Study of Balanced Scorecard as Performance Management System for Profit Maximization in Automobile, IT and Engineering Industry

Authors

  • Ashok Joshi
  • Ashish P. Thatte

DOI:

https://doi.org/10.33516/rb.v40i0.211-229p

Keywords:

Balanced Score Card, Performance Management, Profit Maximisation, Non Parametric Analysis (NPA).

Abstract

As a researcher the need was felt to evaluate effectiveness of Balanced Scorecard in Indian Industry. The effectiveness we defined as profit maximization and counted by 8 Important Financial Indicators (IFIs). IFIs selected for the data analysis are also on random basis and not on selective basis. Therefore, we may conclude that Tata Motors (59.62%) and LMW (54.46%) are doing better than their competitors but not Infosys (34.50%) failed to show superiority over its competitors. We may conclude that both Tata Motors and LMW have managed to take advantage of market situation to do better with the help of Balanced Scorecard. The effectiveness of Balanced Scorecard was found to be less in IT and Software industry as compared with industries like Engineering and Automobiles.

Downloads

Download data is not yet available.

Downloads

Published

2014-12-01

How to Cite

Joshi, A., & Thatte, A. P. (2014). Study of Balanced Scorecard as Performance Management System for Profit Maximization in Automobile, IT and Engineering Industry. Research Bulletin, 40, 211–229. https://doi.org/10.33516/rb.v40i0.211-229p

Issue

Volume 40, December 2014

Section

Articles
Crossref
Scopus
Google Scholar
Europe PMC

References

Anand, M., Sahay, B.S. and Saha, S. (2005) “Balanced Scorecard in Indian Companiesâ€, Vikalpa, Vol. 30, No. 2, pp 11-25

Bible, L., Kerr, S. and Zanini, M. (2006), “The Balanced Scorecard: Here and Backâ€, Management Accounting Quarterly, Vol. 7, No. 4, summer 2006

Calandro Jr., J. and Lane, S. (2006), “Insights from Balanced Scorecard: An Introduction to Enterprise Risk Scorecardâ€, Measuring Business Excellence, Vol. 10, No. 3, ISSN 1368-3047

Kaplan, R. S. and Norton, D.P. (1992), The Balanced Scorecard: Measures that drive performance, Harvard Business School Press, Boston, MA.

Kaplan, R. S. and Norton, D.P. (1993), Putting the Balanced Scorecard to Work, Harvard Business Review, Vol. 71, No. 5, pp 134-142

Kaplan, R. S. and Norton, D.P. (1996), The Balanced Scorecard Translating Strategy into Action, Harvard Business School Press, Boston, MA.

Kaplan, R. S. and Norton, D.P. (2004), Devising a Balanced Scorecard Matched to Business Strategy, Planning Review, Vol. 22, No. 5, pp 15-48

Kaplan, R. S. (2005),â€How the Balanced Scorecard Compliments the McKinsey’s 7s Frameworkâ€, Strategy and Leadership, Vol. 33, No. 3, pp 41-46

Lawson, R., Stratton, W. and Hatch, T. (2006), “Strategic Focus- Does Your Scorecarding System Have It?â€, CMA Management, Oct 2006, Vol. 80, No. 6, pp 35-40

Lawton, R (2002), “Balance Your Balanced Scorecard†Quality Progress, March 2002, Vol. 35, No. 2, pp 66-70

Neely, A., Adams, C. and Kennerley, M. (2002), “The Performance Prism: The Scorecard for Measuring and Managing Business Successâ€, Financial Times-Prentice Hall, London

Neely, A., Kennerly M. and Martinez, V (2004), “Does the Balanced Scorecard Work: an Empirical Investigationâ€, www.google.com downloaded on 29th Dec 2007

Niven, P. (2005), “Driving Focus and Alignment with Balanced Scorecardâ€, Journal for Quality and Participation Association for Quality and Participation Organization, www.ebscohost.com

Sale, R. and Sale, M. (2005), “Lending Validity and Consistency to Performance Measurementâ€, Management auditing Journal, Vol. 20, No. 8, pp 815-927

Schneiderman, A (2002), downloaded from www.schneiderman.com

Weiser, J. (2006), “Drive Strategy Execution through Strategy Focused Governanceâ€, Cost Management, July-August 2006