Balanced Scorecard Approach Research Articles

Sustainable Transformation: A Case Study of an Engineering-to-Order Additive Manufacturing Firm

Purpose: Addressing sustainability challenges in additive manufacturing (AM) is critical due to high energy consumption and waste. Optimising AM operations is vital for sustainability. However, the existing literature lacks practical examples for AM companies on how to enhance sustainability. To address this gap, a case study within an AM firm was conducted. Design approach: Using the analytical hierarchy process (AHP), sustainability key performance indicators (KPIs) were identified, aligned with the firm’s strategic objectives. Sustainable value stream mapping (Sus-VSM) analysed the production process for sustainability performance. A sustainability strategy map (SSM) was created based on the five perspectives of the 4th generation balanced scorecard (BSC) approach and the results from the case study. Findings: The research identified optimisation areas in the multi-jet-fusion (MJF) process, crafted tailored sustainability KPIs, and developed a SSM to seamlessly integrate sustainability initiatives into the company’s vision. Value: This contribution provides a structured methodology for selecting KPIs and offers a holistic approach to implementing Sus-VSM within the AM industry. The manuscript emphasises the need to incorporate a fifth perspective into the BSC and proposes a framework for developing a SSM. This study aims to guide AM companies toward a more environmentally responsible and socially conscious approach to manufacturing.

Performance Measurement Analysis of Athallah Primary Clinic Using Balanced Scorecard Method Approach

Performance measurement has always been a benchmark for business success, including the type of health service business at Athallah Pratama Clinic. This study uses quantitative descriptive analysis. The aim of this research is to measure performance at the Klinik Pratama Athallah with the concept of a Balanced Scorecard approach from four perspectives, namely: financial perspective, customer perspective, internal business process perspective and growth and learning perspective. The data analysis method used is comparative analysis, namely by comparing the performance measurements that have been achieved by Klinik Pratama Athallah with the performance measurements that have been achieved using the Balanced Scorecard method approach with the total score. It is hoped that the results of this research will mean that Klinik Pratama Athallah can implement performance measurement using the Balanced Scorecard method approach because the large score can show "Good" results over a period of 2 years.

Evaluation of Financial Performance with the Balanced Scorecard Approach in Retail Companies

This research assesses the financial performance of retail enterprises utilizing the Balanced Scorecard (BSC) methodology. The study used a quantitative methodology, gathering data from 75 retail firms via a Likert-scale questionnaire (1 to 5). The analysis use SPSS version 26, concentrating on four key Balanced Scorecard perspectives: financial, customer, internal business processes, and learning and growth. The findings indicate substantial positive relationships across the customer, internal processes, and learning and growth perspectives with financial success, with the customer viewpoint serving as the most robust predictor. The results indicate that retail firms can improve financial performance by prioritizing customer satisfaction, operational efficiency, and ongoing innovation. These insights offer significant recommendations for retail managers seeking to synchronize strategic objectives with operational performance.

Development Of Strategy Map And Measuring Corporate Performance With Sustainability Balanced Scorecard Approach (Case Study On Renewable Energy Consultant Services Company Pt Xyz)

Development Of Strategy Map And Measuring Corporate Performance With Sustainability Balanced Scorecard Approach (Case Study On Renewable Energy Consultant Services Company Pt Xyz)

Development Of Strategy Map And Measuring Corporate Performance With Sustainability Balanced Scorecard Approach (Case Study On Renewable Energy Consultant Services Company Pt Xyz)

This study aims to develop a Strategy Map of PT XYZ based on the company's vision, mission, strategic goals and analyze the company's performance as measured using the Sustainability Balanced Scorecard (SBSC) method. The research method used is qualitative, which involves conducting in-depth interviews and analyzing company documents. According to the research results, the PT XYZ Strategy Map consists of a vision, mission, 17 company strategic goals and 34 measurement indicators. The company performance of PT XYZ in 2021 and 2022, measured by the 5 SBSC perspectives can be indicated as sufficient performance, which obtained a total scorecard of 0. Based on 34 measurement indicators, 13 obtained a good assessment, 13 obtained a poor assessment, 3 obtained a sufficient assessment, and 5 could not be calculated because the company did not have related numerical documents. In the future, PT XYZ needs to increase its efforts to improve company performance and improve company data management so that it is easier to identify the company's achievements or performance to a measurable extent. Further, PT XYZ needs to integrate sustainability goals that become the company's vision into the company's business strategy, one of which is using SBSC as a company performance measurement tool. In addition, PT XYZ needs to integrate its vision of contributing to sustainability development into the company's business strategy, one of which is the use of SBSC as a corporate performance measurement tool.

