Balanced Scorecard (BSC) as a Strategic Performance Management Tool: Application in a Multinational Bank
Balanced Scorecard (BSC) as a Strategic Performance Management Tool: Application in a Multinational Bank

Summary/Abstract: The purpose of this study is to reveal a successful application process of Balanced Scorecard (BSC) method as a strategic performance measurement approach. In this study, theoretical information is given regarding the Balanced Scorecard (BSC) method which is one of the most modern methods. Additionally, the implementation of the BSC method, as a strategic performance management tool, will be explained in detail by a real practice example in a multinational bank in Turkey. The creation of the main structure of the BSC system and interlinkages with the company strategies, the establishment and roles of business unit, the creation of scorecards and KPIs, detailed definition of the KPIs, the establishment of IT-Aided BSC Management System and finally reporting of the scorecards is shown with real examples. The real case example shows that the multinational bank using the BSC method succeeded its strategic objectives by raising their rankings in the banking sector of Turkey from 24th place in 2010 to 10th place in 2020. Providing such information, this study would be a beneficial example of contributing the academic field and supporting the business organizations to apply the BSC in their strategic management processes.

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