Application Of Balanced Scorecard Research Articles

Application of Balanced Scorecard in Performance Evaluation of Educational Management

Abstract Good or lousy school education management is closely related to students’ growth, so research on the improvement of education management performance has become a hot topic. Taking School H as an example, this study utilizes the balanced scorecard to construct a system for evaluating school education performance at four levels: financial, customer satisfaction, internal operation processes, and learning and growth. Based on this basis, the weights of the educational management performance evaluation indicators at all levels are calculated by combining the entropy method and hierarchical analysis method, and the comprehensive evaluation scores of all indicators are derived. In addition, the multiple concurrent causal relationships and realization paths of the high-level development of educational management are also explored using the qualitative comparative analysis model. The results show that the evaluation score of educational management quality is 4.108, and the scores of each dimension of the secondary indexes are 4.102, 4.05, 4.13, and 4.15, respectively, which are above 4, indicating that the quality of educational management in the sample universities is good. This study provides the implementation steps of balanced scorecard performance evaluation for colleges and universities and, at the same time, provides a reference for other colleges and universities’ performance evaluations.

A comprehensive evaluation of a company performance using sustainability balanced scorecard based on picture fuzzy AHP

The Balanced Scorecard (BSC) is a performance management tool that analyzes the relationship between tangible and intangible assets. Its ability to render business strategy visible has earned it the distinction of being a strategic management model. Sustainability has become an important part of daily and business life today. With the increasing importance given by stakeholders to environmental and social issues, companies find it necessary to evaluate sustainability activities in their performance evaluations. In order to meet this need, the Sustainability Balanced Scorecard (SBSC) emerged with the addition of a sustainability perspective or parameters to BSC. The number of academic studies pertaining to the application of BSC, which numerous companies and subjects to research have utilized, is inadequate. Due to its hierarchical structure and the necessity to evaluate numerous criteria, BSC is suitable for using multi-criteria decision-making (MCDM) methods. In this paper, an integrated approach consisting of SBSC, the Picture Fuzzy Analytic Hierarchy Process (PF-AHP), and the Objective Matrix (OMAX) method is proposed for the performance measurement of companies. The PF-AHP method has been reorganized for ease of application in determining the perspectives, strategic objectives, and Key Performance Indicators (KPIs) weights within SBSC. Additionally, the OMAX method has been employed for calculating the performance scores. This proposed approach was implemented in a factory operating in the glass industry. The SBSC created for the company includes five perspectives, 16 strategic objectives, and 34 KPIs. PF-AHP method was used to determine the weights of perspectives, strategic objectives, and KPIs to be used in the performance score calculation with OMAX. The weight of financial perspective is 0.267, the weight of the customer perspective is 0.247, the weight of the internal process perspective is 0.191, the weight of the learning and development perspective is 0.161, and the weight of the sustainability perspective is 0.134. The evaluations made by the decision-makers indicate that the company's performance measurement still adheres to the traditional framework. The performance score of the company is 6.14 out of 10.

ANALISIS PETA STRATEGI BERIKUT PENJABARANNYA: LESSON LEARNED PENERAPAN BALANCED SCORECARD SEKTOR PUBLIK

This study aims to describe the strategy map and its translation into strategic targets within the framework of the Balanced Scorecard (BSC) strategic management system implementation. The study used a qualitative approach based on document review, observation, interviews, and theoretical review. The study shows that the BSC strategic management system in the study object has been implemented through the translation of vision, mission, and strategy into operational objectives and performance measurement. The BSC system is considered successful in both organizational performance management and individual performance management. There is still a slight weakness in the application of BSC, namely in the preparation of key performance indicators (KPIs) for employee performance contracts, performance managers in the General Subdivision become coordinators and take over the work of all sections on the grounds of uniformity of format. Whereas the employee performance contract should be made by each employee in discussion with their direct supervisor. However, the coordination between the performance manager and the liaison officer of each section is enough to reflect the contribution of each section in the preparation of KPIs.

Study on the Application of Balanced Scorecard in A Company

Based on the theory of performance evaluation and the existing research, taking high-tech Electric Company A as the research object, the current situation and the existing problems in performance evaluation are analyzed. Thirdly, based on the balanced scorecard, the index system of performance evaluation is established from four dimensions. Finally, put forward targeted implementation suggestions. Through the research, the conclusion is drawn: the introduction of the balanced scorecard theory, the decomposition of enterprise strategic objectives, and the construction of the performance evaluation system index combining financial dimension and non-financial dimension can improve the performance and enterprise value of A enterprise.

