Balanced Scorecard Perspectives Research Articles

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.

Role of Microfinance Institutions in Ethiopian Economy: A Review

This work reviews the role of microfinance institutions in the Ethiopian economy, which was done by using a balanced scorecard (BSC) performance review approach that integrates both financial and nonfinancial metrics. The BSC framework of the review was developed using a total of performance indicators that were equally categorized under BSC perspectives (financial, customer, internal business processes, and learning and growth). The developed framework was applied to MFIs operating in Ethiopia, which have head offices in all regional capitals of the country and report to the Association of Ethiopian Microfinance Institutions (AEMFI) starting in 2010–2012 consecutively. The work of the review shows that based on their financial role, on average, the institutions reviewed are sustainable with high relative productivity and low profitability. The average non-financial performance is also high, indicating that the reviewed institutions are highly performing in both non-financial and financial measures. Beside the role performance, the work of this review confirmed the relationship assumption of BSC perspectives and it shows a positive correlation among them. The review concludes that comprehensive performance is observed when it is measured in a collective way. So, Ethiopian MFIs suggested paying attention to the use of BSC as a performance measurement tool and as a hub for specified role indicators that need enhancement.

ANALISIS KINERJA IFRS X PURWOKERTO DARI PERSPEKTIF PERTUMBUHAN DAN PEMBELAJARAN BALANCED SCORECARD

IFRS X is an integral part of the hospital, and has a strategic role in the professional development of hospitals and hospital economics. IFRS X in order to enter the business environment in the future an increasingly competitive, requiring the measurement of performance in order to survive and compete. Therefore, the performance measured in terms of IFRS X from the perspective of growth and learning balanced scorecard. Methods in cross-sectional study was conducted, and data collected in the form of quantitative data obtained by observation and dissemination of data questionnaire. The results showed that from the perspective of growth and learning, the performance of IFRS X has shown good results, judging from the 80.77% level of employee satisfaction, employee productivity levels 93.59% and 42.31% level of employee training.

Balanced Scorecard Analysis Supported by Good Corporate Governance in Evaluating the Performance of Perumda Air Minum Tirta Tuah Benua East Kutai

This study aims to analyze performance from the perspective of Balanced Scorecard supported by Good Corporate Governance in evaluating the performance of Perumda Air Minum Tirta Tuah Benua East Kutai. This study used mixed methods with quantitative descriptive research design. The results showed that (1) The internal business process perspective is good enough but still has to be optimized for water quality testing, (2) The growth and learning perspective shows satisfied results, but the Company still has to increase opportunities and improve employee careers , (3) Financial Perspective, profitability ratio and cash ratio still do not get maximum value because the Company experiences losses due to the absence of water tariff adjustments, (4) Customer perspective, customer satisfaction is good enough, but the Company still has to improve service and service coverage on an ongoing basis, (5) The implementation of Good Corporate Governance is good enough but the Company still has to socialize policies and regulations for the progress of the Company.

A system dynamics approach to the balanced scorecard: a review and dynamic strategy map for operations management

PurposeThis paper aims to (1) identify the different performance drivers (lead indicators) and outcome measures (lag indicators) investigated in the literature concerning the four balanced scorecard (BSC) perspectives in operations management (OM) contexts and (2) understand how performance drivers and outcome measures (and substantiated perspectives) are related.Design/methodology/approachWe undertake a systematic literature review of the BSC literature in OM journals. From the final sample of 40 articles, performance drivers and outcome measures have been identified, and the relationships amongst them have been synthesised according to the system dynamics approach.FindingsFindings show (1) the most relevant performance drivers and outcome measures within each BSC perspective, (2) their relationships, (3) how the perspectives are linked through the performance drivers and outcome measures and (4) how the different measures relate systemically. Accordingly, four causal loops amongst identified measures have been built, which – jointly considered – allowed for the creation of a dynamic strategy map for OM.Originality/valueThis study is the first one that provides a comprehensive and holistic view of how the different performance drivers and outcome measures within and between the four BSC perspectives in OM relate systemically, increasing the knowledge and understanding of scholars and practitioners.

