Scorecard System Research Articles

The Assessment of Internal Indicators on The Balanced Scorecard Measures of Sustainability

Background: Performance evaluation has become an essential tool for managers in the banking sector, which is undergoing frequent and rapid changes. It allows banks to maintain a high level of returns and reach their targets while staying competitive. In this context, sustainable performance management has emerged as essential for the banking sector. Indeed, the sustainable management of performance, while increasing the efficiency and effectiveness of organizations, also ensures sustainable measurement based on balanced scorecard practices. Purpose: This study aims to examine the assessment of internal indicators on the balanced scorecard of sustainability in the banking system in North Cyprus, which is one of the sustainable performance evaluation methods. Moreover, it aims to evaluate and reveal the effects of innovation performance, organizational culture, intrapreneurship, and the efficiency and effectiveness of the accounting information system on overall business performance in terms of the performance scorecard to achieve sustainable balanced scorecard systems. Design/Methodology/Approach: This study (BSC), which focuses on the banking industry in North Cyprus, was motivated by the recent and limited usage of a balanced scorecard. The questionnaire was used to gather data from 350 employees and managers of 21 banks in North Cyprus. Analyses of the collected data were conducted using structural equation modeling (SEM, AMOS 25). Findings: The findings of the research established that organizational culture, intrapreneurship, and accounting information system effectiveness have positive effects on a balanced scorecard and its sub-dimensions. Innovation performance does not affect the balanced scorecard and its sub-dimensions. Originality/Value: In identifying the advantages and contributions in BSC introduction and implementation, the study contributes to the current state of knowledge, enabling organizations which intend to use this tool to adopt it and develop it. This study takes organizations’ culture, innovation and intrapreneurship performance, and development on accounting and information systems into consideration in relation to the implementation process of BSC.

The Balanced Scorecard System: The Perspective of International Orientation

AbstractIntroducing a balanced scorecard system may assist managers in identifying four dimensions and recognizing cross-functional interactions, which can ultimately lead to better problem solving, decision making, and business growth. Monitoring a company's key performance indicators (KPIs) can improve organizational performance and enhance shareholder value. A survey was prepared and distributed to 60 managers from Croatian businesses to investigate the relationship between business success as assessed by a balanced scorecard system. The questions were based on the balanced goal system, a four-dimensional model for measuring business performance that covers financial performance, knowledge, and employees, processes success, and market performance. It was used to assess managers' perceptions of foreign and domestic businesses. Furthermore, a two-step cluster analysis was conducted. The results indicated that the respondents who are dominantly oriented towards the international markets share identical perspectives on the importance of the company's performance as those in the predominantly domestic markets.

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

ВЗАИМОСВЯЗЬ СИСТЕМЫ СБАЛАНСИРОВАННЫХ ПОКАЗАТЕЛЕЙ СО СТРАТЕГИЧЕСКИМИ ЦЕЛЯМИ ОРГАНИЗАЦИИ

Strategy is of key importance for any organization, because it determines the vector of the organization’s development. In today’s world, companies must be able to adapt to the rapidly changing environment and outperform their competitors while adhering to the strategy. Only prompt receipt of information contributes to the timely adoption of the right decision by the top management team, which would contribute to the achievement of long-term goals. For this purpose it is necessary to define correctly a development strategy of the company and way of its realization. Balanced scorecard system is a tool to implement the strategy of the company, allowing to achieve the goals and indicators.

MANAJEMEN PEMBIAYAAN OPERASIONAL BOARDING SCHOOL PUTRA DARUL HIKAM DAGO GIRI BANDUNG

This paper aims to reveal the management of education financing at the Putra Darul Hikam Dago Giri boarding school Bandung. This study uses a qualitative method with the type of field research. The results showed that the education financing management at the Putra Darul Hikam Dago Giri boarding school Bandung, includes: Planning based on the evaluation of the previous year's budget, which was carried out by the Treasurer, Head of Bureau II and Head of Boarding school approved by the college director. Sources of funding are obtained from guardians of students, boarding, donors and foundations. Financing management includes entry and exit costs which include personnel, non-personnel and investment costs. Operational budget supervision is carried out by the Head of Bureau II and the Director of Darul Hikam College. Financial reports are carried out by two parties, namely by the foundation through the Darul Hikam college and by the chairman of the Boarding which is called the Balanced Scorecard (BSC) system.

