Search Results (74)

The management of transfer pricing operations is considered from the perspective of modeling financial and accounting processes for various organizations, using agricultural enterprises as an example. It is demonstrated that the execution of transfer pricing operations between related parties—which may function as responsibility centers within an organizational holding structure—serves as a managerial lever influencing the financial income and expenses of individual business units. It is revealed that the developed model of managerial accounting for transfer pricing operations, grounded in tax compliance and the balancing of stakeholder interests, is based on two key aspects: first, to ensure the balanced development of the company’s business units, a list of key performance indicators (KPIs) is developed and integrated into a balanced scorecard (BSC), promoting the sustainable and stable operation and growth of the company; second, with access to this list of KPIs, the manager of each business unit can exert indirect influence over a segment of the final product’s value chain by selecting transfer prices that adhere to the arm’s length principle. The practical application of the proposed model is illustrated using previously formed economic operations from the research base. Full article

The assessment of company performance requires a holistic approach, encompassing both financial and non-financial metrics. Accordingly, we develop a comprehensive airline performance evaluation model utilizing the Balanced Scorecard (BSC)-based multi-criteria decision-making (MCDM) framework. Based on contingency theory, we use 30 Key Performance Indicators (KPIs) derived from the literature and develop a novel performance model by combining the BSC framework with the Method based on the Removal Effects of Criteria (MEREC) for KPI weighting and the Combined Compromise Solution (CoCoSo) for ranking. The focus on Turkish Airlines, serving as a comparative benchmark, over the period 2020–2023 reveals that while financial KPIs hold the greatest weight, non-financial KPIs have the most significant impact on performance. The lowest performance is recorded in 2020, most probably attributable to the COVID-19 pandemic, followed by a remarkable recovery in 2021. We offer a methodological contribution for managers, decision-makers, and scholars—an objective, data-driven tool to assess airline performance. Furthermore, we furnish policymakers with tangible data for more effective industrial incentives and convenient regulatory strategies. In contrast to most of the literature emphasizing financial indicators and subjective weighting approaches that might yield biased rankings, we suggest a novel integrated performance evaluation model tailored for the airline industry. Full article

This paper tackles the logistics dilemma of how to meet customer expectations while at the same time respecting the internal processes and financial interests of the company and ensuring long-term sustainability. In this paper, integrated Quality Function Deployment (QFD) and Balanced Scorecard (BSC) techniques developed a method for the structured planning of logistics strategies. BSC, combined with QFD, gives the opportunity not only to “translate” the voice of the customer but also to focus on the company’s interests from four perspectives. For example, for products, we evaluated the interactions between different expectations, and the focus was on the disputes that arise during the expectations. The result of this paper is that Extended QFD provides a new method to formulate the various requirements. This method is suitable for creating a sustainable logistics strategy. Full article

Sustainability has become one of the main drivers of organizational performance. This study investigates the integration of sustainability with the balanced scorecard (BSC) as a framework for translating environmental management strategy into organizational performance. This review also seeks to map sustainability balanced scorecard (SBSC) research, clarifying its current role and identifying gaps and opportunities for future research. To achieve this, we sourced and reviewed 247 publications from the Web of Science index, corresponding to 129 scientific journals and 57 conference proceedings. Our analysis included content analysis and bibliometric analysis performed using the R packages Bibliometrix (version: 4.3.5), Biblioshiny, and CiteSpace (6.3.R1 Basic). The findings revealed that the SBSC enhances organizational capacity to align sustainability with strategic objectives, although significant implementation barriers remain, such as the selection of appropriate sustainability indicators and organizational resistance. This study contributes to advancing the theoretical and practical understanding of the SBSC while offering pathways for future research and application across sectors. Full article

