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Performance measurement system implementation using Balanced Scorecard and statistical methods

Author

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  • Changiz Valmohammadi
  • Azadeh Servati

Abstract

Purpose - The purpose of this study is twofold: first, to design and implement a performance management system using third‐generation Balanced Scorecard (BSC) and statistical methods in an Iranian black carbon producer (Company A) to achieve its main strategy and vision; and second, to compare and evaluate some strategic measures of the company against those of a leading company in this industry in Iran (Company B) and those of a Thai company (Company C) to identify any possible gaps, so that the management of Company A can move toward filling such gaps. Design/methodology/approach - The strategic objectives of the company as well as the measures of each perspective of the BSC were determined. In addition to studying all related documents of the company and conducting interviews, two self‐administered questionnaires were designed and distributed amongst a total of 24 managers or experts in the company. Statistical methods were used to select strategic objectives and measures. Findings - This paper illustrates how the use of a combined approach of statistical methods and BSC could help organisations to design and implement a sound performance measurement system. Also the result of the comparison with the two companies previously mentioned revealed that the case company is lagging in most of the measures, necessitating the execution of necessary initiatives on these measures to fill the existing gaps. Practical implications - The paper establishes the basis for integrating and using statistical methods for selection of strategic objectives and measures of BSC and paving the way for implementation of a performance management system, particularly the third‐generation BSC. Originality/value - This study integrates statistical methods and third‐generation BSC techniques to design and implement a performance measurement system in an Iranian black carbon production company.

Suggested Citation

  • Changiz Valmohammadi & Azadeh Servati, 2011. "Performance measurement system implementation using Balanced Scorecard and statistical methods," International Journal of Productivity and Performance Management, Emerald Group Publishing Limited, vol. 60(5), pages 493-511, June.
    • Handle: RePEc:eme:ijppmp:v:60:y:2011:i:5:p:493-511
    DOI: 10.1108/17410401111140400
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    Citations

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    Cited by:

    1. Abhishek Behl & Pankaj Dutta & Stefan Lessmann & Yogesh K. Dwivedi & Samarjit Kar, 2019. "A conceptual framework for the adoption of big data analytics by e-commerce startups: a case-based approach," Information Systems and e-Business Management, Springer, vol. 17(2), pages 285-318, December.
    2. Muhammad Yameen & Jam Javed Iqbal & Adeel Razaq & M. Suleman Sabir & Zafar Ullah Adil Sohail, 2011. "Organization Performance Influenced by the BSD and Consultative Management Style," Information Management and Business Review, AMH International, vol. 3(4), pages 198-205.
    3. Florence Mueni & Caren Angima, 2022. "Effects of Digital Adoption on Performance of Insurance Companies in Kenya," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 6(12), pages 614-618, December.
    4. Carlos M. F-JARDON & Miguel GONZALEZ-LOUREIRO, 2013. "Human Capital as Source for Sustained Competitive Advantages in SMEs: A Core Competencies Approach," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 16(2), pages 255-276, December.
    5. Bello Taofik Abidemi & Fairol Bin Halim & Ahmad Alshauibi, 2018. "Moderating Role of Environmental Dynamism on the Relationship between Service Marketing Mix, Marketing Orientation and Microfinance Performance: A Conceptual Model," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 4(3), pages 40-46, September.
    6. Marie H. Bani Khaled & Salem S. Al-Oun, 2019. "Strategic Planning Using Balanced Scorecard an Experience by Al Al-Bayt University, Jordan," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 9(4), pages 144-159, October.
    7. Carlos M. F-Jardón, 2011. "Deployment of Core Competencies to obtain success in SMEs," Working Papers 1106, Universidade de Vigo, Departamento de Economía Aplicada.

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