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The purpose of this article is to establish a framework with its related measures for the development of a balanced scorecard (BSC) for auditing firms. A BSC was developed providing the detailed measures for performance evaluation comprising five key elements: learning and growth, clients, internal business processes, financials, and audit-related...
Context in source publication
Context 1
... official management letter printed on the firm's letterhead should be addressed to each client after each engagement expressing all recommendations identified and adding value to their clients' business. Table 2 presents the proposed objectives and measures for the internal business process aspect. Furthermore, the customers' assessment and relationship form the third component of the BSC. ...Similar publications
Corporate ethics is an important part of corporate sustainable development. Sustainability is not only about the environment but also about the well-being of employees, including job satisfaction (JS), the Psychological contract (PC), etc. Among them, to organize relationships with other stakeholders, the unethical pro-organizational behavior (UPB)...
Citations
... H3 hypothesizes that superior performance in the supply chain area results in overall superior performance in the company. Balanced scorecard has been one of the most popular tools in practice to evaluate company performance (for example, Camilleri 2021; Hegazy et al. 2020;Nazari-Shirkouhi et al. 2020). It looks at meeting the company's strategic objectives with the help of a balanced focus on financial performance, customer satisfaction, internal process efficiency, and innovation/learning. ...
The relationship between the effective management of supply chains and overall organizational success is not fully explained in the literature. The differences in the effectiveness of supply chains as well as the corporate social responsibility (CSR) of supply chain companies in North America, Europe, and Asia Pacific are not broadly studied. This article attempts to bridge that gap in the literature using data from the Gartner Supply Chain Group, Brand Finance, American Consumer Satisfaction Index, and Bloomberg Finance. Pertinent statistical tools including multiple regression, ANOVA, t-tests, and chi-square tests were utilized in the study. SCM top performers were found to have higher customer satisfaction than their industry counterparts; supply chain variables used currently do not have a statistically significant impact on the overall success of those companies; North American companies have experienced significantly higher supply chain effectiveness than their counterparts in Europe and Asia Pacific; and European supply chain companies are significantly ahead of companies in America and Asia in the area of CSR. The findings can help managers in companies to benchmark with their global peers. The main contribution of this research is that it demonstrates the value of supply chain effectiveness while underscoring the need for further research to link supply chain effectiveness with organizational performance. Supply chain managers need to explore operational or internal process metrics that have a more significant impact on overall company success.
... Brkan (2023) argues that more still needs to be done to address the misuse of personal data for the purposes of political campaigns. Furthermore, Hegazy (2021) suggests that there is a lack of ethical behaviour in the use of big data by political parties when analysing voter data. The practical application of big data for political campaigning involves a number of major stakeholders, including political parties, data science firms, social media, and maybe even search engines, as well as government bodies that may be sharing voter data. ...
... Voter profiling is important in political campaigns since it involves learning more about specific individuals' ideas, values and voting tendencies. Additionally, big data analytics has the ability to use algorithms to generate neuromarketing (Hegazy, 2021). This was demonstrated in Donald Trump's 2016 presidential campaign, which was able to seize control of American political customers' thoughts and influence their votes. ...
E-campaigning has become increasingly popular within the political space globally through the use of social media. Political parties currently use this system to solicit votes and reach a greater audience. Traditional political campaigning in South Africa continues to be under threat due to a lack of digitization and digital transformation. This has contributed to low voter turnout and a significant reduction in the percentage of young people coming to vote when they can simply vote and be reached in a digital manner. This influences the decisions that are made on behalf of people that do not vote and their voice fails to be heard in development efforts that are implemented by people in power. Big data analytics is able to bring many benefits to political campaigns such as voter profiling, microtargeting and fundraising among the many other benefits that come with the technology. The investigation was carried out using a scoping review of the literature and the resulting data was analysed using thematic analysis. The results show that big data analytics, as a component of the digital transformation, is advantageous for political parties in South Africa, allowing them to participate in the digital transformation. The utilisation of e-campaigning could contribute to an increase in the numbers of young voters that participate in elections, especially since the adoption of digital technologies remains highest among the youth around the world. Additionally, political campaigns could greatly benefit from the integration of big data analytics, adding value through the digital transformation. This review indicates that big data analytics as a component of digital transformation is beneficial to e-campaigning in order to attract the entire population of potential voters.
