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Performance Measurement of Management System Standards Using the Balanced Scorecard

Author

Listed:
  • Jan Kopia

    (The Bucharest University of Economic Studies)

  • Andreas Kompalla

    (The Bucharest University of Economic Studies)

  • Melanie Buchmüller

    (The Bucharest University of Economic Studies)

  • Bastian Heinemann

    (The Bucharest University of Economic Studies)

Abstract

Management system standards (MSS), such as ISO standards, TQM, etc. are widely -used standards adopted by millions of organizations worldwide. It is still an unclear question whether these standards are beneficial for an organization, besides the fact that they might be required or expected by law or customers. The question, whether MSS increase the efficiency, the output, or the performance of an organization is still discussed in scientific research. One reason might be that performance measurement itself is not fully understood or in constant development ranging from pure financial evaluations over intellectual capital rating to calculating of levels of environmental, social or economic expectations known as the Trible Bottom Line. The Balanced Scorecard is one possible solution for performance measurement on a strategic and operational level and therefore useful for the measurement of the influence of MSS within organizations. This study summarized current research in the field of performance measurement in the context of MSS and IMS and the use of BSC and quantitatively and qualitatively tests the usefulness of BSC in measuring the effect of MSSs using the Execution Premium. It was found that BSC is often used, that an average number of companies integrate their measurement initiatives of their MSSs into the BSC-process, and that a high integration of MSS into the BSC improves the organizational performance. This research is useful for researchers and practitioners in order to understand the benefits of the usage of the BSC in the context of MSS or Integrated Management Systems.

Suggested Citation

  • 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.
    • Handle: RePEc:aes:amfeco:v:19:y:2017:i:s11:p:981
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    References listed on IDEAS

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    1. Ahsen, Anette von & Funck, Dirk, 2001. "Integrated Management Systems - Opportunities and Risks for Corporate Environmental Protection," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 37803, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    2. Fabien De Geuser & Stella Mooraj & Daniel Oyon, 2009. "Does the Balanced Scorecard Add Value? Empirical Evidence on its Effect on Performance," European Accounting Review, Taylor & Francis Journals, vol. 18(1), pages 93-122.
    3. Glen Dowell & Stuart Hart & Bernard Yeung, 2000. "Do Corporate Global Environmental Standards Create or Destroy Market Value?," Management Science, INFORMS, vol. 46(8), pages 1059-1074, August.
    4. Richard A.L. Caldarola, 2016. "Linking the Balanced Scorecard to Organizational Shareholders’ Expectations," American Journal of Economics and Business Administration, Science Publications, vol. 8(1), pages 14-22, February.
    5. Chong Ju Choi & Carla C. J. M. Millar & Caroline Y. L. Wong, 2005. "Knowledge and Measurement," Palgrave Macmillan Books, in: Knowledge Entanglements, chapter 0, pages 77-96, Palgrave Macmillan.
    6. Marta Peris-Ortiz & João J. Ferreira & Luís Farinha & Nuno O. Fernandes (ed.), 2016. "Multiple Helix Ecosystems for Sustainable Competitiveness," Innovation, Technology, and Knowledge Management, Springer, number 978-3-319-29677-7, March.
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    Cited by:

    1. Jacqueline Tsz Yin Lo & Calvin Kam, 2021. "Innovation Performance Indicators for Architecture, Engineering and Construction Organization," Sustainability, MDPI, vol. 13(16), pages 1-25, August.
    2. 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.

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    More about this item

    Keywords

    performance management; balanced scorecard; strategy maps ; management system standards; integrated management systems ; executive premium;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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