Scorecard System Research Articles

Development of strategic management accounting of innovation capital based on a balanced scorecard system

The essence of the balanced scorecard system as a means of providing information for the innovative management of the enterprise has been considered. The functions of a balanced scorecard system in the system of innovative management have been disclosed. The role of a balanced scorecard system in the formation of information support for the management of the enterpriseʼs innovative capital has been analyzed. The factors that determine the need for the development of a balanced scorecard system in the conditions of the knowledge economy have been analyzed. Four main options for the reorganization of the balanced scorecard system for the accounting support of the management of the innovative capital of the enterprise have been identified and analyzed: 1) inclusion of innovative indicators in the existing prospects of balanced scorecard system; 2) renaming the individual balanced scorecard system perspectives; 3) highlighting a new «innovative» perspective; 4) creation of an innovative scorecard system. The advantages and disadvantages of each of the proposed options for the development of a balanced scorecard system from the standpoint of building a system of accounting support for the management of innovative capital at Ukrainian enterprises have been grounded.

AN ONTOLOGICAL MODEL OF WORKERS’ REMUNERATION WITHIN THE CONTEXT OF AN ENTERPRISE DIGITAL TRANSFORMATION

The article is devoted to issues related to the modeling of the business process of forming wages for manufacturing enterprise workers in the context of digital transformation. The importance of modeling the business process of paying workers is shown, on which the efficiency of the production process largely depends, and, accordingly, the efficiency of the enterprise as a whole. A model for the formation of workers’ wages has been developed, including information, technological and organizational aspects. An objective assessment of the work of workers leads to increased motivation, high-performance and high-quality work. The application of a balanced scorecard system is shown, which makes it possible to move from strategy to operational planning, taking into account the mutual influence of four modules – financial, production, consumer and innovation. Together, these modules have a significant impact on improving the efficiency of the entire enterprise. However, without digital transformation, it is impossible to consider the innovative activity of an enterprise. In addition, it is only in the conditions of digital information that it is possible to abandon the poorly documented distribution of shift-daily tasks to workers and promptly monitor their implementation. The development of a methodology for paying workers leads to the fact that having operational results of production activities, it is possible to objectively evaluate the work of workers, monitor their activities and determine the amount of encouragement not only once a month, but also daily. The implementation of this technique allows you to activate workers to perform shift-daily tasks within the time limits set by the plan and in the prescribed range, increase production discipline, encourage economical use of material, energy and other resources. In addition, production information is promptly displayed in the management system, which allows managers to have an up-to-date picture of the production plan implementation.

ПРОБЛЕМЫ СБАЛАНСИРОВАННОСТИ РЕГИОНАЛЬНОГО РАЗВИТИЯ: СФЕРА НЕДВИЖИМОСТИ

The authors considered the issues of bal-anced development of the real estate sector at the regional level. The article shows the historical aspects of the development of the balanced scorecard system for enterprise management and emphasizes the relevance of using a similar approach to the strategic management of real estate development in the regions of Russia. This process must take into account the interests of various groups of participants, including investors, the population with different income levels, government structures responsible for both overseeing the construction and real estate sector, and for solving social issues. As a scientific novelty, it is worth noting proposals for improving the conceptual as well as methodological aspects of the balanced scorecard for regional development based on a combination of positivist and phenome-nological approaches.

THE APPLICATION OF BALANCED SCORECARD SYSTEM AS A COMPREHENSIVE PERFORMANCE MEASUREMENT FRAMEWORK FOR JOINT STOCK COMPANIES

This thesis aims to explore the application of the Balanced Scorecard (BSC) system as a comprehensive performance measurement framework for joint stock companies. The Balanced Scorecard is a strategic management tool that provides a holistic view of organizational performance by incorporating financial and non-financial measures. This research investigates the benefits, challenges, and practical implementation of the BSC system in the context of joint stock companies.

IMPROVING THE EFFICIENCY OF THE BALANCED SCORECARD SYSTEM IN ECONOMIC ENTITIES

This thesis aims to investigate and propose strategies for improving the efficiency of the Balanced Scorecard (BSC) system in economic entities. The BSC is a widely used performance measurement framework that incorporates financial and non-financial indicators to evaluate and monitor organizational performance. While the BSC has proven to be effective in many organizations, there is room for improvement to enhance its efficiency and maximize its benefits. This thesis explores various directions to optimize the implementation and utilization of the BSC, ultimately contributing to more effective strategic management and decision-making.