Balanced scorecard method as measurement of key performance indicators at PT PELNI (Persero)

PT PELNI (Persero) is engaged in sea transportation and strives to design a comprehensive performance measurement system. The purpose of the research was to identify the indicators used by PT PELNI (Persero) as a measurement of employee performance, draft the concept of a balanced scorecard system in accordance with the measurement of the company's performance, and develop a balanced scorecard simulation design in accordance with the vision, mission, and strategy of PT PELNI (Persero). Measuring the company's performance using the Balanced Scorecard (BSC) method begins with SWOT analysis. This analysis aims to determine internal factors and external factors of the company. From the results of this analysis will be known the current position of the company and what strategies should be applied. The results showed that the company is in good shape, but facing challenges, so the strategy to choose is a diversification strategy. The final result of this study is the selection of several KPIs and 7 (seven) work programs that must be done, including improved efficiency of asset use, promoting cheap tickets during the covid-19 pandemic, efficiency and control utilization during the covid-19 pandemic, developing agency applications and automation of travel service systems, to ensure and monitor On-Time Performance (OTP) per ship, voyage account application development, improving education and training programs for employee self-development.

How to Measure the Performance of Social Innovation? Case Study of Hungarian Social Cooperatives

Innovation is a key element of economic development and a key factor in social processes. Technological and economic innovations cannot respond to all social challenges. However, innovation - the search for new and innovative solutions - needs to be interpreted more broadly than before. In line with social changes, the European Union pays more attention to the context of social innovation. The social enterprises play a vital role in modern societies. The subject of our study is social cooperatives, which are a type of social enterprise. The social cooperatives offer an opportunity to improve the employment skills. However, the management of this enterprises faces several dilemmas how can build up an effective control system of a social enterprises in Central-Europe. As our questionnaire stated, the major problem of social cooperative is the quality of available labour force. This paper focuses the applicability of the traditional Balanced Scorecard system to the special needs of a social cooperative. Here one area of the Balances Scorecard will be highlighted – the Human Resource management and how the tools can be effectively adapted to the social cooperatives. A report system and a ratio analysis tool are developed to help the work of social cooperative managers. The focus of this paper research question how can improve the monitoring of Human Resource Management in social enterprises like social cooperatives. In the introduction part of this paper the importance of social innovation is emphasized, and a brief introduction to the development of controlling tools is provided. Next, part of our broader questionnaire is presented to highlight the importance of Human Resource Management in the Hungarian social cooperatives. In the discussion part a special BSC is presented which is based on Bull’s social enterprise Business Scorecard system. The Human Resouce Management should consider the regulatory requirements of granting authority, so these are briefly introduced. Finally, some indicators and tables are presented which can help the Human Resource Management in a social innovation enterprise.

Oil Spill Response Planning For Amazon Region–A Crude Carrier Study Case

It is well-known that an adequate planning process is paramount for a response success in oil spill events. This is especially true for tankers leakages due to its dynamic nature and potential to cause severe environmental harms. Moreover, one of the most challenging planning dimensions for an adequate response is, certainly, the human and material mobilization logistics, which can be strongly limited in remote regions. In South America, one of the most worldwide preserved rainforest areas, the Amazon, which consists of more than 5 million square kilometers and contains a thousand rivers, is also one of the most remote area, with important logistics challenges for almost any human activity. Despite all these difficulties, however, since 1986 Brazil has been producing an average of 35.000 bpd of oil at Urucu Field, located close to the city of Coari, around 400 miles from the province capital, Manaus. Once produced, this oil is pumped through a pipeline until a terminal at Solimões river, where is loaded in tankers destined to Manaus. Although contingency facilities exist in these two cities, there is no support installation in any point over the 342 nautical miles of the journey. Therefore, this study aimed at identifying the major operational risks of this naval transport and at analyzing some specific contingency planning aspects. Initially, a total of 12 safety critical areas were identified during a field inspection trip along Solimões and Amazon rivers. For each point, a qualitative risk analysis was developed, using tropical environmental sensitivities indexes and an empirical oil slick forecast modelling, as well as an oil weathering modelling using the ADIOS2 computational package. Finally, a verification checklist with a scorecard system was developed and applied, in order to assess the oil spill response feasibility and rank the critical spots over the rivers courses. For all the points evaluated, around 30% of all accidental hypothesis were associated with a catastrophic risk, with most being identified as potentially causing a severe environmental impact. Besides, all the estimated response times calculated were insufficient to avoid oiling of the riverbanks. Finally, due also to strong currents and other limiting environmental conditions, all critical point displayed low scores for the response feasibility evaluation, with poor logistics being a key parameter. From these results, navigational safety recommendations and oil spill response planning guidelines were developed in order to minimize an accident occurrence probability and, hence, the risk associated with it.