... Conversely, the BSC connected traditional financial performance data to additional performance criteria like customer satisfaction, processes within the organization, and business development in a way that enhanced competitive advantage (Hegazy et al., 2022;Kaplan & Norton, 2007). Using a balanced scorecard, companies could now link performance data to short-term actions and long-term strategy. ...
Plain Language Summary
The Balanced Scorecard for OD and Change
Purpose: This study explores the limitations, assumptions, and expectations of implementing a BSC within organizations. Methods: In order to address the research questions and contribute new knowledge to existing research, we utilized an integrated literature review approach. This study extends across the fields of organization development, organizational change, human resource development, and organizational behavior. In addition, we also reviewed actual data sources encompassing information on several fortune 500 companies to obtain information on actual organization experience. Conclusions: The Balanced Scorecard is an effective OD &C and strategic planning and management tool that helps organizations reach their goals and objectives by identifying the organization’s needs and aligning them with its most essential assets, that is, the people, customer relationships, and the capacity for innovation. The use of the Balanced Scorecard has steadily increased over the years as it showed organizations the benefit of analyzing intangible assets. Implications: Using systems theory and thinking to improve the BSC can provide organizations with a more comprehensive and nuanced understanding of their performance and the factors that influence it and can help organizations to develop more effective strategies for improving performance and achieving their goals. Limitations of your study. Our study used Integrated Literature Review. One limitation of an integrated literature review approach in addressing our research questions is that it may not be as comprehensive as other types of reviews, such as a systematic review or meta-analysis. However, the use of ILR was necessary as we did not focused on a specific research question but multiple research questions to guide an inquiry to achieve the purpose of the study.
... Three studies suggest the use of many statistical methods, such as the mean, standard deviation, coefficients of variation, LR, Student's t-test, covariance analysis, analytic data, confirmatory factor analysis (CFA), and structural equation modeling (SEM). The latter two use the following indices: goodness-of-fit index (GFI), modified goodness-of-fit index (AGFI), comparative fit index (CFI), normalized fit index (NFI), index of relative fit (RFI), incremental fit index (IFI), Tucker Lewis index (TLI), residual root mean square (RMR), residual root mean square approximation (RMSEA), chi-square, and significance level [38][39][40]. To clarify some of the mentioned statistical methods, structural equation modeling (SEM) is a technique used in behavioral sciences that can be applied within the BSC model to comprehend and make decisions related to marketing and customer behavior. ...
Simple Summary
Statistical predictive models using one of the most important strategies, known as results-based management (RBM), are relevant for improving the quality of medical services and could be used with cancer data statistics to monitor and evaluate children with cancer. We provided a comparative analysis of three predictive models that are considered robust in the literature. We also provided a tool to identify new medical cases that confirm a forecast increase or decrease in certain performance indicators and can convert data into useful information for decision-making; we propose to apply this approach to cancer data statistics at one of the National Institutes of Health in Mexico City. Our findings show that from an RBM-based perspective, predictive models are a valid and reliable instrument to forecast medical performance indicator results and can be applied to monitor and evaluate children with cancer.
Abstract
Predictive models play a crucial role in RBMs to analyze performance indicator results to manage unexpected events and make timely decisions to resolve them. Their use in Mexico is deficient, and monitoring and evaluation are among the weakest pillars of the model. In response to these needs, the aim of this study was to perform a comparative analysis of three predictive models to analyze 10 medical performance indicators and cancer data related to children with cancer. To accomplish these purposes, a comparative and retrospective study with nonprobabilistic convenience sampling was conducted. The predictive models were exponential smoothing, autoregressive integrated moving average, and linear regression. The lowest mean absolute error was used to identify the best model. Linear regression performed best regarding nine of the ten indicators, with seven showing p < 0.05. Three of their assumptions were checked using the Shapiro–Wilk, Cook’s distance, and Breusch–Pagan tests. Predictive models with RBM are a valid and relevant instrument for monitoring and evaluating performance indicator results to support forecasting and decision-making based on evidence and must be promoted for use with cancer data statistics. The place numbers obtained by cancer disease inside the main causes of death, morbidity and hospital outpatients in a National Institute of Health were presented as evidence of the importance of implementing performance indicators associated with children with cancer.
