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The Determination of Performance Measures by Using a Balanced Scorecard Framework

Author

Listed:
  • Kefe Irem

    (Osmaniye Korkut Ata University, Osmaniye, Turkey)

Abstract

The aim of this study was to determine the contributions of the balanced scorecard (BSC) methods to identify the relationship between the objectives and activities and examine how the BSC should be formed in a manufacturing company. The BSC framework was examined via a case study in a yarn manufacturing company. The activities to be carried out by the company to achieve its objectives and how the appropriate measures are determined in evaluating the contribution of the activities to the achievement of objectives are explained under the BSC approach. The BSC implementation and adaptation have facilitated in a family owned company because of its fast decision-making process. Objectives are made clear in accordance with the company’s strategy and causal relationship between objectives and activities are linked by the strategy map. The BSC implementation shows that financial measures are not enough to evaluate the effects of all the activities on the objectives in a company. The cooperation between departments in the company and the efficiency of corporation meetings increases. The meetings have become more result-oriented due to clarifying objectives and responsibility of individual levels.

Suggested Citation

  • Kefe Irem, 2019. "The Determination of Performance Measures by Using a Balanced Scorecard Framework," Foundations of Management, Sciendo, vol. 11(1), pages 43-56, March.
    • Handle: RePEc:vrs:founma:v:11:y:2019:i:1:p:43-56:n:4
    DOI: 10.2478/fman-2019-0004
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    References listed on IDEAS

    as
    1. Lueg, Rainer & Vu, Louisa, 2015. "Success factors in Balanced Scorecard implementations – A literature review," management revue. Socio-economic Studies, Rainer Hampp Verlag, vol. 26(4), pages 306-327.
    2. Jan Kopia & Andreas Kompalla & Melanie Buchmüller & Bastian Heinemann, 2017. "Performance Measurement of Management System Standards Using the Balanced Scorecard," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 19(S11), pages 981-981.
    3. Selena Aureli & Andrea Cardoni & Mara Del Baldo & Rosa Lombardi, 2018. "The Balanced Scorecard Logic in The Management Control and Reporting of Small Business Company Networks: A Case Study," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 17(2), pages 191-215, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    balanced scorecard; performance measures; strategy maps; strategic planning; manufacturing;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M4 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting

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