Balanced Scorecard Strategy Map Research Articles

Implementation of The Balanced Scorecard Method in Determining Performance Measures in Higher Education Institutions (Case Study: ITB Swadharma)

To compete in higher education, ITB Swadharma needs to enhance its competence by designing and implementing effective strategies in managing higher education that align with its vision and mission. The success of management strategy can be achieved through a comprehensive evaluation of ITB Swadharma's management effectiveness. The Balanced Scorecard method and the interaction between ITB Swadharma's management and the PMB entity's management can be used to create a Balanced Scorecard strategy map. This map involves three strategic objectives from the perspective of development and advancement of learning, three strategic objectives from the perspective of internal business process efficiency, four strategic objectives from a customer satisfaction perspective, and two strategic objectives from the perspective of financial stability. To achieve these two strategic objectives in terms of financial aspects, a lagging indicator is required. Each strategic objective from the customer perspective requires actions. Strategic Objective 1 from the internal business process perspective requires 5 measurements, Strategic Objective 2 requires 3 measurements, and Strategic Objective 3 requires 3 measurements. Meanwhile, from the perspective of learning and growth, Strategic Objective 1 requires 1 measurement, Strategic Objective 2 requires 3 measurements, and Strategic Objective 3 requires 1 lagging indicator measurement and 1 leading indicator measurement.

Penerapan Peta Strategi dan Balance Scorecard untuk Meningkatkan Kinerja Manajemen (Studi Kasus pada Rumah Sakit Khusus Jiwa Soeprapto Provinsi Bengkulu)

The COVID-19 pandemic has brought about a marked slowdown in global economic development. Institutions must adopt new managerial guidelines to adapt to the difficult conditions of the current pandemic, including in the service sector, namely hospitals. The occurrence of an increase in patients at the Bengkulu Province Mental Special Hospital became the background of this study. Improved managerial performance in hospitals is assisted by the implementation of strategy maps and balanced scorecards. This study aims to find out how to implement a strategic map that includes vision, mission and goals as well as four perspectives of a balanced scorecard containing finance, customers, internal business processes and learning growth which are analyzed using SWOT analysis to improve the management performance of the Bengkulu Province Mental Hospital. This study used a qualitative approach by collecting secondary data and primary data by interviewing four informants who participated in managing and implementing the hospital's strategy map and balanced scorecard.Based on the research that has been done at Soeprapto Mental Hospital Bengkulu and analyzed, it can be concluded that the strategy map is of good value because it is able to realize and link the vision, mission and goals of Soeprapto Mental Hospital Bengkulu. The balance scorecard is of good value because it is able to explain the positive relationship between the strategy map and the four perspectives of the balanced scorecard. SWOT analysis as a method of measuring the balance scorecard is of good value because it is able to analyze strengths, weaknesses, threats and opportunities that can occur next. In conclusion, the strategy map and balanced scorecard to improve management performance are of good value because they are able to explain the interrelationships between variables and describe the SWOT matrix and the balanced scorecard strategy map matrix to improve management performance.

Modeling of Strategic Alignment to Modify TOGAF Architecture Development Method Based on Business Strategy Model

Strategic alignment is generally seen as an important driver for optimizing business performance. Strategic alignment is aligning internal resource capabilities and external opportunities for superior performance. To realize the suitability of Business and IT strategies, a framework is needed, namely Enterprise Architecture (EA). One of the frameworks for EA is The Open Group Architecture Framework (TOGAF). TOGAF is a method for developing and managing the Enterprise Architecture life cycle called Architectural Development Method (ADM). This ADM integrates elements of the TOGAF standard in responding to the organization's business, and IT needs. In this paper, researchers will contribute to formulating a strategic alignment model to modify the existing strategic alignment in TOGAF ADM based on the business strategy model. In this business model strategy, there are two things: the analysis of business strategy choices and the Balanced Score Card (BSC) strategy map. Analysis of business strategy choices uses SWOT analysis as a business strategy determination based on internal and external business environment analysis. Second, the BSC strategy map is a process of mapping business strategies into the BSC strategy map, which includes four perspectives: financial, customer, internal business processes, and learning and growth perspectives. This model was tested at the Universitas Dinamika, and the results have a good alignment rate of 95%. For further research, this model can be tested in various organizations, such as universities and public and private organizations.