Eight-year evaluation of dental public health students’ research using balanced scorecard – Retrospective study

Introduction:Measuring the performance of dental schools in the research area has always been challenging. Balanced Scorecard (BSC) is a performance measurement tool with four perspectives that balance financial and non-financial performance indicators. Some medical colleges use BSC for performance measurement of all departments’ activities while others use it in some sections or departments. This study is the first in the dental education field to use the BSC approach to assess the performance measurement of dental students’ research projects. Methods:A self-developed BSC was designed by the staff members at the dental public health department to reflect the educational strategies and objectives of the department; all data on dental public health students’ research from 2013/2014 to 2020/2021 were collected from the dental public health department, Dental Clinics Complex (DCC) files as well as databases of the Quality Assurance Unit to cover the basic four balanced perspectives. Results:Data from the four perspectives were introduced to Balanced Scorecard Pro Software Version 4.7.1.20. The resulting balanced scorecard indicated that the overall performance of students’ research activities was 89.38%. The learning and growth perspective showed the highest performance (95.33%) followed by the financial perspective (92.5%) then the internal process perspective (89.55%) while the customer perspective showed the lowest performance (82.19%). Conclusions:BSC is an efficient tool for the measurement of the performance of the departments at medical colleges. Our process is highly adaptable and can be easily implemented by any section, or institution looking to advance its educational mission and vision.

Financial Performance Assessment Using Balanced Scorecard Methodology in Indonesian Banks

The objective of this study is to assess the financial performance of XYZ Bank through the lens of the balanced scorecard approach. The research method employed is qualitative, with data drawn from the annual reports of the banks in question for the period spanning 2020 to 2021. This period encompasses both the pre-merger and post-merger phases of Bank Syariah Indonesia. The findings of this study indicate that, from a financial perspective, the combined ROE ratio of the three Islamic banks, which has undergone a merger, is improving and includes healthy qualifications, approaching 15%. The customer perspective reveals an encouraging improvement in profitability, which is attributable to both customer migration from the predecessor bank to the merged bank and new customer growth. The merger has facilitated operating efficiency due to the synergy of the merger, leading to an increase in employee productivity, as measured by revenue. The establishment of several business unit networks represents an innovative form of internal business process, which can facilitate service delivery. The implications of this research provide a more detailed description of performance measurement using data from the company's published annual reports. Previous balance scorecard research employed survey methods in order to obtain information related to the growth and learning perspectives, as well as the customer and internal business process perspectives. In contrast, this study uses only data from the company's financial statements and annual reports.

Analysis of Sharia Banking Performance Assessment with a Balanced Scorecard Perspective in the South Tangerang City Region

This research examines whether Sharia banks in South Tangerang City can achieve good performance if measured using the Balanced Score Card (BSC) approach from the perspective of finance, customers, internal business processes, and learning and growth. This field research observes population behaviour or events in a particular area. This research is descriptive and analytical. The research results show that Bank Syariah ABC UIN Syarif Hidayatullah Branch and Bank Syariah XYZ Ciputat Branch show adequate financial health, viewed from a financial perspective showing an increase in ROI of 3.14%, while Bank Syariah in 2022. Viewed from a customer perspective, the number of savings customers at Bank Syariah ABC has decreased by 1.25%. Meanwhile, from an internal business process perspective, Bank Syariah XYZ is not considered good enough because the response time is quite long when responding to customers. Viewed from a growth and learning perspective, the performance of these two Sharia banks is in good condition.