Ports play a crucial role in Indonesia’s economy, yet many, particularly smaller ports, lack standardized port performance indicators (PPIs) to assess and improve operational efficiency. Existing studies primarily focus on financial and operational performance, often employing either the balanced scorecard (BSC) or PESTLE analysis in isolation, with limited integration of sustainability concepts, such as smart port and green port frameworks. This study bridges this gap, aiming to develop and validate a comprehensive PPI framework that combines BSC, PESTLE, and circular economy smart and green port principles to create holistic performance assessment tools for ports. The research used a three-round Delphi method, incorporating expert evaluations and consensus from academics, consultants, port authorities, and customers to validate key performance indicators. A total of 127 PPIs were initially identified through a literature review and expert consultations, using strict selection criteria—standard deviation ≤ 1.5, interquartile range (Q3–Q1) ≤ 2.5, and ≥51% expert agreement (ratings 8–10). The final validated framework includes 114 indicators covering financial, operational, environmental, and strategic dimensions. This study provides valuable insights for port authorities to optimize performance and align with global best practices by integrating internal and external factors into a comprehensive model. Full article

There are conflicting findings in the literature regarding the factors that influence school success. This uncertainty complicates the effective allocation of resources. The present study aims to identify critical success factors (CSFs) for schools by incorporating the perspectives of various stakeholders and addressing this gap in the literature. Additionally, a comprehensive performance measurement model is developed to ensure the sustainability of success. A three-phase complementary methodology was employed with 330 participants, including school administrators, students, and parents, from 23 high schools in Istanbul. Fuzzy cognitive mapping (FCM) was utilized to identify critical success factors (CSFs) by calculating centrality index values. Additionally, a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis was conducted to assess the institutional context, and a balanced scorecard (BSC) was developed for performance measurement. According to the results from FCM and SWOT analysis, the factors related to teachers, students, and school physical conditions were identified as the most critical success factors. The BSC model was employed in four high schools, yielding performance scores of 81.12 and 92.52, 67.89, 77.58, respectively. With its unique methodological approach integrating three analytical techniques, this study highlights the critical role of teacher experience, student quality, and appealing physical conditions in school success. It offers school administrators a scientifically grounded, practical performance evaluation tool. This study is significant as it establishes a foundation for monitoring large-scale investment performance in schools, encompassing Environmental, Social, and Governance (ESG) dimensions, and providing a basis for sustainability initiatives within educational institutions. Full article

The Balanced Scorecard (BSC) is a strategic management framework introduced by Kaplan and Norton in 1992 to address the limitations of traditional performance measurement systems. It integrates financial and non-financial performance measures across four perspectives—financial, customer, internal processes, and learning and growth. Over three decades, the BSC has evolved into a comprehensive strategic tool adopted across industries and sectors worldwide. While its adaptability and integrative approach are strengths, criticisms include challenges in implementation, assumed cause–effect relationships, and relevance in decentralized organizations. Future research should investigate cultural adaptation; the incorporation of environmental, social, and governance metrics; and advancements driven by artificial intelligence to maintain ongoing relevance. Full article

This paper investigates the impact of artificial intelligence (AI) on the forklift industry, focusing on logistics and procurement within small and medium-sized enterprises (SMEs) in Romania. Using a mixed-methods approach, including interviews with seven managers from a benchmarked company in the forklift industry (BCFI) and quantitative analysis of operational data, we examine the transformative effects of AI integration. Key findings include a 30% reduction in inventory holding costs due to AI-powered predictive analytics; a 15% decrease in procurement costs through AI-driven supplier evaluation systems; a 25% increase in operational efficiency from AI-optimized route planning; a 40% boost in overall productivity attributed to AI-enabled automation; and a projected 20% reduction in low-skilled labor requirements over the next five years. The study employs environmental, social, and corporate governance (ESG), balanced scorecard (BSC), benchmarking, and activity-based management (ABM) models to analyze risks and implications of AI integration. A case study of a leading Romanian SME in the forklift industry is presented, examining financial strategies using McKinsey’s 7S framework. The paper concludes that while AI offers significant operational benefits, it also presents challenges in workforce transition and ethical considerations that require careful management. Full article