Case Studies of Value Creation on Integrated Reporting in Japan

How to visualize the value creation process is a major issue in integrated reporting. If a strategy map of Balanced Scorecard (BSC) is used, value creation and suppression of value loss can be visualized separately according to the strategic theme. The value creation process can be visualized by distinguishing between strategic themes in business strategy and strategic themes solving social issues. However, there is an issue in that companies that have not adopted the BSC cannot use strategy maps. For this reason, how to visualize the value creation process is a highly interesting topic to investigate. The International Integrated Reporting Council's IIRC framework (2013b) mainly focuses on information disclosure to financial capital providers, and visualization of the value creation process focuses on value creation through business strategy. At the sametime, an IIRC discussion paper (IIRC, 2011) contained a proposal that also focused on suppression of value loss to stakeholders by solving social issues.

Balanced Scorecard: Learning and Growth Perspective

The purpose of the research is to find an empirical evidence concerning the implementation of learning and growth perspective of Balanced Scorecard (BSC) in Assalaam Islamic Modern Boarding School Surakarta (AIMBSS) and to find factors supporting and being handicap of implementation of learning and growth perspective of BSC. The research will widen the object scope being able to be approached by BSC. It is a case study research. Qualitative research design is conducted using semi-structured interviews with 12 respondents from different stakeholders. Research findings showed that principally learning and growth perspective of BSC and attributes in strategy map of BSC have been implemented well in some levels of management in AIMBSS. Besides, the research found supporting factors of implementation of learning and growth perspective of BSC in AIMBSS, namely: strong commitment from management to adapt the change and most of employees are ready to adjust themselves with the change. Meanwhile, handicapped factor of implementation of learning and growth perspective of BSC in AIMBSS is resistant from certain employees. It causes the effectivity of system. For future research, it is suggested to add the number of research object so that the generalization of the research findings can be gained.

BALANCED SCORECARD: FOKUS PADA PERSPEKTIF PELANGGAN

The aim of the research is to find an empirical evidence concerning the implementation of customer perspective of Balanced Scorecard (BSC) in Assalaam Islamic Modern Boarding School Surakarta (AIMBS Surakarta). It is a case study research. Qualitative research design is conducted using semi-structured interviews with 27 members from different stakeholders. Research findings showed that customer perspective of BSC and attributes in strategy map of BSC have been implemented well in AIMBS Surakarta. Besides, the research found supporting factor of implementation of customer perspective of BSC in AIMBS Surakarta, namely: strong commitment from management to adjust the change. The limitation of the research is that the research findings can not be generalized. For future research, it is suggested that the researcher will add the numbers of research object so that the generalization of the research findings can be achieved. Thus, it will give clearer description about implementation of customers perpective of BSC in Islamic boarding schools

