Indicators for performance measurement in small and medium-sized enterprises

Hvolby, H-H; Thorstenson, Anders

doi:10.1243/0954405011518926

Cited by 35 publications

(48 citation statements)

References 3 publications

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“…Others have already implemented BSC in small business (Fernandes, Raja, & Whalley, 2006;Andersen, 2001;Gumbus and Lussier, 2006). On the other hand, some researchers who have assessed the implementation of BSC in SMEs claim that this model is not suitable for SMEs (McAdam, 2000;Hvolby and Thorstenson, 2000). All these studies will be explained in more details to differentiate between these points of view.…”

Section: The Ability Of Smes For Implementing Bscmentioning

confidence: 99%

“…On the other hand, Hvolby and Thorstenson (2000) claim the likelihood of significant difficulties in implementing the BSC in SMEs, as resources are typically scarce. They advocate the adoption of Quick Response Manufacturing (QRM) as an alternative to the BSC.…”

Section: The Ability Of Smes For Implementing Bscmentioning

confidence: 99%

“…They suggest that the advantage of this approach is that it is much simpler than BSC, focusing on lead time reduction as the only indicator of performance. The researcher argues that the study of Hvolby and Thorstenson (2000) is vague and does not take into consideration Cost-Benefit-Analysis when recommending adopting an approach other than BSC.…”

Section: The Ability Of Smes For Implementing Bscmentioning

confidence: 99%

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The Balanced Scorecard in Large Firms and SMEs: A Critique of the Nature, Value and Application

Basuony¹

2014

AFR

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During the last two decades, the use of the BSC has been widely spread in all sectors such as manufacturing and services; small and large firms; public and private sector. The idea of this paper is to investigate the contribution made by the Balanced Scorecard in both large firms and SMEs. This paper critiques the Balanced Scorecard from different points of view such as generations of the BSC, performance measures used, benefits of using BSC, scope of BSC, the design of BSC and strategy deployment. Finally, these different points of view were analyzed in order to reflect the implementation and application of BSC in large firms and SMEs.

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Section: The Ability Of Smes For Implementing Bscmentioning

confidence: 99%

Section: The Ability Of Smes For Implementing Bscmentioning

confidence: 99%

Section: The Ability Of Smes For Implementing Bscmentioning

confidence: 99%

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The Balanced Scorecard in Large Firms and SMEs: A Critique of the Nature, Value and Application

Basuony¹

2014

AFR

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“…They indicated that these results because these firms do not have the same pressures as large firms to meet the requirements and expectations of different stakeholder groups. In addition, Hvolby and Thorstenson (2001) indicated that financial measures are also likely to be more appealing to managers of the small and medium firms because these measures are available at a minimum cost and effort, generally relying on information which is readily provided by their financial accounting system. In addition, Perera and Baker (2007) reported that the small and medium firms have less need to develop and implement sophisticated measurement systems like balanced scorecard because managers of such firms are often able to manage the operational activities of the firms by themselves and take the necessary actions.…”

Section: Performance Measurement and Firm Sizementioning

confidence: 99%

Adopting of Balanced Scorecard by Manufacturing Firms in Bahrain: An Empirical Study

Mahmoud¹

2014

JFA

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Abstract:Performance measurements play an important role in understanding the determinants of successful performance of firms. The balanced scorecard is one of the integrated performance measurement systems that has wide acceptance in several countries. The prior studies investigated different aspects of balanced scorecard in the developed countries, but this study contributes to the performance measurement literature by collecting evidence about the extent of adoption the balanced scorecard in one of the developing countries such as Bahrain. Also, this study statistically examined the effect of a firm's size on adopting balance scorecard. The main instrument in surveying the Bahrain firms is a questionnaire. The findings rejected the null hypotheses. It is found statistically that there are differences between Bahraini manufacturing firms in adopting the balanced scorecard. Also the study found that there is effect of the firm's size with the growing use of non-financial measures by the BSC adopters.

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“…SMEs do not face the same degree of pressure as large organisations to meet the requirements and expectations of different stakeholder groups. Financial measures are also likely to be more appealing to entrepreneurs and managers of SMEs because they are available at a minimum cost and effort, generally relying on information which is readily available from their financial accounting system (Hvolby and Thorstenson, 2001). In addition, SMEs have less need to develop and implement multi-dimensional measurement systems because managers of such organisations are often able to oversee operational activities of the organisation by themselves and take the necessary actions.…”

Section: Introductionmentioning

confidence: 99%

An empirical study of the use and usefulness of financial, non-financial and subjective measures for performance evaluation in industrial companies in Bahrain

Joshi

Kumar

Al‐Ajmi

2011

IJMFA

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This study uses survey data from 47 industrial companies located in the Kingdom of Bahrain in order to examine to the extent to which the companies combine the use of financial, non-financial and subjective measures in evaluating their performance. The survey reports that, although ROI is the most popular financial measure, industrial companies use an integration of financial and non-financial measures. Firm size also influences the use of these measures and significant differences were observed among the large and medium size firms with respect to operations-related measures. With the exception of ROI in a few cases, the use of performance measures was not found to be significantly different between industries. However, significant differences are found in the use of measures, particularly in financial and non-financial measures, when the data is analysed by line of business (by number of divisions). Furthermore, the study indicates that the various types of measures have different impacts on important employee actions, such as 'contribute to the quality of the short-term operational decisions', 'contribute to the quality of the long-term strategic decisions', 'encourage gamesmanship or manipulation', 'encourage innovation' and 'provide focus on the goals of the departments in the firm'.

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Indicators for performance measurement in small and medium-sized enterprises

Cited by 35 publications

References 3 publications

The Balanced Scorecard in Large Firms and SMEs: A Critique of the Nature, Value and Application

The Balanced Scorecard in Large Firms and SMEs: A Critique of the Nature, Value and Application

Adopting of Balanced Scorecard by Manufacturing Firms in Bahrain: An Empirical Study

An empirical study of the use and usefulness of financial, non-financial and subjective measures for performance evaluation in industrial companies in Bahrain

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