A Conceptual Model to Explain Strategic Alignment in the Financial Services Based on Balanced Scorecard

• Autorzy: Mohammad Safari
• Języki publikacji: EN

Abstrakty

EN

The lack of alignment of organization elements towards the organizational strategy leads to poor execution. When the different departments of the organization have different strategies that are different directions and implementations, the whole organizational purposes and visions rarely could archive. The main purpose of this research is to present a valuable approach for success organizations that we named strategic alignment. For this purpose we use the Balanced Scorecard (BSC). The Balanced Scorecard is a management tool used to translate the corporate strategic mission and vision into a set of quantifiable indicators of performance. In other words, it is intended to explain what to do and how to do it. The real contribution of a Balanced Scorecard program is to link the objectives in each of four perspectives: financial, processes, customers, and growth and learning. In this study using a valid questionnaire and also with focus group method the final theoretical research model was presented. Results of this research showed that BSC is a useful tool and has high validity and reliability for strategic alignment for financial organizations. The results are applicable for both academicians and practitioners for managing strategies and related programs and tactics in the financial institutions and organizations. (original abstract)

Słowa kluczowe

EN

Financial services; Banking sector; Balanced Scorecard (BSC)

PL

Usługi finansowe; Sektor bankowy; Strategiczna Karta Wyników

• Czasopismo: International Letters of Social and Humanistic Sciences (ILSHS)
• Rocznik: 2015
• Tom: 2 (1)
• Strony: 98--108

Twórcy

autor

Mohammad Safari

Bibliografia

• Aghaei, M.; Vahedi, E.; Safari-Kahreh, M. & Pirooz, M. (2014). An Examination of the Relationship between Services Marketing Mix and Brand Equity Dimensions. Procedia-Social and Behavioral Sciences, 109, 865-869.
• Aghaie, M.; Vahedi, E.; Asadollahi, A. & Safari-Kahreh, M. (2014). An empirical Investigating to Effects of services Marketing mix on Brand Dimensions in Order to enhance brand Equity in the Tehran's Chain Stores. Research Journal of Recent Sciences, 3(2), 43-60.
• Andersen, H. and N. Savic. (2004). Effective quality management through thirdgeneration balanced scorecard. International Journal of Productivity and Performance Management, 53(7), 634-645.
• Ayuso, S., Rodriguez, M.A., Ricart, J.E. (2006). Responsible competitiveness at the 'micro' level of the firm - Using stakeholder dialogue as a source for new ideas: a dynamic capability underlying sustainable innovation. Corporate Governance, 6(4), 475-490.
• Chen, C. and Jaw, Y. (2009). Building global dynamic capabilities through innovation: A case study of Taiwan's cultural organizations. Journal of Engineering Technological Management, 26, 247-263.
• Lawson, B., Samson, D. (2001). Developing innovation capability in organizations: a dynamic capabilities approach. International Journal of Innovation Management, 5 (3), 377-400.
• Olascoaga, E. (2008). Dynamic Strategic Alignment: an integrated method. Handbook of Collaborative Management Research, Sage Publications online.
• Porter, M.E. (1996). What is Strategy?. Harvard Business Review, 61-78.
• Rodriguez, B. (2008). A framework to align strategy, improvement performance, and customer satisfaction using an integration of six sigma and balanced scorecard. A PhD dissertation, Orlando, Florida.
• Safari, M. (2015). Customer Lifetime Value to managing marketing strategies in the financial services. International Letters of Social and Humanistic Sciences, 1(2), 164- 173.
• Safari-Kahreh, M. & Safari-Kahreh, Z. (2012). An Empirical Analysis to Design Enhanced Customer Lifetime Value Based on Customer Loyalty: Evidences from Iranian Banking Sector. Iranian Journal of Management Studies, 5(2), 145-167.
• Safari-Kahreh, M.; Ahmadi, H. & Hashemi, A. (2011). Achieving competitive advantage through empowering employees: An empirical study. Far East Journal of Psychology and Business, 3(3), 26-37.
• Safari-Kahreh, M.; Tive, M.; Babania, A. & Hesan, M. (2014). Analyzing the Applications of Customer Lifetime Value (CLV) based on Benefit Segmentation for the Banking Sector. Procedia-Social and Behavioral Sciences, 109, 590-594.
• Safari-Kahreh, Z.; Shirmohammadi, A. & Safari-Kahreh, M. (2012). An empirical study to analyze customer relationship management strategy using balanced scorecard. Management Science Letters, 2(5), 1603-1612.
• Seyed-Javadin, S. R.; Raei, R.; Iravani, M. J. & Safari, M. (2014). An explanatory analysis to identify and prioritize the challenges of Islamic Banking implementation: the case of IR Iran. International Letters of Social and Humanistic Sciences, 24, 45-55.
• Seyed-Javadin, S. R.; Raei, R.; Iravani, M. J. & Safari, M. (2014). Presenting a conceptual model to explain the role of strategic management and planning in Islamic banking competitiveness. International Letters of Social and Humanistic Sciences, 26, 46-56.
• Thompson S.H. & Teo, Wing Y. C. (2001). Assessing the impact of using the Internet for competitive intelligence. Information & Management, 39(1), 67-83.
• Yuksel, I., Dagdeviren, M. (2007). Using the analytic network process (ANP) in a SWOT analysis - a case study for a textile firm. Information Science, 177(16), 3364- 3382.