Improving integrated reporting

PurposeThe purpose of this paper is to present a new learning and growth perspective for the balanced scorecard (BSC) that includes more specific measures of integrated thinking and value creation to help improve integrated reporting (<IR>). Practical, relevant definitions of these historically vague concepts may improve intangible asset disclosures (IAD) and increase uptake of the<IR> framework.Design/methodology/approachThe paper is conceptual. The authors use organisational learning to theorise about the learning and growth perspective of the BSC, within the context of the practice of IAD.FindingsSeveral criticisms of IAD, the<IR>framework and the BSC have acted as barriers to implementing the<IR>framework. The improved version of the BSC’s learning and growth perspective, presented in this paper, addresses those criticisms by redefining the concept of integrated thinking (learning) and more fully connecting that learning to future value creation (growth). The model is designed to be used in tandem with the<IR>framework to operationalise integrated thinking. A new BSC strategy map illustrates how this revised learning and growth perspective interacts with the other three BSC perspectives to create long-term shareholder value through the management and growth of knowledge within an organisation.Research limitations/implicationsOrganisational learning is an important source of competitive advantage in the modern knowledge economy. Here, the authors encourage further debate on how to report and disclose information on intangible assets, driven by a new conceptual strategy for organisational learning that fully supports the BSC’s capacity to help integrated thinking and future value creation for the<IR>framework.Practical implicationsFrom its roots as a performance measurement system, the BSC has become a widely used strategy execution tool. The<IR>framework has struggled to gain traction, but still has value in exploring intangible assets and its disclosure from a systems thinking perspective. The model is designed to bring an explicit understanding of how to improve integrated thinking for the<IR>framework facilitating better measurement, management and reporting of human and structural capital. By doing so, the new model enables a firm to use the BSC to engage with<IR>more effectively, which should also be useful for practitioners given the widespread use of the BSC.Originality/valueThe analysis of the BSC’s learning and growth perspective reveals two dichotomies – one between resources and growth, and another between systems and capability. The revised perspective resolves these dichotomies with clear, forward-focused measures of learning and intangible asset growth, and multiple vertical and horizontal connections between the perspective’s four constructs. The authors demonstrate practical paths to value creation through a range of strategic impacts.

Development of Performance Indicators Relationships on Sustainable Healthcare Supply Chain Performance Measurement Using Balanced Scorecard and DEMATEL

Sustainable healthcare supply chain performance measurement (SHSCPM) concept is still less developed. Globalization and pressure from stakeholder demand the operation of the supply chain to give attention to the environment effect, community, economic and intangibility assets. SHSCPM is feasibly developed for measuring the performance of simultaneous sustainability aspects and intangibility assets to meet customer satisfaction. This article discusses SHSCPM based on the balanced scorecard (BSC) with attention to the sustainability aspects, intangibility assets and relationships between the performance of perspectives and indicators. The perspectives and indicators of performance were identified by literature and the confirmed and validated by the survey to 7 expert respondents. We found 5 perspectives and 39 indicators from literature which were then confirmed to expert through a survey with an in-depth interview. From a survey that validated with a weighted average (WA) and level of consensus (LC), we found 31 valid indicators. Finally, 29 indicators from DEMATEL process were selected to be used on SHSCPM. The DEMATEL process found 2 indicators aren’t important and influence for other, namely inventory cost and regulations and laws. Besides, the four results on this study: intangibility indicators incorporated on innovation and growth were most affect to other indicators which the intangibility indicators were related with human resource, indicators on customer perspective were most important compared to other indicators, indicators on economic aspect were most important compared indicators on environmental and social aspects, and indicators on social aspect were not affected by other indicators. After that, human resource and customer were main factors for SHSCPM. Finally, relationships between perspectives and indicators used to design of BSC strategy map.

A proposal of a Balanced Scorecard for an environmental education program at universities

By developing and implementing environmental concerns in its principles and infrastructure, universities are becoming increasingly active in promoting societal changes towards sustainable development. These environmental concerns are translated into comprehensive and transversal environmental education programs aimed at building capacities and promoting awareness not only for students but also to the surrounding communities. This paper aims to develop a Balanced Scorecard strategy map for implementing and monitoring environmental education programs in universities. To accomplish this objective, we conducted a literature review on environmental education in higher education, finding 10 primary indicators and 40 sub-indicators needed to implement environmental education programs in universities. Fifteen experts in sustainability research were asked to evaluate these indicators and sub-indicators. Then, those indicators and expert evaluations were used to build a decision tree that supports the Balanced Scorecard. Based on our findings, we created and adapted a strategy map for environmental education based on five dimensions: sustainable development; environmental education; teaching processes and environmental management; learning and environmental growth; and economic and financial responsibility. The main contribution of this paper is to propose a theoretical proposal that can serve as a guide to implement and monitor environmental education programs in universities.