The increasing focus on sustainability and climate change mitigation necessitates that corporate strategies not only build competitive advantage but also contribute to the creation of sustainable operations. The purpose of the article is to present, based on the analyses of the development of the strategic targets of leading Fast-Moving Consumer Goods (FMCG) companies, a method for operationalizing an ESG-adapted corporate strategy within FMCG companies using the Balanced Scorecard (BSC). ESG, encompassing environmental, social, and governance factors, requires a shift in both strategic management theory and practice. The author explores how ESG metrics can be integrated into the traditional BSC framework alongside financial, customer, and business processes and learning and growth perspectives to align with the growing importance of sustainability. The study identifies specific measures that contribute to a successful transition toward sustainable business practices. The findings demonstrate that the BSC, when adapted to incorporate ESG considerations, is an effective tool for strategy implementation and operational management in FMCG companies. While the proposed framework focuses on the FMCG sector, it has potential applications across other industries. The article makes important theoretical contributions, though it would benefit from further empirical research, sector-specific comparisons, and a more detailed examination of external ESG factors that impact corporate strategy. Full article

Purpose: Addressing sustainability challenges in additive manufacturing (AM) is critical due to high energy consumption and waste. Optimising AM operations is vital for sustainability. However, the existing literature lacks practical examples for AM companies on how to enhance sustainability. To address this gap, a case study within an AM firm was conducted. Design approach: Using the analytical hierarchy process (AHP), sustainability key performance indicators (KPIs) were identified, aligned with the firm’s strategic objectives. Sustainable value stream mapping (Sus-VSM) analysed the production process for sustainability performance. A sustainability strategy map (SSM) was created based on the five perspectives of the 4th generation balanced scorecard (BSC) approach and the results from the case study. Findings: The research identified optimisation areas in the multi-jet-fusion (MJF) process, crafted tailored sustainability KPIs, and developed a SSM to seamlessly integrate sustainability initiatives into the company’s vision. Value: This contribution provides a structured methodology for selecting KPIs and offers a holistic approach to implementing Sus-VSM within the AM industry. The manuscript emphasises the need to incorporate a fifth perspective into the BSC and proposes a framework for developing a SSM. This study aims to guide AM companies toward a more environmentally responsible and socially conscious approach to manufacturing. Full article

Many asset-intensive organizations implement risk management strategies to mitigate potential hazards associated with physical asset failures, such as infrastructure deterioration or mechanical breakdown. As these physical assets’ risks can be treated with maintenance activities, properly evaluating the performance of maintenance management is of interest for risk management. Accordingly, this paper proposes a framework for the determination of Maintenance Performance Indicators (MPIs) to support the risk management of physical assets. The proposed framework included four main processes: Integrate performance evaluation guidelines, Review the maintenance management strategy, Define the performance indicators, and Assess maintenance across the MPIs. The ISO 55000 series for asset management and the Balanced Scorecard (BSC) approach were the guidelines considered. The ISO 55001 standard provides three assessment domains for performance evaluation: asset portfolio, asset management, and asset management system. The BSC approach identifies four performance evaluation perspectives that were integrated to address the requirements of one of these asset management domains. Then, the MPIs were defined for each of the performance evaluation domains in line with the maintenance management strategy toward the risk management of physical assets. Through a case study, the proposed framework was demonstrated considering the operational context of a Brazilian hydroelectric power plant. As a result, the proposed framework was shown to be consistent in systematically determining the MPIs that support risk management in organizations. Full article

Background: Prostate cancer (PC) is the most common cancer in men in 112 countries, and accounts for 15% of cancers. Because it cannot be prevented, the rise in cases is inevitable, and improvements in diagnostic pathways and treatments are needed, as there is still a shortage of cost-effective diagnostics and widespread oncologically safe treatment options with measurable quality. As part of the implementation of a Full Cycle of Care, instruments have been developed to achieve value-based medicine, such as consistent commitment to measurability. One of these instruments is the Balanced Scorecard (BSC). Here, we propose the first BSC for prostate cancer (PC) treatment. Methods: BSCs are used to assess performance in healthcare organizations across four dimensions: financial, patient and referrer, process, and learning and development. This study aimed to identify Key Performance Indicators (KPIs) for each perspective. A systematic literature search was conducted according to PRISMA guidelines using multiple databases and specific search terms to identify KPIs for PC care, excluding case reports and conference abstracts. In total, 44 reports were included in analyses and development of the PC-specific BSC. Results: In the present study, a PC-specific BSC and KPIs were defined for the four classic perspectives, as well as for a newly developed PC-Specific Disease and Outcome perspective, including patient-related parameters from the German Cancer Society and the International Consortium for Health Outcomes Measurement. In addition, the Process perspective includes KPIs of fulfillment of continuing education of residents and the metrics of structured training of the radical prostatectomy procedure in the Learning and Development perspective. Conclusions: The developed BSC provides a comprehensive set of perspectives for an Integrated Practice Unit or center in PC care, ensuring that the indicators remain manageable and applicable. The BSC facilitates value creation in line with Porter’s Full Cycle of Care by systematically collecting and providing economic, personnel, and medical results, actions, and indicators. In particular, this BSC includes KPIs of structured training of practitioners and metrics of the German Cancer Society, that recently proved to improve PC patients outcomes. Full article