ОЦЕНКА ЭФФЕКТИВНОСТИ ГОСУДАРСТВЕННОГО УПРАВЛЕНИЯ СОЦИАЛЬНО-ЭКОНОМИЧЕСКИМ РАЗВИТИЕМ АРКТИЧЕСКОЙ ЗОНЫ РОССИЙСКОЙ ФЕДЕРАЦИИ НА ОСНОВЕ СИСТЕМЫ СБАЛАНСИРОВАННЫХ ПОКАЗАТЕЛЕЙ

Priority attention to the Arctic zone of Russia requires new, proactive approaches to state management of the development of the territory subjects, which should take into account not only the uniqueness and originality of the North, but also the maximum satisfaction of the population interests, including indigenous peoples, the business community and their willingness to participate in managing the territory development. The purpose is to substantiate the tools for assessing the effectiveness of public management of socio-economic development of the Arctic zone of the Russian Federation based on a system of balanced indicators. The object of the study is the state strategic management of the development of the Arctic zone of the Russian Federation. The subject of the study is organizational and managerial relations that arise in the process of interaction between government bodies, business structures and the population of the constituent entities of the Arctic zone of the Russian Federation in the system of strategic development of the territory. Research methodology: general theoretical methods of analysis, synthesis, generalization, monographic method, as well as the concept of a balanced scorecard, the theory of the stakeholder approach, strategic management. As a result, the authors of the study proposed a step-by-step algorithm for assessing the effectiveness of government strategic management and the potential for stakeholder loyalty. The author's approach is based on a system of balanced indicators that are translated into stakeholder maps. The principles that should be the basis for the implementation of a balanced scorecard system in the activities of public authorities are highlighted.

A balanced scorecard system as a character of the enterprise's financial stability

A balanced scorecard system as a character of the enterprise's financial stability

Concept for the Customer Perspective of the Balanced Scorecard (BSC) System in Bus Transport Companies in the Slovak Republic

Customer awareness and customer satisfaction are generally important attributes for the success and competitiveness of any business. In some sectors, they are studied very intensively; in others, they are neglected. In the field of transport services, it is important that the attitudes of customers are sufficiently monitored because public passenger transport has a lot of individual competition. Only satisfied customers can prefer public transportation over their own. In this context, this contribution analyses customer requirements and their satisfaction with bus public transport in the Slovak Republic. The opinions of customers are supplemented in this article with those of strategic managers. We ascertained customer requirements through questionnaire surveys. Using theoretical knowledge, we established hypotheses, which were subsequently verified using the selected statistical methods. Based on the findings, we proposed the concept of the target perspective of the BSC system for bus transport companies in the Slovak Republic in an effort to increase their competitiveness. Our procedure was also based on knowledge that is the output of various research studies in this area. Their results show that marketing strategies are considered the most important part of strategic management. Today, it is common in many industries that all business entities offer the same product at the same price under approximately the same technological conditions and with the assistance of equally well-equipped personnel. Therefore, a correctly set marketing strategy can also be the key to business success in transport services. The methods used in this paper were analysis, synthesis, questionnaire surveys, and the selected managerial and statistical methods. Our goal was to propose a concept of the customer perspective of the BSC system based on the analysis of customer requirements. We are convinced that the results of our survey can contribute to increasing the competitiveness of not only bus carriers in Slovakia, but also in other EU countries.