BALANCED SCORECARD: PENTINGNYA PERSPEKTIF PROSES BISNIS INTERNAL STUDI EMPIRIS DI PONPES

The purpose of this research is to find an empirical evidence of implementation of internal business process perspective of Balanced Scorecard (BSC) in Assalaam Islamic Modern Boarding School Surakarta (AIMBS Surakarta). The research is case study. Qualitative research design is conducted using semi-structured interviews with 21 members from different stakeholders. The research findings showed that internal business process perspective of BSC and attributes in strategy map of BSC have been implemented well in AIMBS Surakarta. Besides, the research also found supporting factor of implementation of internal business process perspective of BSC in AIMBS Surakarta, namely: strong commitment from top management to adjust the change dan to improve the service to the stakeholders. The limitation of the research is that the research findings can not be generalized because of case study. For future research, the researcher can add the numbers of research object so that the generalization of research findings can be gained. Theoretically, it will give clearer description about the implementation of internal business processperspective of BSC in Islamic boarding schools.

Causal linkages between supply chain management practices and performance

Purpose – Today, supply chain design and management constitute a major source of competitive advantage for firms. The purpose of this paper is to empirically investigate, from a balanced scorecard strategy map (BSSM) perspective, the types of linkages through which supply chain management practices (SCMPs) impact on financial and non-financial performance, and consequently lead to the achievement of the firm’s strategic objectives. Design/methodology/approach – This study is carried out in two stages. First, based on the survey data collected from 450 French industrial firms (with a return rate of 20.2 per cent), structural equation modelling (SEM) is used to test eight hypotheses that are formulated through the discussion of previous theoretical and empirical findings in extant literature. Then, based on the framework of the BSSM, the SEM results are used to discuss the linkages between SCMPs and firm performance. Findings – After confirming some of the relationships already observed in extant literature, the results show that there are many strategic paths (of different nature) that link SCMPs and other intangible assets to financial performance. Practical implications – The results of the study constitute a practical contribution that would guide managers in the strategic alignment of their firm’s supply chain initiatives with corporate strategy. The authors argue that when implementing supply chain management initiatives, managers should pay particular attention to how intangible assets act as mediating factors in the achievement of the firm’s financial objectives. The BSC framework that the authors propose can also be used by researchers to investigate causal linkages between intangible and tangible assets. Originality/value – There are few studies that adopt an extensive multidimensional approach by looking simultaneously at both upstream and downstream linkages of the supply chain whilst taking into account many performance measures. Using the BSSM framework, this paper proposes eight types of linkages that could lead to the achievement of the firm’s strategic goals.

The 4E-Oriented Performance Evaluation of Public Traffic Based on BSC

Under the background of rapid urbanization development in our country, public transportation tends to the development of high speed and comprehensive type. It becomes a major issue how to build the people's satisfaction public transportation. More and more cities pay more attention to the performance evaluation of the traffic system. The paper draws the balanced scorecard strategy map of the public traffic and establishes the index evaluation system based on 4E from citizen dimension, finance dimension, internal operation and safety dimension, learning and growth dimension. Then information entropy theory and AHP are adopted to calculate the weight of each index.

In search of academic excellence with the strategy map: analysis of an Italian case study

Notwithstanding a growing interest in performance management systems for universities, little is known about their application to academic departments, public institutions dedicated to research. The purpose of the paper is the exploration of a specific performance measurement model – the balanced scorecard strategy map – which is suitable for the particular features of an academic department. The paper uses a qualitative methodology to identify the dimensions of the performance measurement and proposes a set of goals and measures. The paper extends the customer perspective by considering a wider system of stakeholders and emphasises the strategic role of the financial dimension as a driver for achieving the mission.

The Benefits Management and Balanced Scorecard Strategy Map

We are living in a period of enormous technological transformations and the organizations face new opportunities that the systems and information technology (IS/IT) implementations provide with the hope that these investments will help to increase productivity and business prosperity, meanwhile, several studies performed in public and private sectors have proven that the investments done in IS/IT have not brought the expected benefits. Some authors argue that the result of the studies that related investments in IS/IT and the increasing performance of the organizations in the last thirty years were far from true. In this paper the authors propose a link between the Benefits Dependency Network, from a Benefits Management approach, and a Strategy Map, from Balanced Scorecard, to improve the management of business benefits and to ensure that actions taken along the investment life-cycle lead to foreseen benefits realization. The goal of this integration is to build a framework that combines useful features of both methods. The authors sustain that they can be complementary. As a Strategy Map is committed with strategic alignment, communication and monitoring of strategy execution at all levels of an organization, a Benefits Dependency Network is aimed at explaining how benefits are going to be obtained through organizational change. Using the results of a case-study research, the authors explain how a Strategy Map can cross with the Benefits Dependency Network. The integrated contribution is meant to increase the investments effectiveness, giving to stakeholders the confidence on a clearer delivery path for their expected benefits.