Factors Affecting The Use Of Balanced Scorecards At Mechanical Enterprises In Hanoi

In the current period, mechanical enterprises face many difficulties and have to find ways to survive and develop. Besides organizing the apparatus, investing in production lines, designing and building brands, and setting up management tools to achieve strategy and goals are top priorities. Therefore, the application of the Balanced Scorecard (BSC) to evaluate the performance of an enterprise contributes to helping businesses improve operational efficiency and increase competitiveness in the market. The article aims to evaluate the influence of factors on the application of BSC in mechanical enterprises in Hanoi. The study shows that factors: enterprise culture, enterprise size, the usefulness of BSC, and ease of use of BSC are factors affecting the application of BSC at mechanical enterprises in Hanoi. Based on the research results, the authors give some recommendations and solutions to enhance the application of the balanced scorecard in mechanical enterprises in Hanoi.

Vận dụng thẻ điểm cân bằng để xác định chỉ tiêu đo lường thành quả hoạt động tại các ngân hàng thương mại trên đại bàn Thành phố Hồ Chí Minh The application of balanced scorecard to measure the performance of commercial banks in HCM CITY

This research focuses on the analysis of the application of balanced scorecard to measure the performance of commercial banks in HCM City. Specifically, the author utilized BSC to set up benchmarks related to finance, customers, internal process, and learning and development to measure the performance of commercial banks. In order to carry out the research, the author employed both qualitative and quantitative methods. Research findings suggested that benchmarks related to finance, customers, internal process, and learning and development had positive relationship with the measurement of performance of those commercial banks. Keywords: Management accounting, Balanced scorecard, Performance, Commercial banks.JEL Classification: E20, E30, E29

Scale of balanced scorecard application in evaluating the performance of Tourism firms in Hanoi

Scale of balanced scorecard application in evaluating the performance of Tourism firms in Hanoi

Application of Controlling Instruments for Strategic Planning in Small and Medium-Sized Enterprises

This paper attempts to find an answer to the question of what are the possibilities and limitations of using controlling instruments in the function of strategic planning in small and medium-sized enterprises. It is pointed out that such instruments, which are most often used in large companies, should find their application in small and medium-sized companies, as indispensable advisory help to managers. The paper additionally explains the specifics of strategic planning in small and medium-sized enterprises, and investigates the relevant factors that influence the success of strategic planning in these smaller economic systems, where the application of strategic instruments is insufficient, and controlling is only one of many limiting circumstances. The specificity of this paper is that it investigates the hitherto rarely analyzed role of the Balanced Scorecard (BSC) as a strategic planning instrument in small and medium-sized enterprises. The aim of this paper is to investigate the application of BSC in strategic business planning of small and medium-sized enterprises in the Republic of Croatia. Accordingly, the following research hypotheses were set: H 1 – Controlling instruments for strategic planning are rarely applied in small and medium-sized enterprises; and H 2 – There are numerous limiting factors for the application of controlling instruments and definition of business strategy in small and medium-sized enterprises. As a result of the research, on a sample of 136 small and medium-sized companies operating in the Republic of Croatia, both research hypotheses were confirmed.

Corporate Excellence Software

EFQM Excellence Model is a management model prepared by the European Quality Management Foundation in 1982 with the support of service and production organizations in the global arena and continuously updated. The last version updated in 2019 is known as EFQM 2020 Excellence Model. It provides guidance from 7 differentiated management perspectives on the way to perfecting the management processes of institutions. With this project, Process Management Application, Risk Management Application, Balanced Scorecard Application, Internal Audit Application, Corporate Self Evaluation Application and Process Blueprint Automation Application will be managed integrally. As mentioned, the software designed in 6 dimensions includes the design and management of processes, identification, and management of risks, detailed strategic planning and management with scorecard methodology, detection of internal excellence problem with self-assessment tools and digital monitoring of all applied processes with integrated automations. When performing EFQM applications, institutions use non-native and highly consistent applications or keep the details in MS Office applications with their own settings. With the Corporate Excellence Model Project, it was ensured that the management and reporting of Process data was facilitated. To ensure the data integrity of the institutions in EFQM applications and to provide convenience, speed, and performance to the institutions. First, it is ensured that the organizational charts and ties of the institutions are created, all processes are defined and from here the status of the organizational ties and processes can be followed. All management stages of processes are drawn using specific visual objects. In the process drawings, details such as who should perform the process steps, time information related to the realization of the step, process risk information, identification of process stakeholders and owners, definition of process control details, etc. can be defined in detail. Using these data, different reports were created with the data created in the drawings to facilitate the EFQM application and to perform data analysis.To meet the additional demands of institutions, the application is designed with a flexible structure. Drawings include features such as the ability to add additional objects and reports.It was ensured that application costs were reduced, and process change errors and bottlenecks in production and service applications could be detected in advance.

