A Modified Model of the Balanced Scorecard for the Jordanian Public Shareholding Industrial Companies

Waheed R. Al-Khatatneh, Mansour I. Al-Sa'aydeh

Abstract


A modified balanced scorecard (BSC) model was developed for measuring and evaluating strategic performance for the Jordanian Public Shareholding industrial companies. The model is composed of five key dimensions. The first four are the financial, customer, internal process and learning and growth. These dimensions represent the basic model’s dimensions to build and apply the balanced scorecards. The "company’s environment" component has been added as a fifth dimension proposed in this study. The modified model includes the formulation of each dimension into main strategic goals, the performance drivers to fulfill these goals and lagging performance measurements to evaluate the achievement level of each goal. The extent of suitability of this modified model for application by the managers of Jordanian Public Shareholding industrial companies has been tested also.
The main results of the study are: All companies managers highly appreciate the use of all (BSC) measures in strategic planning and performance evaluation. All variables of the modified BSC model have been highly evaluated by the study sample except some of the variables related to company’s environment dimension.
Based upon the above results of the study, several recommendations were developed. The main one is that it is necessary to adopt the modified BSC model by the managers of Jordanian industrial public companies in order to tight together strategic goals of the company, with performance drivers and measures

Keywords


Modified Balanced Scorecard, Financial Dimension, Customer Dimension, Internal Process Dimension, Learning and Growth Dimension, Company’s Environment Dimension, Jordanian Industrial Companies

Full Text:

PDF

Refbacks

  • There are currently no refbacks.