Performance Measurement Using Balanced Scorecard Concept On Co-Operatives: Implication In Indonesia (original) (raw)
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The Cooperatives Performance Indicators, Based on Balance Scorecard
Revista San Gregorio, 2020
The Objectives Measurement of Cooperation Performance Indicators of Balance Score Card-Based (BSC) is to know the performance of certified cooperatives in Jakarta (capitol of Indonesia). Specific targets to be generated from this research are the Measurement of Cooperative Performance Indicators that can measure the performance of the Cooperative at the moment and can be used as a consideration for future decision making in a sustainable manner. The research methodology used is descriptive, beginning with identifying and describing various aspects of cooperatives related to cooperative performance from a business side, such as marketing, operation/production, finance, human resources, legality, institutional, cooperation and so on. This research was carried out through a survey in several certified cooperatives in Jakarta that was sampled. The data were collected by using questionnaires, interviews and observation and in-depth interviews. The results of this study indicate in gener...
Diversitas Journal, 2024
The Balanced Scorecard (BSC) has been studied a lot as a tool for measuring performance in corporate organizations around the world, but it hasn't been studied much in cooperatives. The goal of this research was to ascertain how multipurpose cooperatives perform using the BSC. A total of eighteen cooperatives were purposively chosen as samples for this research, where members, employees, and managers served as the respondents. The study utilized a descriptive research design whereby the researcher collected and analyzed financial statements for three years, made use of surveys to elicit responses from respondents, and conducted document analysis to further enhance the result. Results showed that the cooperatives' financial performance obtained a "fair performance" rating using the Cooperative Development Authority's (CDA) performance standards. On average, cooperatives exhibit a moderate level of financial performance, and neglecting certain aspects of their financial operations may result in circumstances that pose a risk to their sustainability. A significant likelihood of failure exists, although it has not yet been proven. Members/customers aspect received very satisfactory performance, while internal business processes and learning and growth received excellent results. This investigation revealed that despite financial performance issues, cooperatives met member expectations, provided outstanding business processes, and provided staff learning and development, contradicting Kaplan and Norton's assertion that optimal performance in all three areas leads to financial success. Weak areas were also identified along with the four BSC perspectives that need intervention, and strategies were devised to enhance and improve performance utilizing the BSC framework. It is recommended that cooperatives adopt strategies in terms of improving their performance, particularly in the identified weak areas, and meeting their objectives and goals as set by CDA. Future researchers may consider discovering cooperatives' performance in other social aspects.
Cooperative conditions in Sri Lanka are generally still weak, both internal and external conditions. Cooperatives face similar challenges as business organization. To strengthen cooperative institutions, cooperative performance measurement systems may adopt the performance measurements of business organization in the same industry. One of the measurement systems is balanced scorecard. Cooperatives can implement it as a tool to monitor, measure, and track the alignment of financial and nonfinancial performance. Balanced scorecard makes cooperative business strategy more concrete and measurable. In this view, this paper aims to analyze the organizational performance of MultiPurpose Cooperative societies (MPCS) in Jaffna District based on four perspective approaches of balanced scorecard. The study is conducted through questionnaire survey and interview on cooperative management& customers. The results of the study showed that the MPCS' performance based on four perspectives of balanced scorecard is below the moderate level and results from the operational hypotheses indicated that total perspectives have a significant relationship and impact with organizational performance of MPCS. Finally. The study emphasizes that the MPCSs have to improve their activities in connection with financial performance, customer relations, internal process and learning and growth.
Use of Balanced Scorecard in Cooperatives
The cooperatives have some particularities connected to their principles, including the issue of self-management. Through self-management it is defined that the members themselves, who are the “owners” of the cooperative, perform the management of the same. Strategic management, which plans the future and monitors results, is an important tool for the success of cooperative organizations. In this context, the Balanced Scorecard (BSC) has proven to be a useful tool for planning and monitoring financial and non-financial indicators. In the article, a systematic review was performed to verify the application of the Balanced Scorecard in cooperatives. The aim of the study was to conduct a theoretical analysis of the scientific discussion about the application of BSC in cooperative organizations. The result found in the 13 articles studied shows that it’s possible and useful to apply BSC in cooperatives. Despite the success of the application, the number of articles on the subject can be considered small, and nothing specific was found to evaluate specific indexes of cooperativism, being something to be analyzed as a current limitation of the tool for use in cooperatives.
