuan strategis yang dibuat dalam suatu Strategy Mapping dan indikator sangat berguna untuk menyusun langkah selanjutnya yang akan ditempuh oleh perusahaan. </strong></p><p> </p><p><em>Abstract<strong> – </strong></em><strong>Competition </strong><strong>between charter flight businesses increasingly stringent in a global competition. Companies must be dynamic and adaptive to changes in the business environment.  Changes in the direction of strategy that can be implemented in accordance with the competition  development of charter flight for the best service for customers. This research uses applicative approach to design a system that can be applied to the charter flight company, which already has a performance management system by using the Balanced Scorecard. In the Balanced Scorecard , there are four main perspectives: financial perspective, customer perspective, internal business processes, learning and growth perspective. Balanced Scorecard is not designed specifically to service companies and non-predictive. While the Service Scorecard specific focus on customer service perspective. This research has resulted a strategy map with subsequent strategic objectives and indicator (Lead and Lag) for Service Scorecard. Finally, there are 17 performance measures with subsequent 17 strategic objectives and 7 perspectives Service Scorecard: Growth, Leadearship, Acceleration, Collaboration, Innovation, Execution, Retention. Strategic goals made in a Mapping Strategy and indicator is very useful to formulate the next steps to be taken by the company.</strong><strong></strong></p><p><strong><em> </em></strong></p><p><strong><em>Keyword </em></strong><em>– Service Scorecard, Balanced Scorecard, Strategy Mapping, </em><em>customer perspective, </em><em>Lead dan Lag</em></p>

Extending the Balanced Scorecard for Outsourcing

2010 ◽  
pp. 68-79
Author(s):  
Preeti Goyal ◽  
Bhimaraya A. Metri
Keyword(s):  
Performance Measurement ◽  
Performance Measures ◽  
Balanced Scorecard ◽  
Business Process Outsourcing ◽  
Organizational Boundaries ◽  
Strategic Objectives ◽  
The Balanced Scorecard ◽  
Measurement Framework ◽  
External Relationships ◽  
New Perspective

Alliances, collaborations and networks are synonymous with strategy today. Business Process Outsourcing (BPO) is one such type of alliance. With increasing reliance on outsourcing, the organizational boundaries are blurring. The implications for the client organization can be tremendous, as it now relies on an outside organization to fulfill its operational objectives. Currently, there is no single framework, which can effectively measure performance for BPO arrangements. In its present form, the Balanced Scorecard (BSC) only addresses, the performance measurement needs of a single enterprise and any perspective on any external relationships is completely missing. The traditional BSC does not suffice as a performance measurement framework for BPO. While both the client and the vendor can use a BSC for their respective organizations, the strategic objectives of the organizations may not be met. In this chapter, the authors propose a new perspective as an extension to the BSC, namely the goals alignment perspective. Goals alignment of the two organizations will enable creation of performance measures that will help participating organizations to achieve their respective goals.

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.

Performance Measurement using Balance Score Card and its Applications: A Review

2015 ◽  
Vol 4 (3) ◽  
Author(s):  
Shradha Gawankar ◽  
Sachin S. Kamble ◽  
Rakesh Raut
Keyword(s):  
Performance Measurement ◽  
Organizational Performance ◽  
Performance Management ◽  
Balanced Scorecard ◽  
Strategic Change ◽  
The Balanced Scorecard ◽  
Balance Score Card ◽  
Measurement Framework ◽  
Score Card ◽  
And Performance

This paper aims to propose the idea of briefly explaining the balance scorecard by highlighting its use, application in depth. A critical enabler in achieving desired performance goals is the ability to measure performance. Despite the importance of accurately measuring organizational performance in most areas of academic research, there have been very few studies that have directly addressed the question of how overall organizational performance is or should be measured. Perhaps more importantly, none of these studies seems to have significantly influenced how overall organizational performance is actually measured in most of the empirical research that uses this construct as a dependent measure. The most popular of the performance measurement framework has been the balanced scorecard abbreviated as BSC. The BSC is widely acknowledged to have moved beyond the original ideology. It has now become a strategic change management and performance management process. The approach used in this paper is the combination of literature review on evolution of balance score card and its applications in various sectors/organizations/ areas. This paper identify that the balanced scorecard is a powerful but simple strategic tool and the simplicity of the scorecard is in its design. By encompassing four primary perspectives, the tool allows an organization to turn its attention to external concerns, such as the financial outcomes and its customers expectations, and internal areas, which include its internal processes to meet external requirements and its integration of learning and growth, to successfully meet its strategic expectations. This paper provides a comprehensive overview of the balanced scorecard combined with application and strategy, which are now in a better position to begin to recognize managements expectations and to discover new ways to build value for workplace learning and performance within organization.

scholarly journals Verifying Theoretical Concepts of Performance Management Framework

2018 ◽  
pp. 815-824
Author(s):  
Reno Renaldi Tibyan ◽  
Dermawan Wibisono ◽  
Mursyid Hasan Basri
Keyword(s):  
Performance Management ◽  
Balanced Scorecard ◽  
Single Case ◽  
Group Discussion ◽  
Theoretical Concepts ◽  
Management Framework ◽  
Verification Method ◽  
The Balanced Scorecard ◽  
Verification Process

Purpose – This paper aims to discuss the verification process of the theoretical concepts of the proposed performance management (PM) framework in practice. Design/methodology/approach – A case study based on a focus group discussion (FGD) method is used to describe the application a PM framework and the implementation of a PM system in a case organisation. Findings – The findings show that the case organisation has been applying the Balanced Scorecard framework and show that it needs to add some important aspects to the framework to support the better implementation of its PM system. Research limitations/implications – This paper is based on a single case study due to the need for an effective FGD in a selected organisation. Originality/value – The study drives the development of PM research in the use of a theoretical verification method to confirm the application of the theoretical concepts of PM framework in practice.

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