Implementation Of Balanced Scorecard Research Articles

Implementation of Balanced Scorecard to Achieve The Company's Strategic Objectives

The company's strategic objectives play a vital role in directing the company towards the desired achievement and planning the steps to achieve it. Clarity of corporate objectives supported by commitment to them can lead to significant performance improvements, in contrast to providing objectives that are vague or too general. The process of achieving these goals involves monitoring through performance measurement. One effective performance measurement method is using the Balanced Scorecard, which combines financial and non-financial aspects of the company. The purpose of this study is to analyze the application of the Balanced Scorecard to achieve the company's strategic goals. The research method used is qualitative, with data collection techniques through literature studies. The collected data were then analyzed through three stages, namely data reduction, data presentation, and conclusion drawing. The results showed that the use of Balanced Scorecard (BSC) can effectively assist the company in achieving its strategic goals. Good linkages between financial, customer, internal business, and growth and learning perspectives can produce optimal performance both in terms of financial and non-financial aspects for the company. The BSC approach focused on improving company performance not only encourages improvement in financial aspects, but also becomes the basis for evaluating the company's strategy to achieve continuous improvement.

Strategic alignment in multispecialty hospitals: Implementing a balanced scorecard approach for optimal performance

The study investigates the relationship between strategic alignment, balanced scorecard (BSC) implementation, and optimal performance (OP) in multispecialty hospitals. Data from 530 healthcare professionals in Lucknow, Varanasi, Kanpur, and Prayagraj were collected using a cross-sectional design. Descriptive statistics, correlation analysis, and regression analysis were employed for data analysis. The results demonstrate significant positive relationships between strategic alignment, balanced scorecard, and optimal performance. Both strategic alignment and balanced scorecards were identified as significant predictors of optimal performance, indicating that higher scores in these constructs are associated with higher levels of performance. The findings underscore the critical role of strategic alignment and performance measurement frameworks in enhancing organizational performance in healthcare settings. However, the study faces limitations, including reliance on self-reported data and limited generalizability to other healthcare settings and regions. Future research should explore longitudinal or experimental designs and incorporate objective performance measures to enhance the validity and generalizability of the findings. Overall, the study contributes to understanding strategic management practices in healthcare organizations and highlights avenues for further research in this area.

Balanced Scorecard for Circular Economy: A Methodology for Sustainable Organizational Transformation

The integration of circular economy (CE) principles within organizational strategies has become imperative for companies committed to sustainability and resource efficiency. This study explores the adoption of CE principles and the role of the balanced scorecard (BSC) as a facilitative tool. By contextualizing the significance of CE adoption, this paper reviews existing BSC models that incorporate sustainability aspects and evaluates software solutions for BSC implementation. Subsequently, a novel methodological framework was proposed. As a novelty, the strategic analysis included the use of a SWOT analysis. Once the situation was identified, BS 8001:2017 was used to define strategic objectives oriented towards the principles of a CE. Moreover, the proposed objectives were prioritized using the analytic network process tool. After completing the organizational and strategic analyses, the UNE 66175:2003 norm was incorporated to decide on the most appropriate indicators for each objective. Finally, to illustrate the proposed framework, a theoretical detailed case study was developed within the context of an industry specializing in the design and manufacturing of plastic packaging. The developed BSC was implemented using the selected software. This study demonstrated the convenience of establishing a methodology to guide decision making in the development and monitoring of the BSC.

The impact of balanced scorecard mediation in the relationship of perceived environmental uncertainty, business strategy, and organizational performance

This research adopts a contingency theory approach to explore the role of the Balanced Scorecard (BSC) as a performance management system. Contingencies, including perceived environmental uncertainty and business strategy, are examined to understand their impact on BSC implementation and organizational performance, with a specific focus on the mediating role of the BSC. Conducting a survey among Jordanian manufacturers, the research gathered 312 usable responses out of 400 questionnaires, achieving a response rate of 78%. Theoretically, this study's framework contributed to management accounting literature by analyzing the impact of perceived environmental uncertainty and business strategy on BSC implementation. The study's findings will help understand the factors that could influence Jordanian manufacturing companies' BSC implementation. This study will also help businesses understand why they need to use BSC to get the right information for making decisions and improve the performance of their organizations.