Neuro quantum-inspired decision-making for investor perception in green and conventional bond investments

The purpose of this study is to make a comprehensive analysis of investor perceptions in the context of green and conventional bond investments. For this purpose, a new model is presented by considering two steps. First, a criteria set is generated by considering balanced scorecard perspectives that are finance, customer, organizational effectiveness and learning and growth. After that, the neuro Quantum fuzzy M-SWARA method is considered to weight these criteria. Secondly, seven critical determinants for bond investments are identified that are coupon rates, volume, maturity, riskiness, liquidity, volatility, and tax considerations. Neuro Quantum fuzzy TOPSIS approach is employed to rank these factors. The main contribution of the study is that by combining the balanced scorecard framework and quantum-inspired decision-making techniques, this paper offers a novel and sophisticated decision-making model to understanding investor behavior. Similarly, in the proposed model, a new methodology is generated by the name of M-SWARA. In this framework, some enhancements are adopted to the SWARA technique. The weighting results indicate that meeting customer expectations is the most critical factor that affects the investor perception to make investments to the bonds. Moreover, according to the ranking results, it is concluded that coupon rates are the most important item for both conventional and green bond investors. On the other hand, with respect to the conventional bond investor, tax is the second most essential factor. However, regarding the green bond investors, volatility plays a critical role. AcknowledgmentThis research has been/was/is funded by the Science Committee of the Ministry of Science and Higher Education of the Republic of Kazakhstan (№ AP 19679105 “Transformation of ESG financial instruments in the context of the development of the green economy of the Republic of Kazakhstan”).

BALANCED SCORECARD BASED APPROACH IN MODELING A BUSINESS INTELLIGENCE SYSTEM

This paper is a part of a wider research, the goal of which was to develop a model of strategic school management at the local and regional level in order to effectively manage schools. The proposed model is based on business intelligence, or advanced analytics of business performances that will enable timely, efficient and fair management of school resources, which the state has delegated to local governments.The performance management of schools should be based on financial and nonfinancial performance indicators. The balanced scorecard (BSC) may be a suitable method for that. This paper investigates the possibility of implementing balanced scorecard in the area of school management. The presented BSC model is developed for school management on local and regional level in Croatia. Defined are perspectives of BSC, strategic objectives and perfor-mance measures related to these objectives. The presented model is universally applicable. It is intended for founders - Local and Regional Administration in countries with similar legislation. For the application of the model any founder should enter realized values, master data and the scope of activities for its school system.   

Reckoning the performance of management institutions – A Mamdani fuzzy inference system approach

PurposeThe purpose of this research is to present an integrated methodological framework to aid in performance stewardship of management institutions according to their strategies based on a holistic evaluation encompassing social, economic and environmental dimensions.Design/methodology/approachA Mamdani fuzzy inference system (FIS) approach was adopted to design the quantitative models with respect to balanced scorecard (BSC) perspectives to demonstrate dynamic capability. Individual models were developed for each perspective of BSC using Mamdani FIS. Data was collected from subject matter experts in management education.FindingsThe proposed methodology is able to successfully compute the scores for each perspective. Effective placement, teaching learning process, faculty development and systematic feedback from the stakeholders were found to be the key drivers for revenue generation. The model is validated as the results were well accepted by the head of the institution after implementation.Research limitations/implicationsThe model resulting from this study will assist the institution to cyclically assess its performance, thus enabling continuous improvement. The strategy map provides the causality of the objectives across the four perspectives to aid the practitioners to better strategize. Also this study contributes to the literature of BSC as well to the applications of multi-criteria decision-making (MCDM) techniques.Originality/valueMamdani FIS integrated BSC model is a significant contribution to the academia of management education to quantitatively compute the performance of institutions. This quantified model reduces the ambiguity for practitioners to decide the performance levels for each metric and the priorities of metrics.

CONCEPTUAL MODEL OF INTEGRATION OF BUSINESS FUNCTIONS ON INTERNAL BUSINESS PROCESS PERFORMANCE

The trend of banking performance in the last five years is still fluctuating. One of the root causes is measured from a Balanced Scorecard perspective, namely the not yet optimal integration of business functions in the Internal Business Process. The continuous development of systems, information and communication technology has profound implications for the integration of business functions such as sales and marketing, procurement, finance and accounting, research and development of banking products/services. This study aims to identify, examine and analyze empirical evidence on phenomena that occur in the banking world so that research hypotheses are generated to be studied and tested using quantitative methods in order to obtain dominant variables that influence as the basis for developing a measurable conceptual model.