The performance of supply chains significantly impacts the success of businesses. In addressing this critical aspect, this article presents a methodology for analyzing and predicting key performance indicators (KPIs) within supply chains characterized by limited, imprecise, and uncertain data. Drawing upon an extensive literature review, this study identifies 21 KPIs using the balanced scorecard (BSC) methodology as a performance measurement framework. While prior research has relied on the grey first-order one-variable GM (1,1) model to predict supply chain performance within constrained datasets, this study introduces an artificial intelligence approach, specifically a GM (1,1)-based artificial neural network (ANN) model, to enhance prediction precision. Unlike the traditional GM (1,1) model, the proposed approach evaluates performance based on the mean relative error (MRE). The results demonstrate a significant reduction in MRE levels, ranging from 77.09% to 0.23%, across various KPIs, leading to improved prediction accuracy. Notably, the grey neural network (GNN) model exhibits superior predictive accuracy compared to the GM (1,1) model. The findings of this study underscore the potential of the proposed artificial intelligence approach in facilitating informed decision-making by industrial managers, thereby fostering economic sustainability within enterprises across all operational tiers. Full article

The integration of circular economy (CE) principles within organizational strategies has become imperative for companies committed to sustainability and resource efficiency. This study explores the adoption of CE principles and the role of the balanced scorecard (BSC) as a facilitative tool. By contextualizing the significance of CE adoption, this paper reviews existing BSC models that incorporate sustainability aspects and evaluates software solutions for BSC implementation. Subsequently, a novel methodological framework was proposed. As a novelty, the strategic analysis included the use of a SWOT analysis. Once the situation was identified, BS 8001:2017 was used to define strategic objectives oriented towards the principles of a CE. Moreover, the proposed objectives were prioritized using the analytic network process tool. After completing the organizational and strategic analyses, the UNE 66175:2003 norm was incorporated to decide on the most appropriate indicators for each objective. Finally, to illustrate the proposed framework, a theoretical detailed case study was developed within the context of an industry specializing in the design and manufacturing of plastic packaging. The developed BSC was implemented using the selected software. This study demonstrated the convenience of establishing a methodology to guide decision making in the development and monitoring of the BSC. Full article

In today’s digital age, businesses are tasked with adapting to rapidly advancing technology. This transformation is far from simple, with many companies facing difficulties navigating new technological trends. This paper highlights a key segment of a comprehensive strategic model developed to address this challenge. The model integrates various planning and decision-making tools, such as the Balanced Scorecard (BSC), Objectives and Key Results (OKR), SWOT analysis, TOWS, and the Spherical Fuzzy Analytic Hierarchy Process (SFAHP). Integrating these tools in the proposed model provides businesses with a well-rounded pathway to manage digital transformation. The model considers human elements, uncertainty management, needs prioritization, and flexibility, aiming to find the optimal balance between theory and practical applications in real-world business scenarios. This particular study delves into the use of SFAHP, specifically addressing the challenge of effectively selecting the most suitable strategy among various options. This approach not only brings a new perspective to digital transformation but also highlights the importance of choosing the right strategy. This choice is crucial for the overall adaptation of businesses. It shows how carefully applying the SFAHP method is key. Combining this with a successful digital transformation strategy is essential. Together, they provide practical and efficient solutions for businesses in a fast-changing technological environment. Full article