APPLICATION OF BALANCED SCORECARD IN TEXTILE INDUSTRY

Abtract
Introduction
Liturature review
The balanced Scorecard (BSC) is a managerial tool developed by
economists Robert Kaplan and David Norton more than ten years
ago. It allows company managers and directors to implement
actions, in order to accomplish objectives through four
perspectives: Financial, Customer orientation, Internal Processes,
Innovation and Learning. TABLE 1 shows a Balanced Scorecard
with special reference to a typical textile company in developing
countries. Each perspective has its own strategic objectives and
related indicators. Someresults of the application of the Balanced
Scorecard are now explained.
Methodology
Result
Discussion
Conclusion
Abstract:
Purpose
The primary objective of this paper is to develop a balanced scorecard (BSC) model that is designed and delimited
for performance measurement in the food supply chain.
Design/methodology/approach
The research methodology is a combination of literature analysis, Delphi technique and case studybased research.
Starting from the literature concerning performance measurement and metrics, the food industry and the BSC model,
the relevant financial and nonfinancial indicators, suitable to be used for companies belonging to the food industry,
were first identified. Indicators were submitted to a panel of experts, which operated following the Delphi technique, to
gather possible suggestions or amendments. In its final form, the resulting BSC model was tested on two companies
operating in the food industry, for a final validation.
Findings
Results of the case studies show that the companies examined have a similar view for three of the four perspectives
of the BSC, which can be thus considered as validated. Conversely, some diverging results were observed concerning
the learning and growth perspective.
Research limitations/implications
By focusing on the specific context of the food supply chain, this study completes previous works, which proposed a
generic BSC model for supply chain management. On the other hand, the fact that a specific industry field was
examined could be seen as a limitation of the work as the results presented are not suitable to be generalized or
extended to other contexts, although some extrapolations can be made.
Originality/value
The paper provides a structured performance measurement system tailored for the food supply chain. The BSC
model developed could serve as a reference for the food industry, to establish applicable performance appraisal
indicators, and it is believed that both researchers and practitioners would benefit from the tool developed.