Company performance measurement systems: History and prospects

Subject. The article considers the most well-known Performance Measurement Systems, i.e. Strategic Measurement Analysis and Reporting Technique (SMART), Balanced Scorecard System (BSC), Integrated Dynamic Performance Measurement System (IDPMS), Performance Prism System (PPS), Dynamic Multi-Dimensional Performance Model (DMP). Objectives. We focus on identifying the specifics of the analyzed systems and determining the direction of their development. Methods. The study employs general scientific methods. The specifics of efficiency measurement systems are described and compared by a single set of parameters (the composition of stakeholders, whose interests are taken into account, practical applicability, dynamic adaptability, the presence of links between strategy and technological operations, innovation, etc.). Results. We analyzed the said efficiency measurement systems, described their strengths and aspects that need to be developed in further research. The findings can be used to create a system to measure the performance of Russian manufacturing and trading companies that produce goods for individual consumers. Conclusions. The systems like SMART, BSC, IDPMS, PPS and DMP are significant developments that help companies achieve their goals. These systems are universal. They serve as a methodological framework for creating a particular system for measuring a company's performance, taking into account its industry-specific requirements. These systems enable to solve some economic and management problems, but do not allow, for example, to determine the optimal business model of the company. It is appropriate to develop efficiency measurement systems by incorporating the value-based management principles.

Promoting Low-Carbon Tourism through Adaptive Regional Certification

Climate change is a key issue in sustainable tourism, both in terms of the greenhouse gas emissions generated by the tourism sector and the potential impacts of climate change on tourism-dependent regions. Low-carbon tourism is an emerging paradigm based around emissions reduction by tourism businesses, as well as broader values of adaptation, transition and behavioral change. This article presents the results of a low-carbon tourism case study in the Blue Mountains of New South Wales, Australia, where the Low-Carbon Living Program has successfully designed and implemented a low-carbon rating and certification scheme. This scheme covers emissions related to energy, waste and water and is based on regionally-specific data. The program has also succeeded in its aim of using the tourism industry as a catalyst for broader community action, having been expanded to schools and retailers in the case study region. A transferable regional model has been developed that is being adapted for use in new regions under a modular and decentralised program structure. However, questions remain around the impact of the program on participants’ carbon footprints and customer levels over time, as well as the suitability of a common scorecard system to diverse participant types.

Совершенствование системы отношений участников государственного строительного заказа

The article identifies the potential opportunities of using the Balanced Scorecard (BSC) system by construction organizations in the Russian Federation as part of their participation in public procurement. The main projections of BSC are considered, on which construction organizations of the Russian Federation should rely. The authors substantiate the socio-economic significance of using the Balanced Scorecard by the construction company in order to increase the competitiveness as a participant in the competition in public procurement, in particular, its positive influence on the quality of construction and installation works and the activation of innovative activity.

РАЗРАБОТКА СТРАТЕГИИ ЭКОНОМИЧЕСКОГО РАЗВИТИЯ СЕЛЬСКОХОЗЯЙСТВЕННОГО ПРЕДПРИЯТИЯ С ИСПОЛЬЗОВАНИЕМ СИСТЕМЫ СБАЛАНСИРОВАННЫХ ПОКАЗАТЕЛЕЙ

Abstract. The paper analyzes the dynamically developing methodology for building balanced scorecard systems in the modern world. The reasons for the relevance of the processes of improving the management approach are considered. The article focuses on the existing problems in this area and assesses the prospects for the implementation of this system at one of the agricultural enterprises of the Kursk region – LLC “NIVA” of the Cheremisinovsky district. The article proposes a scheme for the development and implementation of a system of balanced indicators in the enterprise. On the basis of factor analysis, the influence of these indicators on the dynamics of the financial condition of LLC “NIVA” is investigated. Based on the general analysis, the strengths and weaknesses were identified, which allowed us to outline ways to improve management system for financial condition of the enterprise.

