This paper aims at studying the implementation of a management control system in a Piedmont Cooperative Bank: the system is based on Balanced Scorecard model (BSC) suggested by Kaplan and Norton(1996, 2001) applied in the services sector.
The paper starts with the research method and the theoretical background concerning the business model of Cooperative Banks.
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The balanced scorecard overcomes the limitations of traditional performance measures by complementing financial measures of past performance with measures of future drivers of performance.
The balanced scorecard is more than just a measurement tool; it is a system that focuses the efforts of staff, from different levels of the organization, towards achieving the company’s vision and strategic objectives.The authors proposed some future research needs required in this area.The use of the BSC developed here is limited to the bank studied; however, the approach could trigger off reflections among policy makers and other banks to start using the BSC.Representatives of major banks in Bahrain were interviewed to explore the ways in which they measure the performance of their online banking divisions.The study concludes by proving a list of recommendations to the financial sector.DOI: https://doi.org/10.5430/ijba.v3n4p44 International Journal of Business Administration ISSN 1923-4007(Print) ISSN 1923-4015(Online) Copyright © Sciedu Press To make sure that you can receive messages from us, please add the 'Sciedupress.com' domain to your e-mail 'safe list'.If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.The study provides a basis for integrating measures of the BSC and offers guidelines for implementation of a performance management system and how to adjust the strategic model map to fill the existing gaps.A generic online banking strategy model map is formulated to show the strategic objectives and relevant measures of the scorecard perspectives.Traditional measurement systems have been based on accounting models and have measured the financial performance of firms.However, in a global competitive environment, performance needs to be measured through financial and operational perspectives.