The Impact of Digital Banking Adoption, Risk Management and Balanced Scorecard on Indonesian Banking Performance – A Conceptual Paper

Research aim: This research explores the impact of three independent variables, namely digital banking adoption, risk management and balanced scorecard implementation, on bank performance as the dependent variable. Design/ Methodology/ Approach: This paper is a conceptual paper. Previous studies have been extensively focused on ascertaining the determinants of bank performance. Despite the large body of literature in this respect, this article focuses on the role of balanced scorecard implementation in the banking industry. The balanced scorecard’s mediating role is deemed crucial, especially in the banking industry, which is more exposed to the digital and technological revolution. Accordingly, the paper proposes a performance model for banks and financial institutions which combines these determinants. Research finding: The current debate prevalent among researchers and practitioners, as denoted in the literature, is centred on the central argument of how banks can maximise their full potential. This research suggests that the banks’ management employs the following three measures: digital banking adoption, risk management and balanced scorecard implementation as the performance model. In the quest to further improve organisational performance, previous literature lauded balanced scores as a useful management tool. Specifically, the balanced scorecard serves as a strategic planning and performance management tool that utilises financial and non-financial assessments in determining an organisation’s administration, management and operational effectiveness. Practitioner/Policy implication: This study enriches the current state of knowledge in the literature by extending the current understanding of bank performance, especially in relation to digital banking adoption, where the issue of technological and digital matters play a profound role in the banking industry globally due to the rapid advancement in technology. With respect to practical implications, the findings in this study are relatable to the practitioners in the banking industry, whereby the performance model in the study is proposed to offer the ways in which the performance of their respective financial institutions can be improved. Research limitation: In this regard, it is hoped that the paper will shed light on understanding this matter further, especially the role of the balanced scorecard. Specifically, the paper suggests that the balanced scorecard implementation acts as the mediating role that fosters the relationship between digital banking implementation and bank performance. In addition, the balanced scorecard implementation also acts as the factor that mediates the relationship between risk management and bank performance.

Port Authority of Cartagena: Evidence of a Sustainability Balanced Scorecard

AbstractThis paper provides a deeper understanding to the development and implementation of a Sustainability Balanced Scorecard in the Port Authority of Cartagena, under exploratory research. Open‐access documents available on different websites were used as data sources combined with semi‐structured personal interviews, which took place at the highest level of the organisation from September 2021 to December 2022. The strategy developed by this government unit has changed over the years, until 2018 when a new review, led by the Planning and Management manager, established a turning point in its sustainable strategy with the introduction of the Balanced Scorecard, resulting in a major internal change for the organisation. The creation of the Strategy Planning Office, external advice from strategy‐expertise consultants, IT solutions acquisition adapted to the new scenario, and several internal organisational changes, have been vital in this successful process. The Balanced Scorecard has been shown to be helpful in disseminating the sustainable strategy at all levels of the company: environmental and social actions were confined for years to the Sustainability Department, functioning as isolated actions, but now, they have reached the strategic level involving the whole organisation as part of the company's strategy. This successful process has put this organisation at the forefront of other Spanish ports, providing other port authority managers with a useful framework that can help them in their attempt to implement sustainable strategies by using the Balanced Scorecard—a framework not only valid for ports but which can also be extended to other government units.