PERFORMANCE MEASUREMENT USING THE BALANCED SCORECARD PERSPECTIVE OF CUSTOMER SERVICE AND INTERNAL BUSINESS PROCESSES ON THE PHARMACEUTICAL INSTALLATION PERFORMANCE OF KENDAL ISLAMIC HOSPITAL

Introduction. Ensuring the quality of hospital services, quality control is carried out including monitoring and evaluation. One of the indicators is customer satisfaction and business processes aimed at measuring performance for the progress of the hospital. Method. This research used prospective observational research. Result & Analysis. Performance measurement of the Kendal Islamic Hospital Pharmacy Installation using the Balanced Scorecard method in terms of customer perspective with indicators of customer satisfaction and internal business process perspective with indicators of waiting time for concocted and non-concocted outpatient prescriptions, conformity of outpatient prescriptions with formularies, drug availability, and percentage of expired date and death stock drugs. Discussion. The results of the Balanced Score card approach in the Kendal Hospital Pharmacy Installation are “Fair” with an average score of 0.14. The customer perspective shows that patients are satisfied with the patient satisfaction index of 79.5%. Measurements from the perspective of internal business processes are quite good, the suitability of prescriptions with the formulary is 94.99%, the availability of drugs is 99.44% and death stock drugs are 1.08%, the waiting time for concocted drugs is 85.28% and non concocted 77.5%, expired drugs are 0.42%.

Performance Analysis of the Regional Public Service Agency (BLUD) of the Tanara Health Center, Serang Regency using the Balance Scorecard Approach

This study aims to analyze the performance of the Regional Public Service Agency (BLUD) at the Tanara Community Health Center in Serang Regency using the Balance Scorecard approach. The Balance Scorecard emphasizes the importance of balancing various aspects such as financial and non-financial, short-term and long-term, as well as internal and external factors. The performance analysis of the BLUD is viewed from four perspectives: growth and learning, internal processes, customer satisfaction, and financial perspectives. This research adopts a quantitative approach. Data collection is conducted through surveys to gather insights into the growth and learning perspective, the internal process perspective, and the customer satisfaction perspective. Secondary data is used to analyze the BLUD's performance from the financial perspective. The results of this study indicate that the health center has not yet met the target scores set by the government. Although some indikators have been achieved, there is still a need for improvement, particularly in internal processes and customer satisfaction. To enhance the performance of the BLUD at this health center, integrated efforts are required, such as improving services and internal processes as well as fostering innovation.

Balanced scorecard approach to measuring the performance of a non-profit organization: Case study on a Waqf-based Pesantren in Indonesia

This study explores how the Balanced Scorecard is useful to investigate its application in non-profit organizations, particularly in Waqf-based Pesantrens. The Balanced Scorecard considers four aspects: financial, customer, internal business, and growth and learning. The financial perspective relied on the institution’s annual report, while customer perspectives were collected via a questionnaire distributed among 100 individuals who regularly contribute to the charitable organization. Data used to evaluate learning performance, growth, and internal business came from Pesantren directors and managers through stakeholder interviews. The results demonstrate that, among these aspects, the customer perspective holds the most significance for non-profit organizations such as Waqf-based Pesantren institutions, receiving the highest score of 43. Next comes the financial aspect with a score of 21.86, while growth and learning and internal business share a score of 20 each. This emphasizes the crucial role of prioritizing the needs of customers in the strategic planning of non-profit organizations, specifically in Waqf-based Pesantren institutions. The results contribute insights for these organizations to enhance their strategic management practices by emphasizing the importance of the customer perspective in their decision-making processes.

THE RELATIONSHIP BETWEEN THE CIRCULAR ECONOMY AND BUSINESS PERFORMANCE: A SYSTEMATIC LITERATURE REVIEW

The circular economy represents an effective way to address limited resources and mitigate the impact of human activity on the planet. To summarize the possible effect of circular economy implementation on business performance and its possible measurement, a systematic literature review on a final sample of 28 papers was conducted. The main findings reveal that the circular economy can help to improve business performance and that numerous indicators could be used to measure it, especially the balanced scorecard approach, which seems suitable for such classification (however, more research on this topic is needed). Additionally, it was revealed that the circular economy concept itself has no clear and generally used definition, which complicates the summarizing of the revealed indicators. To simplify future research, we proposed a research framework based on this systematic literature review and emphasized the research gaps.