Risk-Based Assessment of the Performance of Territorial Bodies of the Federal Treasury of the Russian Federation

This paper presents the authors’ methodology of a risk-oriented approach to assessing the performance of territorial bodies of the Federal Treasury of the Russian Federation. The proposed methodology consists in the application of adjustment coefficients, which account for the quality of the execution of budgetary powers and the growth rate of the gross regional product of the corresponding territory. The goal of the study is to develop a risk-oriented methodology for assessing the contribution of the territorial bodies of the Federal Treasury to the United Nations sustainable development goals and national goals. The current study employs systemic, process based, risk-oriented approaches, statistical data analysis, and mathematical research methods. The gross regional product for the subjects of the Russian Federation is calculated for 2018–2019. Based on an analysis of Russian and foreign research on modern controlling systems and in accordance with the current concept of controlling, an attempt is made to develop a methodology for assessing the performance of the Federal Treasury and its territorial bodies. The main conclusion of the study is that the most expedient approach to assessing the efficiency of territorial bodies of the Federal Treasury is through the balanced scorecard system built in accordance with the strategic goals of the Federal Treasury, the national goals of the Russian Federation, and the UN SDGs.

Predicting the Outcome of Patients with Aneurysmal Subarachnoid Hemorrhage: A Machine-Learning-Guided Scorecard.

Aneurysmal subarachnoid hemorrhage (aSAH) frequently causes long-term disability, but predicting outcomes remains challenging. Routine parameters such as demographics, admission status, CT findings, and blood tests can be used to predict aSAH outcomes. The aim of this study was to compare the performance of traditional logistic regression with several machine learning algorithms using readily available indicators and to generate a practical prognostic scorecard based on machine learning. Eighteen routinely available indicators were collected as outcome predictors for individuals with aSAH. Logistic regression (LR), random forest (RF), support vector machines (SVMs), and fully connected neural networks (FCNNs) were compared. A scorecard system was established based on predictor weights. The results show that machine learning models and a scorecard achieved 0.75~0.8 area under the curve (AUC) predicting aSAH outcomes (LR 0.739, RF 0.749, SVM 0.762~0.793, scorecard 0.794). FCNNs performed best (~0.95) but lacked interpretability. The scorecard model used only five factors, generating a clinically useful tool with a total cutoff score of ≥5, indicating poor prognosis. We developed and validated machine learning models proven to predict outcomes more accurately in individuals with aSAH. The parameters found to be the most strongly predictive of outcomes were NLR, lymphocyte count, monocyte count, hypertension status, and SEBES. The scorecard system provides a simplified means of applying predictive analytics at the bedside using a few key indicators.

Exploring the association between health, local area characteristics and climate action plans in the UK: Cross-sectional analysis using administrative data from 2018 and a citizen science ranking of climate action plans from 2021

Local government has an important role to play in mitigation and adaption to climate change. In the UK, 82% of all emissions fall within the scope of local government. However, in UK climate legislation there is no statutory requirement for local government to address climate change. Eighty percent of local authorities have declared a climate emergency and developed climate action plans. The aim of this study is to explore the association between social vulnerability (poor health, financial resources, deprivation, house prices) and the quality of climate action plans as measured by a scorecard system created by Climate Emergency UK. We hypothesis that areas with lower levels of social vulnerability will have higher quality climate plans. We utilised a citizen science created dataset ranking local government’s climate action plans and administrative data on local area characteristics related to social vulnerability at the local authority level. Descriptive analysis and multivariate regression were employed. We found a very small but significant association between total weighted score, central government funding and average house prices. For the individual dimensions of the quality of climate action plans, higher male life expectancy and house prices were associated with better commitment and integration and having a greater percentage of the population over the age of 65 was associated with a lower score in this dimension. More urban areas and less deprived areas had higher scores for planning climate education, skills and training. We suggest that greater national guidance is needed including sharing good practice on how to build community support and additional funding for climate change mitigation/adaption in particular for education, skills, and training in more deprived areas may help to prevent variations in climate action plans increasing inequalities.

Information flows’ movement analysis in the integrated accounting and analytical system of individual entrepreneurs in the web business on marketplaces sphere

