Applying the balanced scorecard for better performance of intellectual capital
نویسندگان
چکیده
Purpose – One of the responses to criticisms of traditional forms of accounting reports for knowledge-based firms has been the development of the balanced scorecard (BSC), a strategic performance measurement framework and methodology based on a family of performance measures. This paper aims to examine the issue of measuring performance in relation to a major Australian company, The Fosters Brewing Group, where a newly appointed CEO reversed a decline in performance by adopting, among other initiatives, the balanced scorecard approach to management. Design/methodology/approach – The paper takes the form of a case study, applying the theoretical framework of the BSC to a declining business in order to achieve a turnaround. Findings – The paper discusses how a newly appointed CEO of The Fosters Brewing Group reversed a decline in performance by adopting, among other initiatives, the balanced scorecard approach to management. Research limitations/implications – The BSC is a practical framework to deal with the intangible nature of knowledge, while ensuring that such investments in knowledge and management align with and contribute to their strategic direction. Practical implications – The paper provides an example of a company using the BSC to deal with the imperative of making investments in knowledge and management skills. Originality/value – There is a growing body of literature on the limitations of traditional accounting statements that measure tangible, physical assets to capture the current and future value of knowledge. This paper illustrates a framework using the BSC to manage and measure the intangible nature of knowledge.
منابع مشابه
The Influences of Intellectual Capital Accumulation and Balanced Scorecard Implementation on Financial Performance: Using a Moderator of Earnings Management
This study aims to explore the effects of the intellectual capital accumulation and the balanced scorecard implementation on the financial performance, with the earnings management being a moderator. Interviews were conducted on the objects of the directors (section manager-level and above) from Taiwan-listed semiconductor companies. This study collects all data from the databases of Taiwan Eco...
متن کاملDevelopment of using balance scorecard in universities for having better performance: a fuzzy DEMATEL-Shapley value goal programming approach
Universities have a magnificent role in the sustainable development of their country and international scientific production of their country. Purpose of this paper is expansion of using balance scorecard in universities In order to improve performance of universities in learning and educating. The Balanced Scorecard (BSC) is an extensively adopted performance management framework in a lot of o...
متن کاملThe Influences of Balanced Scorecard upon Intellectual Capital Accumulation Implemented by Listed LED Companies in Taiwan: A moderator of organizational commitment
This study aims to verify the influence of balanced scorecard implemented by Taiwan LED-listed companies on the accumulation of the intellectual capital with organizational commitment as an interference variable, management of human resource, finance, production and marketing departments and staff of production departments as research subjects. This study uses simple random sampling to select s...
متن کاملDevelopment of using balance scorecard in universities for having better performance: a fuzzy DEMATEL-Shapley value goal programming approach
Universities have a magnificent role in the sustainable development of their country and international scientific production of their country. Purpose of this paper is expansion of using balance scorecard in universities In order to improve performance of universities in learning and educating. The Balanced Scorecard (BSC) is an extensively adopted performance management framework in a lot of o...
متن کاملBalanced Scorecard: Myth and Reality
The performance improvement process is a critical component of the strategic planning process. Call it by any name, the process is very vital, and it has always been practised by many companies worldwide for a long time. This process has been recently dubbed as the balanced scorecard. The balanced scorecard is a system of combining financial and non-financial measures of performance in one sing...
متن کامل