Process security methods and measurement in the context of standard management systems

Abstract The main purpose of the paper is to identify ways to establish process security in the constantly changing risk and control environment and to introduce a new model. The research is based on a literature review of process security components. Qualitative content analysis was used to establish a linkage between the certified management systems and the level of process security. Elaborations have been conducted based on the survey data of the International Standards Organisation (ISO) and served as a basis for analysis of certification types and their sectoral division in the European Union (EU) member states. A new Balanced Scorecard has been developed to cover the security pillars in the context of standard management systems and serve as a framework for process security measurement. The research paper processes the state-of-the-art issue of process security, introduces components that help to establish process security, and establishes a linkage between the level of process security and certified management systems. An analysis was based on the ISO certification information related to different management system standards. Management systems were analysed in the context of process security and corresponding process performance measures. A brief walkthrough has been prepared to demonstrate the processes behind the underlying performance measures. A new Balanced Scorecard approach has been developed that maps and covers different security aspects retrieved from and linked to different management system standards. The new Balanced Scorecard based on different security aspects of entities can be leveraged by any organisation, regardless of its size or business profile.

Analysis of Business Strategy Utilizing an Integrated Swot and Balanced Scorecard Approach

Analysis of Business Strategy Utilizing an Integrated Swot and Balanced Scorecard Approach

Evaluasi Pengukuran Kinerja dan Penerapan Balanced Scorecard pada PT. Citra Kridatama

By using the Balanced Scorecard approach, the purpose of this study is to determine the level of performance and factors that affect the performance of PT CITRA KRIDATAMA. Questionnaires were distributed to 35 employees to evaluate the performance of PT CITRA KRIDATAMA. By using the Balanced Scorecard, performance measurement will be carried out from four (4) points of view: financial, consumer, internal business processes, and learning and growth. With a total score of 0.277, this study shows that there is no significant relationship between employee performance and their job. The correlation figure of 0.189 indicates that performance tends to increase and vice versa. Based on the recommended results, PT CITRA KRIDATAMA should concentrate on employee productivity. One way to create a competitive strategy in the face of the business world is to use the Balance Scorecard.

Study of Environmental Performance Index of Mines Using a Balanced Scorecard Approach and Fuzzy Network Analysis

Study of Environmental Performance Index of Mines Using a Balanced Scorecard Approach and Fuzzy Network Analysis

IMPLEMENTATION OF BALANCED SCORECARD AT PT. MB

This study aims to determine the performance of PT. MB uses a balanced scorecard approach. Primary data were obtained from questionnaires using the nonprobability sampling purposive sampling method. Data obtained from customers and employees of PT. MB. Secondary data obtained from the financial statements of PT. MB period 2020 to 2022. The population is all customers and employees of PT. MB. The samples used were 94 samples for customers and 72 samples for employees. The data analysis method uses descriptive statistical test techniques. To determine the level of customer and employee satisfaction scores using factor analysis. The results of the balanced scorecard study on a financial perspective have an average performance from 2020 to 2022 for ROA has an average of 3.18%, ROE 3%, and NPM 2.30%. From a customer perspective, it is measured through a questionnaire with an average customer satisfaction level of 3,559. Customer acquisition costs have averaged $3.35. Consumer profitability has an average value of 3.10%. In the internal business process preceptive, the AETR ratio has an average of 11.55%. The time cycle of availability of goods has an actual time of 8.09. Sales order cancellation 0.8%. From a growth and learning perspective, the average employee productivity rate is 0.39%. Employee training has an average of 66.67%. And the level of employee satisfaction showed an average of 3,108.