The annual increase in the number of individual entrepreneurs in comparison with the decrease in the number of legal entities, especially in the form of microbusiness in the field of online commerce on marketplaces, reflects the relevance of the chosen topic. The analysis of scientific articles over the past year confirms that research on the specifics of the individual entrepreneurs’ activities is aimed primarily at the external interaction of entrepreneurs and the state. The scope of internal control and the features of accounting for individual entrepreneurs have not been previously considered by scientists. Earlier in the works of scientists, business management processes, elements of a balanced scorecard system and stages of the accounting process were included for a simplified structure of an integrated accounting and analytical system. The study purpose is to optimize information flows in the accounting and analytical system of individual entrepreneurs in the field of web business on marketplaces. As a result of the study, the information movement has been clarified in order to fix indicators of strategic goals and the formation of tax accounting registers. The goals’ components and system’s objectives of balanced indicators for individual entrepreneurs have been formed, considering the specifics of web business on marketplaces. The tasks’ interrelation is reflected and the possible connection of universal indicators within the framework of strategic goals is described. These studies can be used as the development of state recommendations on accounting by individual entrepreneurs as an alternative to existing ones for organizations. Further studies may be devoted to assessing the effectiveness of the accounting and analytical system for individual entrepreneurs and clarifying the algorithm of automation, as well as obtaining information when accounting within such a system.

Ultimate cricket experience: Dynamic web app for a real-time scoring system in university cricket

Cricket, a globally popular team sport, involves eleven players and encompasses both batting and bowling skills, with the objective of scoring runs and dismissing the opposition's batsmen. The sport has complex rules and demands skill, technique, and teamwork. Cricket enjoys a significant following worldwide and has produced iconic players. It has evolved with shorter formats and tournaments, attracting a global audience. The " Ultimate Cricket Experience: Dynamic Web App for Real-Time Scoring System in University Cricket” project aims to develop a web application specifically designed for university cricket sports. The main goal of the project is to develop a dynamic web application that provides real-time cricket scorecards for cricket enthusiasts, offering an immersive and engaging experience across all active cricket matches. By providing a user-friendly platform that makes it simple for users to stay up to date with live scores, statistics, and important match highlights, this program strives to satisfy the ardent love of cricket fans. The strategic implementation of the MERN stack, combining MongoDB, Express.js, React.js, and Node.js, ensures a robust, scalable, and modern solution for developing the real-time scorecard system. This combination of technologies offers a robust and scalable solution for developing A Real-time Cricket Scorecard System. The key features of the web application include a live scorecard that provides real-time updates on ongoing matches, and comprehensive match details such as team information, player statistics, and match schedules. The platform also offers university sports news, sports event information, and other relevant details to keep users informed and engaged with the cricketing activities within the university.

Tool Development for Assessing the Strategic Development of Territorial Socio-Economic Systems for the Purposes of Energy Sector Digital Transformation

This article addresses the issue of implementing and assessing the readiness of territorial and economic systems for digital innovations in the energy industry. To achieve the goal of this research, qualitative and quantitative methods were used, including systemic and comparative analyses, a balanced scorecard (BSC), and statistical data collection and processing methods. The study resulted in a list of indicators for monitoring the readiness of the energy sector for digitization, based on which a balanced scorecard reflecting the readiness of the energy industry in countries and regional industrial complexes (RICs) was developed. A strategic map for assessing the level of readiness of the power industry for digitisation in countries and RICs was constructed using the indicator pool. The uniqueness and novelty of this study lie in the adaptation of a balanced scorecard system, aligned with a country’s or RIC’s development strategy, to determine indicators for assessing the readiness level of the considered entity for digitising the power industry. The authors establish an approach to the overall assessment and subsequent monitoring of the energy industry’s readiness for digitisation in countries worldwide and RICs.