International journal of academic research in business & social sciences, 2016
Cooperatives in Malaysia have crucial roles in developing business systems, and making it possible for the country to join the global cooperatives society and sophisticated economies. Therefore, top management in Malaysian Cooperatives are aggressively designing and executing their strategic plan through performance measurement system. This paper will discuss whether contemporary performance measurement system can be apply in Malaysian cooperatives. The existence of strategic, comprehensive and dynamic in cooperative performance measurement system is needed as it will provide co-operatives' management with valuable insights the role of contemporary performance measurement system model which could assist them in aligning their performance measurement system.
Philippine Social Science Journal, 2022
Cooperatives are vital in the economy, hence, it is practically important to examine the factors that may influence their performance. This study focused on determining the factors that predict cooperatives' perceived effectiveness in terms of financial and social performance in Eastern Visayas, Philippines. A random sampling technique was employed to gather primary data to 438 respondents composed of the board of directors, managers, officers, and members. For data analysis, Partial Least Square-Structural Equation Modeling (PLS-SEM) was utilized to analyze the Likert scale data based on the survey participants' responses. Results showed that cooperatives' governance, members' participation, and training and development significantly predicted cooperatives' perceived effectiveness in terms of financial and social performance. Hence, management of the cooperatives should develop a culture of effective governance that includes transparency, management accountability, and members' democratic participation; encourage members' economic participation and; conduct periodic training to help the cooperatives attain their social and financial goals. This article published by Philippine Social Science Journal (PSSJ) is licensed under a Creative Commons Attribution-Noncommercial 4.0 International (CC BY-NC 4.0). You are free to share (copy and redistribute the material in any medium or format) and adapt (remix, transform, and build upon the material). Under the following terms, you must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use. You may not use the material for commercial purposes.
Asia Pacific Journal of Academic Research in Business Administration, 2021
Cooperative is a profitable opportunity, which gives the reason why many are motivated to establish and join. Today, establishing a business is quite tough due to constraints in the capital and it paves the way for an individual to look for other individuals, which can help them to jumpstart the undertaking at the possible lowest cost to organize. The output of this study would be a proposed management performance framework based on the variables that are significant to the members’ satisfaction, management and financial performance of cooperatives. This model can be a basis for strategic planning in fulfilling the mission, vision, goals and objectives of a cooperative. This research determines the service quality, managerial and financial performance of cooperatives in Lipa City. Descriptive type of research method was used to gather information in assessing respondents from the cooperative. Respondents with higher level of assessment on service quality are also those respondents with higher level of assessment on managerial performance. Cooperatives are efficient in its profitability performance, have institutional strength, majority of the assets are considered to be earning assets and are able to generate earnings from its operations.
The New Mechanism for Performance Evaluation of the CoOperatives
Co-operatives are exceptional type of organization because of their purpose for existence. They are running business based on predetermined norms called "Co-operative value and principles". In point of fact, if they depart from this so-called value system, there is no cooperative continuation hereafter. One of the special features behind this body is the owner (member) plays dual role with it, as an owner and the foremost customer segment. Because of those surroundings they cannot construct profit maximization as an organizational objective. But really, they have to earn some profits for the survival and long term advancement of the unit. Because of this foundation and special purpose for existence, they can be recognizing as "Co-operative business" by combing the purpose of the entity and its operation. Thus performance of this special entity must be measured through unique mechanism appropriate to the specialty. This article suggests new mechanism for the performance evaluation named "Co-operative performance matrix" by combining business and co-operative value performances.
The Pharmaceutical Cooperatives Performance Indicators, Based on Balance Scorecard
2020
The Objectives of this research to know the performance of cooperatives in Jakarta (capitol of Indonesia) with used the Balance Score Cards. The research methodology used is descriptive survey with identifying and describing various aspects of cooperatives related to cooperative performance from a business side, such as marketing, operation/production, finance, human resources, legality, institutional, cooperation and so on. The results of this study indicate in general from every perspective of Balance Score Card that from the perspective of the financial, has average size of 3.223, on a scale of 1-5, it means that cooperatives in Jakarta when viewed from a financial perspective are in a fairly good position in carrying out financial management. meanwhile from Marketing management perspective: 1.912, from the perspective of Internal Business Process: 1.765, and from a Growth and Learning perspective is 2,370. This research was carried out through a survey in 62 sample pharmaceutica...