Design of Balanced Scorecard as a School’s Performance Measurement

For schools as educational institutions, it is essential to identify their conditions and determine the right strategy for their sustainability. The research aimed to design the Balanced Scorecard (BSC) as a performance measurement tool at Sekolah XYZ. The research applied a qualitative method with Simple Research Design (SRD) as an analytical model. For data analysis, the research applied the stages of preparation in BSC. The primary data collection method was conducted through interviews with five key informants. The measurement indicators consisted of five indicators from a financial perspective (weight: 25%), three indicators from a customer perspective (weight: 25%), nine indicators from an internal business process perspective (weight: 30%), and five measurement indicators from the learning and growth perspective (weight: 20%). In addition, the BSC design was equipped with a validation system and an evaluation system to support the BSC implementation at Sekolah XYZ. The results show that based on the vision and mission of the organization, there are 12 objective strategies to be achieved, with 22 measurement indicators that are appropriately implemented at Sekolah XYZs. The BSC at Sekolah XYZ is necessary to be designed so its management can easily trace and find the causes of the school’s success or failure. The results of the BSC design at Sekolah XYZ can be used as recommendations for other schools that want to implement BSC, with adjustments according to the conditions of each school.

Barriers to Balanced Scorecard Implementation in the Digitalization Era

Barriers to Balanced Scorecard Implementation in the Digitalization Era

What Do We Know About Balanced Scorecard and Its Benefit? A Systematic Literature Review

This study aims to systematize articles on Balanced Scorecard (BSC) and the benefit of its adoption in various organizations and business entities. Using a systematic literature review, this study reviews 60 articles published in international reputable journals between 2003 and 2022. The articles were found using keywords such as ‘balanced scorecard’, ‘BSC’, and ‘BSC implementation’ in the Emerald, Elsevier, Sage Journals, and Scopus databases. The search was restricted by the language and scope of the research. The results show that BSC facilitates the improvement of organization performance, the achievement of organizational goals and vision, the outlining of strategies into action, the measurement of performance, the management of risk and the decision-making process.

Impact of Balanced Scorecard implementation on company performance of PRC listed companies in the healthcare industry

The Balanced Scorecard (BSC) is a performance measurement management control tool model that can play a critical role in driving companies to achieve sustainable performance in the healthcare industry. In the previous studies, BSC advocates that the sustainable growth of business relies on a management balance focused on financial and non-financial aspects. This study uses the BSC model to examine the core business strategies, namely the duration of CEO tenure, the spending patterns between marketing and Research & Development (R&D) and human resources capability expressed in employee size in the healthcare industry in China. The research used a sample of 305 public-listed healthcare companies in PRC China with data collected for 2016–2019 from the China Stock Market & Accounting Research Database (CSMARD). The data was analyzed by SmartPLS version 3.3.6. This study has three essential findings. First, R&D investment has a negative quadratic impact on marketing expenses. Second, marketing expenses are a mediator between R&D investment and company performance. The last finding is that CEO tenure has a moderating effect on employee size in the company. These findings add to the literature on mediation studies in leadership and management. This study provides insights into mapping BSC as an international management assessment tool, indicating potential research opportunities and highlighting managerial implications.

An Investigation On The Supporting And Inhibiting Factors In The Implementation Of Balanced Scorecard As A Performance Measuring Tool At The SSB Primary Taxes Office

Although the balanced scorecard has existed in Indonesia for more than a decade, there exists still relative limited research on how the process, challenges, or results of implementing the balanced scorecard in the public sector, especially at the operational level. This study aims to understand the factors supporting and inhibiting the implementation of the balanced scorecard in the SSB Primary Tax Office (KPP SSB). This study uses a qualitative method with a case study approach. Sources of data come from interviews and the results of literature studies on related documents and regulations. This study found 4 (four) factors supporting success namely officers/employees’ participation, the roles of the superior, communication/cooperation, and facilities and infrastructure. It is also found 5 (five) inhibiting factors for implementing the balanced scorecard namely constraints around the key performance indicator (KPI), not-supportive-yet computer systems/applications, non-KPI assignments, difficulties in finding the replacement of employees, and the existence of joint/shared KPI.