АУДИТ БЕЗПЕРЕРВНОСТІ ДІЯЛЬНОСТІ ПІДПРИЄМСТВ

The article is devoted to the substantiation of the prerequisites and priorities for the development of the methodology and improvement of the organizational and methodological provisions of the audit of business continuity in the context of the requirements of the International Auditing Standards (IAS), changes in domestic legislation regarding the publication of financial statements of business entities in the context of military operations in Ukraine. The purpose of the study is to substantiate the priorities of the methodology development and improvement of the organizational and methodological provisions of the audit of the continuity of the activities of enterprises in conditions of uncertainty. The object of the study is the audit of the continuity of the enterprises. The methods used in the research: scientific knowledge, the method of generalization, comparison, logical - meaningful, methods of induction and deduction, analysis. The hypothesis consists in the assumption of the need for the development of methodology and the development of recommendations for improving the organizational and methodological provisions of the audit of business continuity in the context of the requirements of the ISA, changes in domestic legislation regarding the publication of financial statements based on the assumption of business continuity in the conditions of military operations in Ukraine and ensuring the awareness of interested persons about the current state of the enterprise's performance and the potential of its continued viability. Presenting main material. The prerequisites, the problematic field of issues that affect the assumption of continuity and the priority directions of the audit of the continuity of the enterprises' activities are determined. The basic provisions for the development of the methodology of the audit of the continuity of the activities of enterprises have been developed, which provide for an interconnected and complex solution to the tasks of improving the organizational and methodological principles of the audit in the context of the requirements of the ISA and taking into account changes in the domestic legislation regarding the publication and audit of financial statements by economic entities in the conditions of military operations in Ukraine. The classification of factors influencing the assumption of continuity of activity and the procedures for their assessment by segments are provided. The need to assess the loss of economic benefits from risk situations and reserves for their coverage is substantiated using the example of accounts receivable. The sequence of the audit process is presented and the elements of the methodology, criteria and objects of the business continuity audit are disclosed. To ensure the quality of the audit, additional analytical procedures based on the use of the Balanced Scorecard (BSS) and the methodology of integrated analysis of continuity, which covers four blocks of indicators: financial status, efficiency, added value, and the Balanced Scorecard system, are proposed. The originality and practical significance are: the provisions on the development of the methodology of the audit of the continuity of the enterprises' activity on the modern paradigm of the requirements of the ISA and changes in the domestic legislation; methodological recommendations regarding the sequence of the audit process of business continuity; a method of comprehensive analysis of the continuity of activity, the implementation of which allows to assess the effectiveness of management and the potential for ensuring the continuous viability of the enterprise. Conclusions. The need for the development of the methodology for the audit of the continuity of activities of enterprises arises from the requirements of the IASB and ISA, changes in the domestic legislation regarding the publication of financial statements based on the assumption of the continuity of business entities in the conditions of military operations in Ukraine, and the need to assess the potential for ensuring the continuous viability of the enterprise and the effectiveness of management. The implementation of the developed provisions for the development of the methodology of the audit of business continuity on the new paradigm and recommendations for its organizational and methodological support will contribute to the improvement of the quality of the audit. The proposed analytical procedures for assessing the influence of non-financial factors on the creation of added value based on a system of balanced indicators provide an opportunity to determine the critical segments of the enterprise's activity in the directions of business processes and obtain sufficient and acceptable audit evidence to provide information about the continuous viability of the enterprise. The use of the methodology of complex analysis of continuity allows you to form qualitative information for the preparation of a conclusion about the current state of the enterprise's performance, management efficiency and continuous viability of the enterprise in conditions of uncertainty.

Market Competition, Balanced Scorecard, and Their Effects on Hotel Organizational Performance and Manager’s Satisfaction

ABSTRACT This study examines the effect of market competition as a determinant of the balanced scorecard (BSC) system and the two consequences of organizational performance and managers’ satisfaction. Four hypotheses are tested using partial least squares structural equation modeling. The data were collected from 145 valid responses from four- and five-star hotels in Turkey and focused on the pandemic period. The results revealed that market competition does not affect the use of BSC. Nevertheless, the BSC leads to better organizational performance and system satisfaction for managers. Managers’ satisfaction with the BSC was also positively related to the performance of hotel organizations.

The Concept of Applied Strategic Analysis of Learning and Growth

Learning and growth is one of the essential tools that companies ought to use in today's market economy in order to ensure their sustainable development in the long-term and, consequently, to achieve their maximum market value. This article is predominantly of theoretical nature and considers the possibility of using the applied strategic analysis technique that was developed by the author to analyze learning and growth in the course of a study of strategic aspects of learning and growth. The technique is based on the balanced scorecard system of the same name. Methodologically, the study is based on Kaplan and Norton's balanced scorecard concept and the author's concept of applied strategic analysis. Findings – It is shown that applied strategic analysis of learning and growth envisages comparative evaluation, diagnostics of deviations and predictions of the values of the balanced scorecard metrics of learning and growth in the dimension of strategic objectives. It includes analysis of the level of motivation in employees, the volume of authority delegation and whether their personal goals match company goals; analysis of the expansion capacity of information systems, and analysis of the quality of retraining and the creativity level of employees. The applied strategic analysis of learning and growth with a comparative evaluation of the metrics of the level of motivation in employees, the volume of delegation to them and of the match between their personal and corporate goals, and concludes with a prediction of the values of factor measures of the quality of retraining and creativity development in employees. The author comes to the conclusion that applied strategic analysis of learning and growth is a new and sufficiently effective instrument for studying the strategic aspects of companies' performance that is associated with the training and development of their personnel. The instrument provides analytical support to strategic management as regards personnel training and development in today's conditions. Its results might be useful when working out managerial decisions for the company's short-term, medium-term and long-term plans in the area of learning and growth.