Factors affecting the application of balanced scorecard to enhance operational efficiency of listed companies: The case of Vietnam

Factors affecting the application of balanced scorecard to enhance operational efficiency of listed companies: The case of Vietnam

Performance measurement for fintech company

This paper proposes a frame measure for evaluating the fintech company’s performance. Based on the existing publications of multi-dimensional approaches to performance measurement and the fintech company, the study is conducted as a review article. The Balanced Scorecard is considered a suitable approach for the highest citations and application capacity in various kinds of firms. With the combination of the Balanced Scorecard and the highlighted characteristics of the fintech company, the frame measure is proposed for evaluating the fintech company’s performance. In detail, the fintech strategy map and four perspectives of performance with twenty-three measurements are proposed. The study provides the framework for the next quantitative studies that regard the estimation of the relationship between fintech performance and conventional banks. The new evidence of the Balanced Scorecard application for the fintech company is a new kind of firm in the digital era.

Analisis Penerapan Prespektif Balanced Scorecard terhadap Kinerja UMKM (Studi Empiris Warmindo di Kota Semarang)

The research was conducted on the MSME commercial sector which aims to find out how much contribution the implementation of the Balanced Scorecard (BSC) has by using four perspectives: finance, customers, internal business processes and learning and growth. The Balanced Scorecard concept is considered in accordance with the consideration that this concept is able to balance short-term plans with long-term plans, as well as balance financial performance with non-financial performance. In addition, the benefit of this research is that the company has the right business strategy and work program that can deal with these changes, enabling it to maintain and expand its business in the future in accordance with its vision and mission. By using this research technique, the application of BSC through four perspectives can make a significant contribution to the company's performance. This shows that MSMEs are continuously oriented towards efforts to maintain customer satisfaction to gain trust from product quality followed by the support of their productive and committed employees who will be able to provide products/services efficiently, consistently and on time by using information technology which has an impact on the ability to organization to generate adequate financial returns

The balanced scorecard as a strategic management tool in hospital pharmacies: an experimental study

PurposeA balanced scorecard (BSC) is an applied tool for implementing strategic management in various organizations. Implementing strategic management using the BSC approach has not received much attention in pharmacy departments. This study aims to provide a model for the strategic management of pharmacy departments using the BSC framework.Design/methodology/approachThis experimental study was conducted from 2015 to 2018 in a 300-bed hospital and regional healthcare centers affiliated with the Petroleum Industry Health Organization in Tehran province, Iran. After carefully reviewing the organization's mission and vision, the strategic objectives were determined via the internal matrix and the external matrix (IE matrix), and the strengths–weaknesses–opportunities–threats matrix (SWOT matrix) were examined. Then, six BSC measures and interventions were identified, and each was examined from the perspectives of finance, patient satisfaction, internal processes and learning/growth. Finally, the proposed strategy was evaluated.FindingsResults showed significant increases in patient satisfaction and gross profit. The observed increase range, from 0.09 to 0.29, indicates more effective operational management for optimal resource utilization. In addition, the pharmacy department was able to save US $539,137 by implementing prepared protocols for expensive medications. Similarly, the pharmacy department saved $442,899 during the two years of our strategic management plan by implementing the standard mechanism for returning unused medications to the pharmacy department after patients were discharged from various treatment units.Originality/valueThis study is among the first studies to demonstrate the simultaneous development, implementation and evaluation of the proposed strategy using the BSC in a pharmacy department in a public healthcare center. The BSC application improved the optimal use of resources and reduced costs while increasing patient satisfaction. It appears that the application of such an intervention may be as valuable to public pharmacies as it is to other private centers.

Maritime Environment Assessment and Management Using through Balanced Scorecard by Using DEMATEL and ANP Technique.

Previous studies have found that the occurrence of maritime accidents often lacks a sound environment management mechanism. The reason is that maritime safety needs management functions to promote each other. This study aims to assess the risk analysis of maritime accidents, applying balanced scorecard (BSC) concepts integrating decision-making trial and evaluation laboratory (DEMATEL) with analytic network process (ANP). The empirical results are that the balanced scorecard could be applied as a maritime procedure management method in maritime risk analysis. A total of 30 questionnaires were collected via scholar questionnaire, and five criteria or key factors for strengthening risk assessment of marine accidents were determined. According to the application of BSC, the risk analysis criteria constructed can assist maritime authorities to reduce the maritime accidents.