Implementation of Balanced Scorecard in Corporate Strategic Management

This study looks into how the Balanced Scorecard (BSC) was implemented in a West Javan manufacturing company and how it affected strategic management and organizational performance. A mixed-methods approach was used, integrating quantitative data obtained from surveys and performance measures with qualitative data from in-depth interviews and document analysis. The qualitative results draw attention to the intricate implementation process, which includes communication tactics, strategic goal-setting, and ongoing modification. Difficulties were noted, including resistance to change and worries about an increase in workload. Positive employee attitudes, greater alignment with company goals, and advancements in financial and operational measures are all indicated by the quantitative outcomes. The study offers insightful information to companies thinking about implementing BSC, highlighting the significance of open communication, staff involvement, and ongoing adaption for success.

HSD31 Analysis of the Balanced Scorecard's Managerial Subdimensions in Health Care Organizations During the COVID-19 Pandemic

We intended to review all the managerial subdimensions used in balanced scorecard (BSC) implementations and then to assess the impact of the pandemic on the managerial subdimensions of health care organizations (HCOs). We performed a systematic review in accordance with PRISMA guidelines to find all internal key performance indicators (KPIs) used in BSC implementations from the time of inception until October 2020 in PubMed, Embase, Cochrane, Google Scholar databases, and Google's search engine. Second, we searched for independent studies using the resulting managerial subdimensions with the COVID-19 keyword in Google engine and Google Scholar until June 2021. Out of 4031 studies, 36 implementations remained. From these, 72 managerial KPIs were extracted. Categorizing KPIs resulted in 4 subdimensions: planning and targets, standards and regulations, internal assessment, and external assessment. Hospitals utilized some of these subdimensions’ KPIs to perform planning and internal assessment of their performance. The CDC developed a checklist to help hospitals assess and improve their preparedness for responding to COVID-19. However, insufficient standardization of quality measurement approaches in the COVID-19 era was perceived, which disrupted the comparison and understanding of health systems’ optimal performance. The lack of standardization and conflicting or irrational managerial decisions were deemed dissatisfactory factors for health care workers in the pandemic. Moreover, few studies have examined centralized governance's impact on HCOs during the pandemic, which positively affected reactive strategies. Learning from past pandemics was suggested to may positively influences proactive and reactive strategies. However, the role of internal assessment, such as BSC and total quality management tools, or external assessments, such as Joint Commission International accreditations, certification, auditing, or peer review on HCOs during the pandemic, still requires more investigation. Future research to improve the performance of the managerial subdimensions during the pandemic, as well as a comprehensive assessment for HCOs is still needed.

Engaging patients in balanced scorecard evaluation - An implication at Palestinian hospitals and recommendations for policy makers.

A balanced scorecard (BSC) is a comprehensive performance evaluation (PE) tool. A recent review summarized that a balanced consideration of PE from six perspectives in hospitals must be considered: financial, customer, internal, external, knowledge and growth, and managerial. However, patients were rarely engaged in BSC implementations. This research aims to engage Palestinian patients in BSC implementation to develop recommendations for policy makers. In this cross-sectional study, the BSC-PATIENT survey was distributed between January and October 2021. We evaluated patients' experiences and their attitudes toward BSC dimensions (BSCP ATT). The differences in evaluations based on admission status were analyzed using the Mann-Whitney U test. Causal relationships between patients' experiences and attitudes were analyzed using multiple linear regression. We tested the multicollinearity of the model. Path analysis was performed to understand the BSC strategic maps based on the Palestinian patients' evaluations. Out of 1,000 surveys, 740 were retrieved. The mean scores for Palestinian patient experiences evaluation showed that the services experience factor had the highest score (87.7 ± 17.7), and the patient care experience factor had the lowest score (57 ± 34.5). Patient experiences collectively predicted 56.4% of the variance in the BSCP ATT. The experience factors of information (β = 0.400, t = 13.543, P < 0.001), patient care (β = 0.241, t = 8.061, P < 0.001), services (β = 0.176, t = 6.497, P < 0.001), and building (β = 0.177, t = 6.308, P < 0.001) had the highest impact on BSCP ATT. The price had only a weak negative influence (β = -0.051, t = -2.040, P = 0.042). Accessibility to hospitals did not have any impact on BSCP ATT. Significant differences between inpatient and outpatients' evaluations in regard to experiences related to patient care (P = 0.042), services (P < 0.001), accessibility (P < 0.001), and BSCP ATT (P = 0.003) were found. BSC-PATIENT successfully engaged patients in BSC PE at Palestinian hospitals. This research provides strong evidence for the impact of patients' information experience on their attitudes. Palestinian health policy makers must prioritize the design and delivery of patient education programs into their action plans and encourage a two-way information communication with patients. Strong evidence for patient care, services, and building experiences role in improving patients' attitudes was found. Managers should enhance patients' feedback and engagement culture in Palestinian hospitals.