... Many ways can be used to assess performance such as Key Performance Indicator, Balanced Scorecard, Malcolm Baldrige, etc. (1) Performance measurement with the Balanced Scorecard has 4 main components examined, namely finance, customers, internal business processes, and organizational growth learning. Balanced Scorecard is widely used because in addition to using past data in conducting performance evaluations and can plan future improvements (Hegazy, Hegazy, & Eldeeb, 2022). The Balanced Scorecard can also be used to compare performance between hospitals which is useful for group hospitals, so researchers take performance measurement research with this Balanced Scorecard assessment (Gawankar, Kamble, & Raut, 2015). ...
Emergency Department (IGD) is the face of a hospital (RS). Good hospital emergency room services will result in patient satisfaction and the community around the hospital, so that the hospital becomes an option as a health facility. The performance of a hospital emergency room needs to be assessed objectively so that continuous efforts can be made to improve services. Balanced Scorecard (BSC) assessment can be used in service assessment in organizations such as hospitals or parts of organizations such as emergency room hospitals. This study aims to determine the components in emergency room services that play the most role in achieving the performance of emergency room services that support hospital performance. This research method is a scoping review using literature studies using keywords from the Balanced Scorecard AND Hospital AND Emergency with literature search strategies from the databases Ebsco Host, Embase, Scopus, Pubmed, Proquest, and Google Scholar. The results of the study contained 6 (six) appropriate articles after screening using PRISMA 2020 Flow Diagram. BSC either independently or combined with other methods can be used as performance monitoring in the health sector both in hospitals and in one of the units such as the Emergency Installation. There are 4 perspectives, namely: finance, customers, internal business processes and growth learning, where it is found that the education factor of staff training is the most widely intervened approach that results in improving the performance of emergency rooms and hospital finances. Further research suggestion is that further research is needed to assess the other three factors in the Balanced Scorecard that will effectively improve performance in other units of RS.
... For example, Szóka (2018) uses its original form to describe the main factors to address in the I4.0 strategy (e.g., automation, motivation of employees). Other authors, such as Frank et al. (2002) or Hegazy, Hegazy, and Eldeeb (2022), extended the BSC with an additional perspective (for sustainability and corporate ethics, respectively), while Aldea et al. (2018) combined the BSC and the ArchiMate language to develop a more detailed strategy map. Additionally, Frederico et al. (2021) adopted the BSC for I4.0 performance measurement. ...
... The artifact must be informed by theories (G5) and aligned with the needs of the context, evolving iteratively (G6): we have departed from the original BSC (Kaplan and Norton, 1996) and proposed an extension to address I4.0-related strategy aspects that are not well served by the four traditional perspectives. We sought inspiration from the structure proposed by Frank et al. (2002) and Hegazy, Hegazy, and Eldeeb (2022), including a new dimension. As previously discussed, a team of academics and practitioners worked together to iterate on extending the original BSC and evaluate how the resulting artifact would fit the organizational problem and the results adequately communicated (G7). ...
Maturity models are essential tools to evaluate Industry 4.0 readiness. However, they have limitations in supporting organizational strategies over time and are insufficient to create company-specific Industry 4.0 roadmaps. This paper presents a research project to steer Industry 4.0 transformation in a leading paper pulp company listed on the Euronext Lisbon stock exchange. The contribution to the body of knowledge is a novel approach for Industry 4.0 adoption that extends the Balanced Scorecard with a fifth perspective and exposes the value of maturity model fragments: fractions of maturity models pertinent to a custom strategy. The proposed solution can support continuous improvement in long-term digital transformation strategies. Moreover, the lifecycle of maturity model fragments, namely,(1) dimensions and criteria elicitation,(2) personalization, and (3) strategic alignment, opens innovative prospects for maturity model design, tailorability, and practical relevance.
... From a larger questionnaire, the subscales referring to organizational performance measurement, designed according to the BSC model, were used for this work. More precisely, the four subscales aim at (Hegazy & Eldeeb, 2022;Hoque & James, 2000;Kaplan & Norton, 1992;Mavlutova & Babauska, 2013;Mavlutova & Babauska, 2012;Rahimi, Kavosi, Shojaei & Kharazmi, 2016): (1) Internal process perspective, which included three subscales: Customer Relationship Improvement (IRC) -5 items, Process Improvement (PI) -5 items, and Capability Utilization (CU) -6; (2) Innovation and continuous development perspective, represented by Organizational Capital (OC) -7 items and Human Capital (HC) -12 items; (3) Customers / citizens perspective, this dimension being analyzed through the lens of Customer Growth and Retention (CGR) -6 items and Customer Satisfaction (CS) -10 items and (4) Financial perspective, taking into account Financial Resources (FR) -8 items and Organizational Performance (OP) -6 items. All items were evaluated on a 5-point scale, from Total disagree to Total agree. ...
