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Development of a balanced scorecard

Author

Listed:
  • Jitesh Thakkar
  • S.G. Deshmukh
  • A.D. Gupta
  • Ravi Shankar

Abstract

Purpose - The purpose of this paper is to propose an integrated qualitative and quantitative approach to the development of a balanced scorecard (BSC) for a real life case company KVIC (Khadi and Village Industries Commission, organic food sector, India). Design/methodology/approach - In this paper the semi‐structured interviews with director, managers, professional consultant, review of published reports and observations made during research work are considered as basis. Findings - This paper illustrates how the use of a mix approach of cause and effect diagram, Interpretive Structural Modeling (ISM) and Analytic Network Process (ANP) can address some of the shortcomings related to the development of BSC in the light of a real life case company KVIC (Khadi Village and Industry Commission, organic food sector India). The paper delivers a complete framework of BSC for the case company. Research limitations/implications - The paper outlines the limitations of proposed approach in regard to validity of present logical relationships among various objectives of organization in the futuristic environment and indicates the need for a computer software system, which can improve the efficiency of proposed approach. Practical implications - In the paper a number of case studies report the fact that companies have attempted to derive measures from strategy, based on cause‐and‐effect reasoning, but the claimed link between strategy and measures appeared weak in analysis (Malmi, 2001). The paper establishes the basis for integrating organization's strategic intent with the identification of performance measures and at large development of BSC. Originality/value - The paper shows that present work demonstrates the use of an innovative approach to the development of performance measurement system at one end while to deliver a workable framework of balanced scorecard for a real life case company is the objective of the other end. The present work encapsulates the philosophy of strategy maps using a mix of quantitative and qualitative approach for a real life case.

Suggested Citation

  • Jitesh Thakkar & S.G. Deshmukh & A.D. Gupta & Ravi Shankar, 2007. "Development of a balanced scorecard," International Journal of Productivity and Performance Management, Emerald Group Publishing Limited, vol. 56(1), pages 25-59, January.
    • Handle: RePEc:eme:ijppmp:v:56:y:2007:i:1:p:25-59
    DOI: 10.1108/17410400710717073
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    Citations

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    Cited by:

    1. Bhupender Singh & Sandeep Grover & Vikram Singh, 2017. "A benchmarking model for Indian service industries using MICMAC and WISM approach," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 8(2), pages 1266-1281, November.
    2. Aleksander Janeš & Armand Faganel, 2015. "Managing Sustainable Profit," MIC 2015: Managing Sustainable Growth; Proceedings of the Joint International Conference, Portorož, Slovenia, 28–30 May 2015,, University of Primorska, Faculty of Management Koper.
    3. Paranitharan Kannusamy Panneer Selvam & Ramesh Babu Thangavelu, 2019. "The IMBES model for achieving excellence in manufacturing industry: an interpretive structural modeling approach," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 10(4), pages 602-622, August.
    4. Xiaohong Jiang & Huiying Wang & Xiucheng Guo & Xiaolin Gong, 2019. "Using the FAHP, ISM, and MICMAC Approaches to Study the Sustainability Influencing Factors of the Last Mile Delivery of Rural E-Commerce Logistics," Sustainability, MDPI, vol. 11(14), pages 1-18, July.
    5. Song, Dong-Wook & Seo, Young-Joon & Kwak, Dong-Wook, 2019. "Learning from Hanjin Shipping’s failure: A holistic interpretation on its causes and reasons," Transport Policy, Elsevier, vol. 82(C), pages 77-87.
    6. Ilkka Sillanpää, 2012. "Empirical Study of Measuring Supply Chain Performance," MIC 2012: Managing Transformation with Creativity; Proceedings of the 13th International Conference, Budapest, 22–24 November 2012 [Selected Papers],, University of Primorska, Faculty of Management Koper.
    7. Wu, Wei-Shing & Yang, Chen-Feng & Chang, Jung-Chuan & Château, Pierre-Alexandre & Chang, Yang-Chi, 2015. "Risk assessment by integrating interpretive structural modeling and Bayesian network, case of offshore pipeline project," Reliability Engineering and System Safety, Elsevier, vol. 142(C), pages 515-524.
    8. Lin, Ling-Zhong & Yeh, Huery-Ren, 2013. "Analysis of tour values to develop enablers using an interpretive hierarchy-based model in Taiwan," Tourism Management, Elsevier, vol. 34(C), pages 133-144.
    9. V. R. Pramod & D. K. Banwet & P. R. S. Sarma, 2016. "Understanding the barriers of service supply chain management: an exploratory case study from Indian telecom industry," OPSEARCH, Springer;Operational Research Society of India, vol. 53(2), pages 358-374, June.
    10. Daria Balkovskaya & Liubov Filneva, 2016. "The use of the balanced scorecard in bank strategic management," International Journal of Business Excellence, Inderscience Enterprises Ltd, vol. 9(1), pages 48-67.
    11. Hsu, David W.L. & Shen, Yung-Chi & Yuan, Benjamin J.C. & Chou, Chiyan James, 2015. "Toward successful commercialization of university technology: Performance drivers of university technology transfer in Taiwan," Technological Forecasting and Social Change, Elsevier, vol. 92(C), pages 25-39.
    12. Verdecho, María-José & Alfaro-Saiz, Juan-Jose & Rodriguez-Rodriguez, Raul & Ortiz-Bas, Angel, 2012. "A multi-criteria approach for managing inter-enterprise collaborative relationships," Omega, Elsevier, vol. 40(3), pages 249-263.
    13. Vineet Sehgal & Mahim Sagar & Ravi Shankar, 2016. "Modelling of Key Success Factors for Mobile Virtual Network Operators in Indian Telecommunication Market," Global Business Review, International Management Institute, vol. 17(6), pages 1314-1338, December.
    14. He-Yau Kang & Meng-Chan Hung & W. L. Pearn & Amy H. I. Lee & Mei-Sung Kang, 2011. "An Integrated Multi-Criteria Decision Making Model for Evaluating Wind Farm Performance," Energies, MDPI, vol. 4(11), pages 1-25, November.

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