Design and Implementation of Balanced Scorecard for Maintenance Department at Hajj Terminal, King Abdulaziz Airport

This report is about the design and implementation of a PAX system, PAX system is a Balance Scorecard (BSC) for maintenance department of PPMDC (Port Projects Management &amp; Development Company) at Hajj Terminals, King Abdulaziz Airport. It monitors customer satisfaction, optimum service availability, the compliance of maintenance practice to GACA quality standards, maintenance department expense, spare part management, and enhancement of employees’ skills, experience, and knowledge. The research uses a descriptive design surveys and formulas to assess scores, future target and suggests crucial initiatives to attain desired goals. Applying BSC, passenger journey satisfaction score indicator is 94.4% and a two-year projection of 96% and 98%. It achieved total quality standards compliance with General Authority of Civil Aviation Service quality standards (GACA) the indicator for current estimate of 4.55/5 Civil and for two successive years are estimated to be 4.60/5 and 4.65/5. The PAX systems availability indicator is 98.8% and projected 99% (for the second year). While internal process indicator was estimated at 94% and projected at 96 % in the sconed year. Department expenses indicator was 97 % for this year, while expected to be reduced at 95 % in the second year. Spare part inventory management measured at 88.3% and projected 90% for the second year. Lastly, for learning and growth indicator, the team’ skills and experience is estimate at 95% and anticipated to grow to 96% in the short term.

The Roles of Balanced Scorecard in Improving Performance Accountability System in Indonesian Government Organizations

Based on the evaluation report from the Ministry of Administrative and Bureaucratic Reform, the quality of the Indonesian government organisation’s performance accountability is still deficient. Therefore, several Indonesian government institutions have practised the Balanced Scorecard (BSC), a perspective-based performance management tool, to improve their performance accountability. This paper analyses how the Indonesian central government employs BSC and strategy maps to improve its performance accountability systems. A descriptive qualitative study concluded that Indonesian government agencies use different approaches to implement perspectives in the BSC, which they think are best suited to the characteristics of each government organisation. Indonesian government institutions generally implement BSC as a strategy execution tool, a measurement tool, and a performance accountability report. Therefore, these roles of BSC lead to an improved performance accountability system. The essential factors in developing BSC implementation are explained as well. However, this paper only primarily uses data from the Ministry of Finance and focuses only on the central government due to data limitations and time constraints. Therefore, future research is suggested.

The Evolution of Balanced Scorecard in Healthcare: A Systematic Review of Its Design, Implementation, Use, and Review.

During the last few years, the interest in performance measurement increased within the healthcare sector. Due to the COVID-19 pandemic, healthcare systems needed to boost performance measurement systems to become more resilient and improve their capability in monitoring key performance indicators. Since the 1990s, the Balanced Scorecard (BSC) model has been widely used among private and public organizations as it is the most adopted model to measure performance. The current paper aims at understanding the evolution of BSC in healthcare. The systematic literature review has been carried out by searching keywords according to PRISMA guidelines. By analyzing papers through one classification of BSC adoption phases, the results reveal that studies focused mainly on the BSC design process, rather than BSC implementation, use, or review. However, there is no agreement about the perspectives to be adopted in healthcare. Concerning BSC implementation and use, on one side especially leadership, culture and communication enable the BSC implementation. On the other side, monitoring and strategic decision-making are the most widespread objectives for using BSC. Concerning BSC review, however, the paper highlights a need for additional research. Finally, the paper provides further research opportunities concerning the phases suitable for implementing a BSC in healthcare.