The implementation of a balanced scorecard perspective to SMEs performance

<p>This paper aims to investigate the impact of implementing the balanced scorecard perspective on the performance of micro, small, and medium enterprises (SMEs) in the F&B, fashion, craft, and services sectors in Central Java and Yogyakarta. A total of 170 respondents participated in the online and offline survey, and after removing incomplete data, 164 observations were analysed. The balanced scorecard perspective, consisting of financial, customer, internal process, and organizational learning and growth perspectives, was used as an independent variable, while performance was used as a dependent variable. The research also included digitalization and control variables such as gender, education sector, and size of SMEs. The results suggest that customer satisfaction and loyalty significantly affect SMEs’ performance and profitability. Testing the implementation of the balanced scorecard across various sectors, the research finds that its effects are not significant in sectors such as fashion, craft, services, and others sectors. The research recommends emphasizing the importance of maintaining a positive relationship with customers to increase revenue and profitability. Though financial and learning variables did not have significant effects, SMEs should still consider them as they may lead to customer satisfaction.</p>

Measuring the integrated reporting quality in Europe: balanced scorecard perspectives

Purpose The aim of this study is to evaluate the adoption and quality of integrated reports in the European Union (EU). Design/methodology/approach The sample consists of 147 listed firms from the 18 EU countries during 2013–2020. This study creates a disclosure index – based on the balanced scorecard (BSC) that reflects the information content of integrated reports. The content analysis method is used to measure the integrated reporting quality (IRQ). Findings The findings demonstrate that the IRQ increased across the study’s time frame, going from 49.3% in 2013 to 77% in 2020. Furthermore, financial disclosures still get the most attention in the integrated reporting (IR), followed by learning and growth perspective disclosures. In addition, businesses in the financial and industrial sectors rely more on integrated reports. However, the utility sector has the highest IRQ score. By country, Spain has the highest rate of IR adoption, followed by France. Other countries, such as Austria and Hungary, have only implemented IR by one company each. Research limitations/implications This study adds to the IR literature a new approach to measure IRQ by linking BSC with the IR framework. Empirically, businesses of any size can use this method to assess the degree of balance between the revealed financial and nonfinancial information in their reports. Practical implications Empirically, this study helps IR practitioners in determining how widely IR is used in Europe and in updating the database on the IR website. It helps them update and improve the IR framework by identifying the elements that have the least transparency and quality, investigating the causes and enhancing them. Originality/value To the best of the authors’ knowledge, this study is the first to examine the IRQ in EU countries by linking the BSC with IR elements. This is to split the elements into their own pillars, making it easier to track disclosure and evaluate the corporations’ interest in revealing these perspectives, on their own and collectively.

Pengukuran Kinerja PT Garuda Indonesia Tbk Berbasis Balanced Scorecard (Performance Measurement of Pt Garuda Indonesia Tbk Based on Balanced Scorecard

This research aims to analyze the application of the balanced scorecard (BSC) method as a benchmark for measuring performance at PT Garuda Indonesia (Persero) Tbk. This research uses a qualitative descriptive method by analyzing data information that can be measured into research indicators based on the four perspectives of the BSC, financial perspective, customer perspective, internal business perspective and growth and learning perspective. Based on the BSC analysis, in 2018-2021 the company's overall performance was not good. The company's condition is getting better in the 2021-2022 period, marked by an increase in profits and a significant increase in the scores of the four BSC perspectives. This indicates that the company's overall performance is improving compared to previous years

