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The Balanced Scorecard as a Management Tool for Arable Farming

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  • Paustian, Margit
  • Wellner, Marie
  • Theuvsen, Ludwig

Abstract

Management requirements for crop farming are high and will rise in the future. Arable farms are challenged by volatile markets, growing administrative burdens, increasing operating costs and growing competition for land. Management skills have become much more important for farmers in recent years and this trend will continue in the future. There are numerous instruments like accounting software or crop field cards integrated in daily management practice, but there is a deficiency of a fully integrated management system to give an overview of all areas of the farming business. This gap can be closed by the management tool Balanced Scorecard (BSC) that provides an overview of all production and management activities on a farm. Therefore, with the aim to transfer the BSC concept to crop farming, German farmers and agricultural advisors were surveyed to get insights into the success factors and key performance indicators in the four BSC perspectives they consider most relevant for the operational success of arable farms. By the use of a cluster analysis, three different farm types were identified according to their visions and strategies. For the three farm types the key performance indicators that the respondents considered most relevant for farm performance were figured out. Implementation of the BSC to crop farming can result in a big benefit for management practice. The BSC focuses vision and long-term strategy with the main goal to ensure consistency of the farm and increase farm performance.

Suggested Citation

  • Paustian, Margit & Wellner, Marie & Theuvsen, Ludwig, 2015. "The Balanced Scorecard as a Management Tool for Arable Farming," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 6(3), pages 1-12, July.
    • Handle: RePEc:ags:ijofsd:208879
    DOI: 10.22004/ag.econ.208879
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    References listed on IDEAS

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    1. Lissitsa, Alexej, 2005. "The Balanced Scorecard Implementation in Farm Enterprise - A Case Study from Ukraine," 15th Congress, Campinas SP, Brazil, August 14-19, 2005 24272, International Farm Management Association.
    2. Shadbolt, Nicola M. & Beeby, N. & Brier, B. & Gardner, John W.G., 2003. "A Critique of the Use of the Balanced Scorecard in Multi-Enterprise Family Farm Businesses," 14th Congress, Perth, Western Australia, August 10-15, 2003 24380, International Farm Management Association.
    3. Kent Olson, 2013. "Trends, issues, threats, and opportunities affecting farmers," Agrekon, Taylor & Francis Journals, vol. 52(4), pages 148-167, December.
    4. Balmann, Alfons & Schaft, Franziska, 2008. "Zukünftige ökonomische Herausforderungen der Agrarproduktion: Strukturwandel vor dem Hintergrund sich ändernder Märkte, Politiken und Technologien," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 51(Sonderhef), pages 13-24.
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    Cited by:

    1. Danilo Gambelli & Francesco Solfanelli & Stefano Orsini & Raffaele Zanoli, 2021. "Measuring the Economic Performance of Small Ruminant Farms Using Balanced Scorecard and Importance-Performance Analysis: A European Case Study," Sustainability, MDPI, vol. 13(6), pages 1-13, March.
    2. Niavis, Spyros & Kyrgiakos, Leonidas-Sotirios & Kleisiari, Christina & Vlontzos, George, 2020. "What Drives Farmers’ Decisions to Invest? The Role of Research Engagement, Information Collection and Type of Farm," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 11(03), September.
    3. Nan Chen & Xinglong Yang & Nicola Shadbolt, 2020. "The Balanced Scorecard as a Tool Evaluating the Sustainable Performance of Chinese Emerging Family Farms—Evidence from Jilin Province in China," Sustainability, MDPI, vol. 12(17), pages 1-27, August.
    4. Tingey-Holyoak, Joanne & Pisaniello, John & Buss, Peter & Mayer, Wolfgang, 2021. "The importance of accounting-integrated information systems for realising productivity and sustainability in the agricultural sector," International Journal of Accounting Information Systems, Elsevier, vol. 41(C).

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    2. Paustian, Margit & Wellner, Marie & Theuvsen, Ludwig, 2015. "The Balanced Scorecard as a Management Tool for Arable Farming," 2015 International European Forum (144th EAAE Seminar), February 9-13, 2015, Innsbruck-Igls, Austria 206237, International European Forum on System Dynamics and Innovation in Food Networks.
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