IMPLEMENTATION OF THE BALANCED SCORECARD MODEL IN LOCAL SELF-GOVERNMENT AUTHORITIES

Relevance of the study is due to the need to implement tools of strategic municipal management in local self-government authorities in order to successfully complete the reform of decentralization. Foreign experience testifies that one such tool is the Balanced Scorecard (BSC) of Kaplan and Norton, which was evolved from a performance management tool for business to a dominant system of strategic management in the public setor. This tool allows use of non-financial indicators, take into account social aspects and environment as well as manage risks under uncertainty. The article argues that the BSC implementation in local self-government authorities will ensure the solution of the following tasks: 1) aligning the strategic and tactical goals with measures for their implementation; 2) increasing the institutional capacity of authorities (through development and motivation of personnel, formation of innovative organizational culture, introduction of performance management system, improvement of internal processes, development of information systems); 3) increasing the transparency and stakeholders confidence, in particular foreign investors, to attract financing in the post-war period. It was found that the structure of the BSC model and the algorithm of its implementation depend on the field of activity, size, tasks and features of the organization. An algorithm for developing the BSC model of the city council executive committee (its structural unit for the pilot project implementation) is proposed and the main strategies for the four components of this model (stakeholders, finance, internal processes, training and development) are identified. Based on the experience of Canada, Denmark, the Czech Republic and other countries, the main advantages, conditions of success and challenges of implementing the BSC concept in local self-government authorities are identified, taking into account political, organizational, financial and other aspects. It is proposed to define the ways to solve considered challenges using the design thinking methodology.

How to Engage Health Care Workers in the Evaluation of Hospitals: Development and Validation of BSC-HCW1-A Cross-Sectional Study.

Organizations worldwide utilize the balanced scorecard (BSC) for their performance evaluation (PE). This research aims to provide a tool that engages health care workers (HCWs) in BSC implementation (BSC-HCW1). Additionally, it seeks to translate and validate it at Palestinian hospitals. In a cross-sectional study, 454 questionnaires were retrieved from 14 hospitals. The composite reliability (CR), interitem correlation (IIC), and corrected item total correlation (CITC) were evaluated. Exploratory factor analysis (EFA) and confirmatory factor analysis (CFA) were used. In both EFA and CFA, the scale demonstrated a good level of model fit. All the items had loadings greater than 0.50. All factors passed the discriminant validity. Although certain factors’ convergent validity was less than 0.50, their CR, IIC, and CITC were adequate. The final best fit model had nine factors and 28 items in CFA. The BSC-HCW1 is the first self-administered questionnaire to engage HCWs in assessing the BSC dimensions following all applicable rules and regulations. The findings revealed that this instrument’s psychometric characteristics were adequate. Therefore, the BSC-HCW1 can be utilized to evaluate BSC perspectives and dimensions. It will help managers highlight which BSC dimension predicts HCW satisfaction and loyalty and examine differences depending on HCWs’ and hospital characteristics.

HSD9 The Deployment of Balanced Scorecard in Health Care Organizations: Is It Beneficial? A Systematic Review

Balanced Scorecard (BSC) has been implemented to improve the performance of organizations since 1992. To the best of the researchers' knowledge, no previous systematic review has performed a rigorous methodological approach to figure out the impact of BSC implementation in Health Care Organizations (HCO). This research intended to assess the impact of implementing the BSC on Health Care Workers' (HCW) satisfaction, patient satisfaction, and financial performance.