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Significance of Balanced Scorecard in Banking Sector: A Performance Measurement Tool

Author

Listed:
  • Ms Shikha Batra

    (Research Scholar, Punjabi University (Patiala), India.)

  • Dr Ambika Bhatia

    (Assistant Professor, Punjabi University Regional Centre, Mohali, India.)

Abstract

Performance management tool plays a pivotal task in evaluating strategic performance of banks. Financial ratios have long been used as a tool to evaluate the overall financial performance of a bank. But recently BSC has become increasingly important strategic management tool that translates visions into profitable actions, particularly focusing on intangible assets such innovation, employee skills and knowledge levels, customer relationships etc. Due to intensity of characteristics comprised in today’s markets whereby banking sector face fierce competition not only on a domestic scale but also on a global scale which compel them to drive strategy to achieve performance objectives such as long-term profitability and customer loyalty. In this paper, a relation between the significance of measurement of intangible assets and integration of contingencies in performance evaluation is shown which establishes the need to design a comprehensive performance evaluation system for Indian banks.

Suggested Citation

  • Ms Shikha Batra & Dr Ambika Bhatia, 2014. "Significance of Balanced Scorecard in Banking Sector: A Performance Measurement Tool," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 5(1(1)), pages 47-54, January.
    • Handle: RePEc:aii:ijcmss:v:5:y:2014:i:1(1):p:47-54
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    References listed on IDEAS

    as
    1. Dorothea Greiling, 2010. "Balanced scorecard implementation in German non‐profit organisations," International Journal of Productivity and Performance Management, Emerald Group Publishing Limited, vol. 59(6), pages 534-554, July.
    2. Ramakanta Patra, S.K. Khatik, 2003. "Human resource accounting policies and practices: a case study of Bharat Heavy Electricals Limited, Bhopal, India," International Journal of Human Resources Development and Management, Inderscience Enterprises Ltd, vol. 3(4), pages 285-296.
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