The alignment of managers’ mental models with the balanced scorecard strategy map

This study examines the alignment of managers’ mental models with the strategy map provided by the balanced scorecard (BSC). By applying the cognitive maps technique to the managers of a printing firm, this work uses the distance ratio method to analyse managers’ different perceptions of the firm's resources and capabilities, as defined in the BSC. The results show a high degree of alignment between the individual manager’s mental models and of these mental models with the strategy map. The results also suggest that the strategy map act as a reference point for the convergence of mental models, highlighting the role of alignment. In conclusion, we can deduce that implementing the BSC strategy map help to reduce managers’ causal ambiguity with regard to the objectives they need to pursue in order to improve a firm's competitive position.

Intangible asset management framework: an empirical evidence

PurposeThe purpose of this paper is to explore the interrelationships of intangible assets to business performance. The paper reports an empirical evidence for the impact of three elements of intangible assets: learning and growth, internal business process, and external structure on the business performance of the firm. The linkages between intangible asset elements and business performance are investigated in companies of various business sizes, business sectors and establishment ages.Design/methodology/approachThe proposed model was adapted from the balanced scorecard strategy map. The primary data for analyzing and investigating the interrelationships between intangible assets and business performance were gathered by subjective opinion survey questionnaire. In all, 3,084 questionnaires were distributed to the top management. The numbers of qualified responses were 304 and the data were analyzed using the structural equation modeling technique.FindingsThe commonly assumed causal relationships are confirmed, i.e. the element of learning and growth has influence on internal business process, the element of internal process has effect on external structure, and the element of external structure, in turn, has effect on business performance.Originality/valueFollowing the research findings, top management in companies of different sizes, business sectors, and establishment ages should understand the nature of interrelationships and recognize the importance of intangible assets. These findings will enable top management to realize the impact of intangible asset elements on business performance so that long‐term strategies for effective intangible asset management may be emphasized for sustainable competitive advantage of the firm.

Strategic Performance Measurement and Value Drivers: Evidence from International Tourist Hotels in an Emerging Economy

In recent years, since the hospitality industry and the number of international tourist hotels have grown rapidly in China, the issue of how to assess the service quality and performance of hotels became more important than ever. This study developed an integrated theoretical model to investigate the influence of the balanced scorecard (BSC) on the hospitality industry in China, and to examine the relationships among the performance perspectives. Structural equation modelling (SEM) was used to empirically examine the model. In the first stage, the LISREL model was employed to investigate the causality and associations among the performance measures of the balanced scorecard. In the second stage, a number of tourist development strategies and the strategy map of BSC were introduced. Current balanced scorecard literature suggests that there should be a linkage between non-financial performance perspectives and financial performance measures. This paper examined the descriptive validity of the balanced scorecard as a causal model of measures of non-financial and financial performance.

Balanced Scorecards to Drive the Strategic Planning of Family Firms

The focus of this research is the measurement and management tool known as the Balanced Scorecard (BSC) and how it can be applied in the family business context. In this article we add familiness to the four BSC perspectives (financial, innovation and learning, customer, internal process ) and illustrate how this can assist business development, management, and succession planning in family-owned businesses. We use an action research project to highlight how family businesses can professionalize their management by the adoption of a BSC strategy map that includes a family business focus and links the core essence of the family business with the values and the vision of the founder to the strategic initiatives of the family business. The F-PEC Scale constructs of power , experience , and culture are used to introduce a PEC statement that identifies and articulates the core essence of the family business. Finally, we discuss potential contributions that this project has for family businesses and those who work with and for them.