Strategically aligning family and business systems using the Balanced Scorecard
AbstractWe take an integrated approach to align issues that influence the family and business, systems. Using innovation action research (Kaplan, 1998) we illustrate how the Balanced Scorecard, that includes reference to family business challenges can be introduced and used to assist family, members, board members and management in a third-generation Australian family-owned business. The process of scorecard development is discussed and the development of the core essence, vision, and mission statements, strategic objectives, measures and targets, which can be scrutinized by family, business stakeholders to ascertain consistency with the vision of the company, is outlined. We suggest, that, in the family domain, the BSC assists in the education of, and communication among, family, members. From a business system perspective, the BSC is a useful tool to link and align the family with, the business, and this too has benefits in communication and education terms. A conceptual mapping, framework is introduced and propositions that will guide future projects are detailed.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Family Business Strategy.
Volume (Year): 1 (2010)
Issue (Month): 2 (June)
Contact details of provider:
Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/719791/description#description
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nordqvist, Mattias & Melin, Leif, 2010. "The promise of the strategy as practice perspective for family business strategy research," Journal of Family Business Strategy, Elsevier, Elsevier, vol. 1(1), pages 15-25, March.
- Aldrich, Howard E. & Cliff, Jennifer E., 2003. "The pervasive effects of family on entrepreneurship: toward a family embeddedness perspective," Journal of Business Venturing, Elsevier, vol. 18(5), pages 573-596, September.
- Kimberly A. Eddleston & Franz Willi Kellermanns & Ravi Sarathy, 2008. "Resource Configuration in Family Firms: Linking Resources, Strategic Planning and Technological Opportunities to Performance," Journal of Management Studies, Wiley Blackwell, Wiley Blackwell, vol. 45(1), pages 26-50, 01.
- Astrachan, Joseph H., 2010. "Strategy in family business: Toward a multidimensional research agenda," Journal of Family Business Strategy, Elsevier, Elsevier, vol. 1(1), pages 6-14, March.
- Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 26(2), pages 301-25, June.
- Lloyd Steier, 1998. "Confounding Market and Hierarchy in Venture Capital Governance: The Canadian Immigrant Investor Program," Journal of Management Studies, Wiley Blackwell, Wiley Blackwell, vol. 35(4), pages 511-535, 07.
- Anderson, Ronald C. & Mansi, Sattar A. & Reeb, David M., 2003. "Founding family ownership and the agency cost of debt," Journal of Financial Economics, Elsevier, Elsevier, vol. 68(2), pages 263-285, May.
- Songini, Lucrezia & Gnan, Luca & Malmi, Teemu, 2013. "The role and impact of accounting in family business," Journal of Family Business Strategy, Elsevier, Elsevier, vol. 4(2), pages 71-83.
- Tappeiner, Florian & Howorth, Carole & Achleitner, Ann-Kristin & Schraml, Stephanie, 2012. "Demand for private equity minority investments: A study of large family firms," Journal of Family Business Strategy, Elsevier, Elsevier, vol. 3(1), pages 38-51.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.