ПІДВИЩЕННЯ ЕФЕКТИВНОСТІ ПРОЦЕСУ РЕАЛІЗАЦІЇ СТРАТЕГІЇ ПІДПРИЄМСТВА ШЛЯХОМ ІНТЕГРАЦІЇ ЗБАЛАНСОВАНОЇ СИСТЕМИ ПОКАЗНИКІВ В СИСТЕМУ БЮДЖЕТУВАННЯ

Nowadays, one of the most effective technologies for managing the financial and economic activities of the enterprise is budgeting, the main task of which is to increase the efficiency of enterprise performance. The very budgeting acts as a planning tool for pursuing strategic goals and is interrelated with the main strategic goal of the enterprise. In determining the effectiveness of enterprise performance, it is essential to use non-financial criteria, e. g., quality of service, supplier lead time, etc., along with financial indicators. At the same time, it is essential to authorize managers to define the goals of their divisions or business units as they can assess the situation and predict developments most skillfully. This is possible only when the enterprise regularly resorts to strategic planning, and corporate strategic goals are brought to the notice of all key high- and medium-ranking managers. Assessment of the efficiency of the budgeting process at the enterprise is limited to a pooled analysis and comparison of planned and actual indicators. To assess effectiveness, it is necessary to develop a system of estimated figures, the creation of which should take into account those aspects of activities that they should render the interrelation of planning decisions on the implementation of elements of enterprise strategy. One of the criteria of effective budgeting is its balance, consistency of budget parameters with resources, objects and stages of budgeting. Balance is designed to ensure the effective achievement of operational and strategic goals of the enterprise – this can be achieved by using the balanced scorecard system. The balance scorecard comprises the following parameters: clients, business processes, and staff. Parameters of the balanced scorecard should, first, relate to the objectives of the enterprise strategy, secondly, be balanced according to the objects and stages of budgeting. Improvement of the efficiency of the budgeting system can be achieved through:  combining goals and budgeting structure with the strategic goal of the enterprise;  developing organizational and structural model of the balanced score card to manage the implementation of the budgeting strategy;  introducing the balanced score card in the budgeting system. This issue is relevant as the integration of the balanced score system in the budgeting system makes it possible to achieve a synergetic effect in the form of enterprise value increase.

Controlling as a tool for balanced scorecard system of information security department of the enterprise

Controlling as a tool for balanced scorecard system of information security department of the enterprise

THEORIES OF MANAGEMENT OF THE RESEARCH ACTIVITY IN THE KNOWLEDGE-DRIVEN SOCIETY AND THEIR APPLICABILITY IN HIGHER EDUCATIONAL INSTITUTIONS: SYSTEMATIC REVIEW

The purpose of the review was to identify the world-recognized management theories that are used to manage the research activity in higher educational institutions and assess the applicability of them in higher educational institutions of Ukraine. This study relied on the methods recommended for feasibility studies. This review utilised qualitative methods in the search and assessment of the relevant studies. Two instruments were used in the study. These were the Critical Appraisal Checklist and the Triangular Assessment Method. The theoretical management concepts such as Total Quality Management, Project Management, the Excellence Model designed by the European Foundation for Quality Management, Balanced Scorecard System, and Organisational Management have been adapted to the purpose of managing research at higher educational institutions. The findings implied that research management could be seen as a dimension of the quality management policy of the higher educational institutions. The study suggests that Organisational Management is quite a blur concept so far which causes misinterpretations and misleadings in terms of both research activity organisation and promotion. It was found that the Total Quality Management and Project Management concepts could be used to manage the research activity at universities in Ukraine. The Balanced Scorecard System concept could also be applicable in Ukrainian higher educational institutions. However, the EFQM Excellence Model and Organisational Management could be partially applicable in Ukraine as they are more commerce-oriented, which seems to be a legislative loophole in Ukraine.