The Balanced Scorecard Approach to measuring Cooperative Performance: Implications for Multipurpose Cooperatives in the Philippines

The Balanced Scorecard (BSC) has been studied a lot as a tool for measuring performance in corporate organizations around the world, but it hasn't been studied much in cooperatives. The goal of this research was to ascertain how multipurpose cooperatives perform using the BSC. A total of eighteen cooperatives were purposively chosen as samples for this research, where members, employees, and managers served as the respondents. The study utilized a descriptive research design whereby the researcher collected and analyzed financial statements for three years, made use of surveys to elicit responses from respondents, and conducted document analysis to further enhance the result. Results showed that the cooperatives’ financial performance obtained a "fair performance" rating using the Cooperative Development Authority's (CDA) performance standards. Members/customers received very satisfactory performance, while internal business processes and learning and growth received excellent results. This investigation revealed that despite financial performance issues, cooperatives met member expectations, provided outstanding business processes, and provided staff learning and development, contradicting Kaplan and Norton's assertion that optimal performance in all three areas leads to financial success. Weak areas were also identified along with the four BSC perspectives that need intervention, and strategies were devised to enhance and improve performance utilizing the BSC framework. It is recommended that cooperatives adopt strategies in terms of improving their performance, particularly in the identified weak areas, and meeting their objectives and goals as set by CDA. Future researchers may consider discovering cooperatives' performance in other social aspects.

Academic Clinic Development Strategy Through Balanced Scorecard Approach (Study at RSGM-P FKG Usakti Academic Clinic, Indonesia)

The Academic Clinic is a supporting facility for the academic continuity of dental faculty students. The need for the preparation of a strategic plan for the development of academic clinic services as a health organization aims to anticipate various kinds of situations that are always changing and related to external and internal environmental factors. Strategic management tools can help generate some of the best alternative strategies for developing academic clinics with the Balanced Scorecard (BSC) approach. This study aims to develop a development strategy for the Dental and Oral Educational Hospital Faculty of Dentistry Universitas Trisakti (RSGM-P FKG Usakti) Academic Clinic based on four BSC perspectives: finance, customers, internal business processes, and learning and growth. This operational research was conducted using quantitative and qualitative methods. Secondary data was collected from Badan Pusat Statistik (BPS), Hospital Annual Report, and comparable RSGMs. Primary data collection used questionnaires, interviews, and a Consensus Decision Making Group (CDMG) to obtain variables that became strategic factors. Based on four BSC perspectives, it increases academic clinic income from financial perspectives, provides easy access and increases customer trust for customer perspectives, captures market opportunities, builds a good image of academic clinics from an internal business processes perspective, and increases human resource capabilities for learning and growth perspective.

Application of ABC VEN Method in Procurement Management and Its Impact on Internal Business Processes that Impact General Patient Customer Retention in 2022 (Case study at RS X)

ABSTRACT X Hospital wants to increase the efficiency of pharmaceutical services by replacing the consumption-based drug procurement method with the ABC VEN method to overcome challenges such as out-of-stock, direct purchases from other vendors, and the use of multiple vendors, with a potentially positive impact on customer retention and compliance with relevant regulations and research. This study aims to examine the application of the ABC VEN method to improve inventory procurement planning at X Hospital, compare its effectiveness with the consumption method on internal business processes, and measure its impact on customer retention. This study uses a non-experimental approach with quantitative descriptive and observational retrospective, analyzes drug procurement January-July 2022, and evaluates the ABC VEN method from December 2022 through informant interviews at X Hospital to analyze internal business processes and retention of customers using the Balanced Scorecard approach. The number of samples used was 175 samples. The analysis of validation and reliability tests showed that most of the indicators on the satisfaction aspect were in the high category, while overall patient satisfaction was in the sufficient category. The indicators on the assurance and tangible dimensions are included in the sufficient category, showing attention to the availability of drugs and seating facilities to increase customer retention. The application of the ABC VEN Method at X Hospital from August to December 2022 has a higher realization rate (87%) than the Consumption Method (66%), with a direct procurement efficiency of 57% or IDR 64,816,401. Despite payment constraints, related parties consider implementing the ABC VEN Method more effective and can improve internal business performance and customer retention. Keywords: X Hospital, ABC VEN Method, Pharmacy Services