Evaluasi Program Penyaluran Dana Zakat, Infaq dan Shadaqah Kepada Pelaku Usaha

The role of the Amil Zakat Institution (Laznas) Berdaya Sejahtera Mandiri (BSM) for the Ummah is to manage the ZIS funds (zakat, infaq, shadaqah) as well as possible and as safely as possible in the form of programs that are beneficial to the people and have sustainable benefit values. The aims of the research are (1) to analyze the program process for channeling ZIS funds to business actors; (2) Analyzing the performance and development of program beneficiary mustahik; and (3) Predicting the development of the ZIS fund distribution program to business actors in the future. The research location was carried out at the BSM Village Program located in three villages, namely Rejosari Village, Lampung, Kedarpan Village, Purbalingga; Jati Village, Trenggalek. The research time spans seven months, from January to July 2022. Data processing uses strengths, weaknesses, opportunities and threats (SWOT)-Balanced Scorecard (BSC). The validity test analysis of the four perspectives shows valid results. Reliability test analysis on the four BSC perspectives is reliable (reliable). The results of the analysis of financial ratios, seen from the ratio of liquidity, solvency and profitability show quite healthy results, namely the program for channeling ZIS funds to business actors is running well, can run their business, and has good performance. The results of the SWOT-BSC analysis provide alternative strategies that can be carried out in the future, namely (1) A financial perspective by strengthening literacy programs and building an integrated service system to increase public trust; (2) Perspective of members by strengthening GCG and HR capacity, as well as socializing work programs to prospective muzakki; (3) Internal business process perspective by increasing internal marketing to BSI customers and standardizing SOPs so that the program runs optimally; (4) The perspective of learning and growth by conducting intensive assistance, as well as creating programs that are in line with the BSI program. The results of the analysis using the QSP matrix show that the priority strategy that can be implemented is to provide intensive assistance so that program beneficiaries become bankable

The Relationship Between Financial Sustainability And The Balanced Scorecard And Its Impact On The Unit Economic

The research aims to provide a theoretical framework for financial sustainability and its importance, as well as to identify the balanced scorecard and its dimensions and to determine the reality of financial sustainability indicators for the research sample through financial and non-financial analysis of those indicators. Develop some indicators for both financial sustainability and balanced scorecard perspectives, and the research reached some conclusions, including financial sustainability represented and that the purpose of financial sustainability is to prepare an integrated work strategy for unit management that contributes to assessing The risks of non-sustainability and the opportunities available to the unit that contribute to making investment decisions, as the economic unit can evaluate the non-financial information and the sustainability information side by side and provide a complete view of the unit’s performance.
  

Modernizing Organizations’ Dynamic Capabilities for Competitiveness: The Balanced Scorecard Perspective

Modernizing Organizations’ Dynamic Capabilities for Competitiveness: The Balanced Scorecard Perspective

A facial expression and expert recommendation fuzzy decision-making approach for sustainable business investments within the metaverse world

Commercial transactions in the metaverse have become more popular in recent years. Sustainable investments are a prerequisite to metaverse survival and growth. There are various factors that have an impact on the performance of sustainable business investments, such as financial analysis and organizational effectiveness. However, each of these improvements leads to increased investment and costs. These new investments may create a heavy financial burden on businesses. In this context, there is a great need to conduct a priority analysis of the criteria affecting these investments in the metaverse. This study uses a balanced scorecard to analyze the alternatives of sustainable business investments in the metaverse. For this purpose, a hybrid quantum spherical fuzzy decision-making approach is proposed by using the facial action coding system and collaborative filtering to measure the weights of the balanced scorecard perspectives with the extended decision-making trial and evaluation laboratory (DEMATEL) and to rank the alternatives of sustainable business investments within the metaverse with the extended technique for order preference by similarity to ideal solution (TOPSIS). The analysis perspectives are finance, customers, internal process, learning, and growth. The alternatives are determined as real estate, commerce, tourism, education, and community development for sustainable virtual investment decisions in the metaverse. The novelty of this study is to construct a new decision-making approach based on facial expressions, expert recommendation systems, and the quantum spherical fuzzy sets, as well as a new concept of sustainable business investments within the metaverse. It has been determined that the organizational effectiveness of the enterprises is very important in realizing sustainability goals and increasing sustainability performance. Similarly, tourism is the most suitable sustainable virtual investment area in the Metaverse universe. Using resources to ensure organizational effectiveness helps businesses reduce energy, water, and raw material consumption. This situation contributes to achieving sustainability targets as it allows the consumption of fewer natural resources.