The Environment in the Lead: A Scorecard System to Assess Adaptation Measures and Score Ecosystem Services at the Street Level

Currently, there is no method available that can systematically score the available ecosystem services in streets or street segments in suburban districts. In this study, different climate adaptation measures and their ecosystem services were categorized into green, blue, and grey categories and weight was given to each category based on their impact on the microclimate. This study took place in the Hillesluis district in the city of Rotterdam and the Paddepoel district in the city of Groningen. In Rotterdam, 21 streets, composed of 42 street segments, were assessed. In Groningen, 17 streets, composed of 45 street segments, were assessed. The available ecosystem services of each street segment were scored from 0–100. The scorecard method that was developed and tested during this study provided insight in the variation of available ecosystem services of streets and street segments. Individual street scores were very low in the city of Rotterdam and ranged between 3 and 50, with the average score for the street segments of 29. In Groningen, the scores were considerably higher with a range between 23 and 70, with an average score of 47 per street segment. The presence of larger green trees, front yards, and façade gardens in the green category are the most distinctive variable, while adaptation measures in the blue category were absent in both cities. The scorecard proved to be very useful in the adaptation labeling of street segments and entire streets. After assessing a neighborhood, the least adaptive streets can be identified relatively easy. Based on the score a label can be given between A+++ and G. The scorecard informs residents and decision makers about which streets are most adaptive and which streets have an adaptation potential. The method can easily be duplicated and used by local governments and community groups to have better insight in the level of climate adaptation of their street. Labels for entire streets can be used to create awareness and encourage residents to take action and expand the number of climate adaptation measures in their street.

Managing effi ciency in sport: evidence of Formula 1 Williams GP team

The article addresses the specificity of managing efficiency in motorsport industry and the development of key performance indicators (KPI) system for the Formula 1 team. The study analyses the annual reports of the company that manages Formula 1 team - Williams Grand Prix Holding, and Liberty Media company which owns the rights to hold the Formula 1 championship. This paper is based on Kaplan-Norton balanced scorecard system, industry reviews and studies. The analysis provides an overall profile of the firm, identifies its weaknesses and formulates the strategic development goals related to both sporting activities and other areas of work. The study contributes to management theory by developing efficiency criteria framework adapted for motorsport sphere that is currently considered understudied. Finally, the paper offers a system of indicators that may be both used for performance evaluation in automotive business and its sports (competition) segment and adapted to other sports.

Digital Balanced Scorecard System as a Supporting Strategy for Digital Transformation

Reports of the high percentage of failed digital transformation ventures motivate the need to find a comprehensive framework with regulatory attributes to support these initiatives. Due to its structure, consistent strategy decomposition capabilities, and strategic map architecture, the assumption is that a customized version of the Balanced Scorecard can ensure the better overall success of digital transformation projects. The qualitative analysis methodology was applied to previous research, and this study identified critical issues and challenges related to the strategy and overall endeavor of digital transformation. Based on the methodology of the traditional Balanced Scorecard, a draft version of the Digital Balanced Scorecard was formulated. The Digital Balanced Scorecard is a comprehensive, primarily prescriptive model that is focused directly on the challenges, opportunities, and obstacles of transformation. The proposed BSC model can consistently interpret a digital strategy and assist organization leaders in successfully formulating and coordinating all necessary activities and projects to apply technologies. The Digital BSC provides the projection of financial results and improvements in sustainability after transformation. The proposed solution to support digital transformation can accelerate an organization’s development, improve efficiency, and strengthen efforts to achieve an organization’s sustainability goals.