Literature Review on the Effect of Balanced Scorecard on Employee Wellbeing

Employee well-being is an important key area of human resource development (HRD), such as performance measurement, employee productivity, employee development, and motivation. Employees are a key element in realizing the organization's strategies. For this reason, measuring employee performance is important in terms of ensuring the efficiency and sustainability of the system and is an HR Strategy. The aim is to determine whether there is a quasi-experimentally demonstrable relationship between. Balanced Scorecard (BSC), and employee well-being. The study conducted qualitative and quantitative research based solely on the bibliographical review of previous theoretical/conceptual and empirical articles on the subject. Quantitative measurement data were collected from 9 empirical studies, and a total of 121 qualitative studies were reviewed. The findings of the study proved that there is a strong relationship between employee happiness and the increase in performance of organizations, while the BSC application increases employee happiness and indirectly the happiness of the organization. This article is an important reference work for HR development with Balanced Scorecard strategies.

Implementation of the Balanced Scorecard as a Strategy in Improving the Quality of Education

The basic need of someone who is classified as important is education. People can develop his intelligence, self-potential, skills and shape personality with an education. Through education, a person can also obtain information and knowledge to train and develop his character. One of the places where people can get education is school. Schools as educational institutions have the duty and responsibility to produce students with character, broad insight, acceptable to society, especially consumers or users and able to compete at a global level. To form quality students, of course, the educational institution itself must have qualified and qualified quality. To determine the performance of educational institutions, a measuring instrument is needed that can assess each process of the running of educational institutions. The Balanced Scorecard (BSC) is a measuring tool which is also one of the management systems used to measure the efficiency of the performance of the institution. In the application or implementation of BSC into educational institutions, it is necessary to pay attention to the elements and factors that are important so that the implementation is successful and able to improve the quality of educational institutions.

Effectiveness in the small enterprise state grant-funded programme performance – a balanced scorecard application

ABSTRACT This article presents and discusses theoretical and conceptual models to measure the effectiveness of a state grant-funded programme. The models were used to formulate the perspectives and strategic objectives a state programme can consider to implement and evaluate performance. The behavioural experiments method was adopted to test the validity of the study assumptions. The methodological contribution of the study is the development and application of balanced scorecard perspectives broken down into key performance objectives and key performance indicators evaluated in terms of an effective level scale. The lowest effectiveness level implies that the overall performance is very low while the highest effectiveness level implies that the performance of the programme is optimised. The study contributes to the current debate and a deviation from previous research. The fact that there is a direct link between expectations of performance, effectiveness and the objectives of publicly-funded programmes is another empirical contribution worth pursuing.

Application of Balanced Scorecard in Universities: Adiyaman University Case

Application of Balanced Scorecard in Universities: Adiyaman University Case

Feasibility Analysis of the Application of Balanced Scorecard in Performance Management of Private Colleges and Universities

As an important part of higher education in my country, private colleges and universities have faced many external environmental pressures and internal management problems in the development process in recent years. It is urgent to improve the performance management system of private colleges and universities. By using the performance management method of the balanced scorecard, the performance evaluation of private colleges and universities can be linked with the college strategy, and the purpose of strategic development and long-term competitive advantage can be gradually realized. This paper analyzes the existing problems in the management of private colleges and universities by expounding the relevant concepts of the balanced scorecard, an effective tool in enterprise performance management, and makes a feasibility analysis of the application of the balanced scorecard in the performance management of private colleges and universities. Suggestions are put forward to improve the performance management of private colleges and universities by using the balanced scorecard.

КИТАЙСКИЙ СТИЛЬ УПРАВЛЕНИЯ: КРОСС-КУЛЬТУРНАЯ ИНТЕГРАЦИЯ

Chinese business has been developing successfully despite the difficulties associated with the pandemic. Last but not least, this success is associated with the formation of an effective synthesis of cross-cultural platforms of corporate culture and modern Western management systems in Chinese companies. The article examines the influence of traditional values on the management of modern Chinese enterprises. This influence is characterized as a ‘projection of the provisions of Confucianism, Buddhism and Taoism upon corporate culture. Projections coexist, intertwine and integrate with Western approaches to management. As a result, cross-cultural constructs are emerging that allow Chinese companies to combine both traditional Chinese and Western values, which opens the way to effective management and rapid cross-border expansion of activities. To substantiate this understanding of the modern Chinese management style, the article analyzes the activities of Alibaba Group. The analysis shows that in the latest official reports, the company declares values that are projections of the provisions of Confucianism, Buddhism and Taoism. At the same time, the concept of the «strategy core» is also included in the values, referring to the internationally widely recognized Balanced Scorecard (BSC) strategic management system developed by American specialists R. Kaplan and D. Norton. This paved the way for the practical application of BSC in Alibaba Group, which turned out to be very successful. The experience of the Chinese e-commerce giant deserves to be studied in connection with the increased importance of Russian-Chinese business cooperation for Russia in modern conditions. The problem of coincidences and discrepancies of values of different cultures should be explored more systematically in order to activate the above-mentioned cooperation.