Not just the bottom line

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Combining a balanced scorecard strategy with strategy maps can provide a better method for an organization to both communicate strategies as well as identify areas where performance is subpar. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Strategy maps: the middle management perspective

Purpose The second major step in the development of the balanced scorecard was the introduction of strategy maps. Although much has been written about the benefits of strategy maps, there have been relatively few empirical studies that explore their use in a real-world setting. Additionally, the studies that have been done do not focus on the perspective of middle managers and employees who execute the strategy on a daily basis. This study addresses these gaps through observing the construction of strategy maps in two main business lines of a commercial bank. The participating managers are then asked if they agree that the resulting strategic performance measurement system assist organizations in the three ways most discussed in the literature: translating and operationalizing strategy, communicating the strategy and measuring the strategy. This study also provides some additional insights regarding the construction and use of strategy maps in organizations. The findings provide evidence to management that strategy maps are beneficial and guidance on how these could be implemented. The purpose of this study is to examine the implementation of strategy maps in a real-world setting. Strategy maps are an extension of the well-known and adopted balanced scorecard, but have received little attention in empirical studies. Design/methodology/approach The researcher introduced middle managers and operational staff to strategy maps and assisted them in the construction of a map for their business unit. The participants were then interviewed as to whether they agree with the benefits outlined in literature. Findings Participants agreed with the three main benefits outlined in literature and also provided additional feedback on the use of strategy maps from the perspective of their role as middle managers and those who had not used strategy maps in the past. Research limitations/implications This study should be replicated in a larger setting. It would be particularly helpful to involve multiple departments across one organization or replicate the research in different organizations in the industry. Practical implications It would be helpful to guide business units through the construction of strategy maps and then survey employees at different levels throughout the business units to obtain their feedback concerning the resulting product. Social implications Because this study involves middle managers and operational level employees, it provides insight on the use of strategy maps, which could be extrapolated to other strategic performance management tools. This is a level of management that has not been involved to a large extent in previous research. Originality/value This paper is the first to observe middle managers in their development of a strategy map, which puts it in the unique position to note the opinions of this group on the benefits of the tool.

BALANCED SCORECARD SEBAGAI ALAT PENGUKURAN KINERJA PADA RUMAH SAKIT UMUM DAERAH dr. SOEDONO MADIUN

This study is to design strategy maps and Key Performance Indicator (KPI) within the concept of balanced scorecard in RSUD dr. Soedono Madiun. This study is expected to provide input to RSUD dr. Soedono Madiun in designing balanced scorecard, strategy maps, and KPI. The result of this study,showed the customer perspective of RSUD dr. Soedono Madiun comprises the increase of customer satisfaction, and number of patients. Internal business perspective comprises the enhancement of service and administrative quality. Learning and growth perspective comprises the improvement of power capability, facility, and employee benefits. The financial perspective comprises the enhancement of self-reliance, inc, and improvement of operational cost management of the hospital

Enterprise Architecture for Accounting and Finance Transformation: Using Strategy Maps to Develop High-Performance Finance

Although enterprise architecture is evolving into a multiple billion-dollar business, it has received limited attention in the accounting information systems literatureRecently, The Hartford implemented a unique and robust approach that used Kaplan and Norton’s well known “strategy maps” as part of the enterprise architecture process to transform the finance department and embed strategy into accounting and finance. The Hartford developed a strategy map and used that map as the basis of enterprise architecture integration. The process generated a creative future state that included a linear flow of information that mirrored the information life cycle, while providing a “single source of truth” archive for financial information in order to redesign the finance function to attain “high performance finance.” In so doing, the paper investigates a unique approach, an “innovative practice,” that allows grounding accounting and financial information systems in an organization’s strategy formulation process.