The Effects of Wine Regions on the Profitability of the Hungarian Winers

The aim of our research is to analyse the profitability and efficiency performance of different Hungarian wine regions. In our study, we make the initial assumption that wine regions function as a separate agglomeration zone, an industry cluster in the life of wineries. Consequently, it makes sense to evaluate profitability and efficiency not at the corporate level but at the wine region level. In the study, we used the DuPont scorecard system, which is now preferred by companies for planning and control purposes. According to the results of the 2017 large wine test, we divided the Hungarian wine regions into four groups, and in the case of wineries that cannot be classified as wine regions, we created two more groups. Our results are consistent with the theory of agglomeration zones and industrial clusters. In winemaking, it can also be demonstrated that wine regions, which can be considered as a special industrial cluster, have a significant impact on the economic performance of wineries.

The Role of Human Resource Management Indicators in Social Enterprises with Special Regard to the Social-Cooperatives

The social enterprises play a vital role in a daily operation of smart cities. They can provide these towns with flexibility and innovation skills and help to maintain the social peace to provide work with the less competitive part of smart cities’ population. (Bartha-Bereck, 2018) This paper focuses this latter task. The social co-operatives offer an opportunity to improve the employment skills. However, the management of this enterprises faces several dilemmas how can build up an effective control system of a social enterprises in Central-Europe. As our questionnaire stated, the major problem of social cooperative is the quality of available labour force. This paper focuses the applicability of the traditional Balanced Scorecard system to the special needs of a Social Enterprises. Here one area of the Balances Scorecard will be highlighted – the Human Resource management and how the tools can be effectively adapted to the social cooperatives. A report system and a ratio analysis tool is developed to help the work of social cooperative managers.

A balanced scorecard-based assessment of the migration attractiveness of the Russian Federation Arctic Zone regions

Subject. This article deals with the issues of migration attractiveness of the regions of the Arctic zone of the Russian Federation. Objectives. The article aims to identify problems affecting the migration attractiveness of these regions, build a model of its assessment on the basis of a balanced scorecard system, and check the model's statistical significance. Results. The article describes the configuration of the developed original balanced scorecard system, which is a set of factors broken up into economic, social, demographic, and natural components. Eight of the nine Russian Arctic zone subjects studied showed an increase in the integrated index of migration attractiveness. However, not all its components have positive changes. Relevance. The integrated index of migration attractiveness is statistically significant, and it can be used to characterize the migration attractiveness of the regions of the Arctic zone of the Russian Federation, identify reserves to stimulate migration, and plan and predict the migration situation as a whole.

Сбалансированная система показателей миграционной привлекательности субъекта Арктической зоны Российской Федерации (на примере Архангельской области)

Work forces movement affects substantively on economy of the territory and its development. In order to define migration attractiveness patterns of change as a result of certain statistic indicators changes, which characterize socio-economic, climatic situation on Arkhangelsk region example, the balanced scorecard system of migration attractiveness assessment of Arkhangelsk region was developed. It is possible to use this model for planning and forecasting of migration flows.

Implementation of management accounting in the system of economic monitoring of activities in the context of globalization

The article deals with the problems that arise during the implementation of the concept of modern management accounting for Ukrainian enterprises by introducing new accounting systems and developing approaches to accounting and information generalization of transaction costs in order to effectively manage them in the globalized economy. The existing system of introduction of management accounting at enterprises is examined and the introduction of management accounting on foreign examples is considered, namely the balanced system of indicators, which is already actively used abroad and is just beginning its development in Ukraine. The research of this topic is related to the change of accounting information systems in modern conditions and the need to create a global accounting system, and adjustments are made to management accounting functions. The article compares and defines the distinctive features of accounting, and its composition of financial, tax and management accounting. A clear algorithm for the construction of this system at the enterprise and indicators that must be calculated for a complete and independent analysis of the work of the enterprise are distinguished and described. The ambiguous interpretation of the concept of managerial accounting in the course of its evolutionary development has led to the study of this topic. The article presents a system of metrics that are calculated within the Balanced Scorecard system used by the enterprise. The problems of implementing a balanced scorecard based on the experience of corporations already using the system are also discussed. The lack of legal and legislative framework to stimulate and encourage the introduction of this concept into the practice of management accounting in Ukraine leads to the unsatisfactory functioning of this system. According to the results of the research, the recommendations on the introduction of management accounting in the system of economic monitoring of activity in the conditions of globalization are given.