Using Fuzzy TOPSIS and Balanced Scorecard for Kaizen Evaluation

Abstract Background Kaizen is a very important continuous improvement technique; however, measuring kaizen results/benefits have not been clearly and comprehensively addressed by the literature. Objectives This paper aims to propose a kaizen measuring system by integrating a Balanced Scorecard (BSC) and a Fuzzy Technique for Order Performance by Similarity to Ideal Solution (Fuzzy TOPSIS). Methods/Approach Three research instruments were distributed to kaizen experts to allocate kaizen benefits into the four BSC perspectives. The best measures of kaizen benefits were determined by employing the Fuzzy TOPSIS technique. Results The results present a kaizen performance evaluation system where the benefits were allocated into the four BSC perspectives, and the best measure for each kaizen benefit was chosen using fuzzy TOPSIS. Conclusions The research contributes to the literature by proposing a kaizen measurement system that will pair each benefit of using kaizen with BSC perspectives and measures, thus expanding the advantages of adopting kaizen to any sector or industry.

Evaluation of CSR Implementation and Improvement Strategy Using SWOT Analysis and Balanced Scorecard Perspective (Case Study on Upstream Oil and Gas Production Operations in Pertamina EP Jatibarang Field)

This study aims to evaluate the implementation and provide an overview of strategies to improve social responsibility programs using the balanced scorecard method and SWOT analysis as part of the company's role in sustainable development and social empowerment. This research approach is qualitative. The research location is at PT Pertamina EP Jatibarang Field. Time of research in 2023. Primary data collection techniques through in-depth interviews and secondary data based on company internal data. The data analysis technique uses the balanced scorecard which is a performance management system that combines 4 main measurement categories, namely the public perspective, internal business perspective, financial perspective, and learning & growth perspective, and SWOT analysis. The results of the research show that PT Pertamina EP Jatibarang Field has carried out CSR activities for a long period of time, so it can take advantage of various long experiences in CSR to increase the effectiveness of subsequent CSR programs, then continue practical training programs that are useful for direct implementation by the community/community as a basis for empowerment. Pertamina EP needs to revamp the CSR budget management so that the allocation and supervision are more effective, and it needs to develop the partnerships that have been formed (Elpiji Gas Project for the Environment, Organic Agriculture).

Analyzing intangible assets' impact on electricity sector companies through balanced scorecard and life cycle stages

Companies that develop and provide electricity services play a crucial role in society's economic growth and quality of life. As such, value creation has shifted from tangible to intangible resources, which serve as a source of competitive advantage and value for organizations. However, energy companies typically focus more on their physical and technological products than on the intangible aspects that can ensure their longevity in the market. This article aims to identify the intangible aspects that impact companies operating in the electricity sector. The study was conducted through a literature review of intangible aspects and companies in the electricity sector. The main findings of the research are the identification of 20 intangible aspects within the electricity companies, the categorization and discussion of each intangible aspect based on the four perspectives of the Balanced Scorecard (BSC), and the analysis of the relationship between the intangibles, BSC perspectives, and life cycle stages of energy companies. The findings provide valuable insights for energy company managers to incorporate intangible asset management into their day-to-day activities and to focus on the most crucial intangible aspects depending on their business's current stage in the life cycle.

Perancangan Balanced Scorecard Sebagai Alat Penentuan Strategi

This study aims to analyze the main strategies that must be developed, analyze strategic objectives, analyze performance measures and recommend managerial implications of the Non-Tax State Budget Subdivision of the Finance Department of the University of Palangka Raya based on the Balance Scorecard perspective. The results of environmental analysis using descriptive analysis, evaluation of internal factors, evaluation of external factors, and the internal-external matrix selected an intensive product development strategy as the main strategy for the Non PNPB Subdivision of the University of Palangka Raya. The results of the research at a later stage note that the customer perspective (0.573) is the most important perspective of the four Balanced Scorecard perspectives in product development strategy, while the strategic objective of "Increasing welfare" is the most important strategic objective of all existing strategic objectives. The last stage in the research process resulted in weighting for 19 Key Performance Indicators, strategic initiatives and managerial implications which became technical recommendations for the Non-PNPB Subdivision of the University of Palangka Raya.