In today's fast-paced world, performance measurement is not just an option, it is a necessity. It is the only way to track progress, identify areas for improvement, and drive meaningful change. Our research objective is to conduct an analysis of organizational performance in the public and private sectors, using all four perspectives of the Balanced Scorecard (BSC) framework. This examination will encompass financial, customer, internal processes, and learning and growth perspectives. Therefore, we used a quantitative research method and administered a questionnaire to assess organizational performance in both the public and private sectors in all development regions of Romania. The data collected from the 233 respondents were tested to assess the distribution of the variables of interest, and a first element of research interest was to identify the differences between the public and private sectors in terms of organizational performance using the nonparametric Mann-Whitney test. The results of the research suggest that, overall, employees in private sector organizations value to a greater extent the recording of organizational performance viewed from all four perspectives of the BSC at the level of the organization from which they come, compared to those in public sector organizations.
... The Balanced Scorecard is used at the strategic level to translate an organization's vision and strategy into a set of defined, measurable, achievable, relevant, and time-bound (SMART) objectives and activities. These objectives and initiatives are subsequently passed down to lower levels of the organization, where they may be used to guide and monitor team and individual performance, [15], [24]. ...
The goal of this study was to investigate the use of the balanced scorecard scale in the development of a four-track measuring model to estimate the intellectual capital of industrial joint stock businesses listed on the Amman Stock Exchange. The sample for this study is made up of 59 industrial public joint stock businesses registered on the Amman Stock Exchange (ASE) between 2016 and 2020. A multiple linear regression analysis using EVIEWS software and the findings suggest that the balanced scorecard has a favourable influence on intellectual capital from the financial, customer, internal-business-process, learning, and growth perspectives. According to the study, make suggestions based on the results of our inquiry to increase the intellectual capital of these companies. This might involve revising the company's human capital management methods, strengthening customer relationships, or concentrating more on innovation and learning. The current study is the first of its kind to be conducted in a developing nation, such as Jordan, and the findings might be useful to other underdeveloped nations.
... Lignende forklaringer finnes på adopsjon av BI og størrelse. Hegazy et al. (2020) påpeker at mindre virksomheter ofte mangler avanserte informasjonssystemer for innsamling og måling. ...
Teori og praksis innen økonomistyring har endret seg som følge av teknologisk utvikling og nye digitale verktøy. I denne artikkelen utvikler vi diskusjonen gjennom å undersøke to sentrale konsept og verktøy i norske virksomheter: balansert målstyring og business intelligence. Basert på en spørreundersøkelse beskriver vi spredning, utforming og bruk av de to verktøyene. Resultatene viser at begge konsept har stor utbredelse i norske virksomheter. Undersøkelsen indikerer at de ofte brukes side om side. Det fører videre til en diskusjon om interaksjonen mellom balansert målstyring og business intelligence-systemer.
... 2. Literature review and development of research framework 2.1 Audit fees theory and functional form of audit fees model As per Jizi and Nehme (2018, audit fees are the conclusion of auditors' estimation of the client's control environment and their insistent endeavor for better audit quality. Besides, according to Hegazy et al. (2020), audit fees can be used to drive performance evaluation in auditing firms. The most complete model for audit pricing was provided by Simunic (1980), who developed a valid and reliable model of audit fee determinants. ...
Purpose
This paper aims to empirically examine the determinants affecting audit fees in the Egyptian context concerning different organizational forms and governance mechanisms.
Design/methodology/approach
This study adopts financial and non-financial data from 62 Egyptian firms listed on the Egyptian Stock Exchange from 2015 to 2020. The proposed audit fees model is developed by adopting panel data analysis to examine the effect of auditee, auditor and engagement attributes on audit fees. The validity of the proposed equation for determining audit fees on an annual basis was established by applying the fixed effect model results for the year 2020.
Findings
The results revealed that the most significant determinants that affect audit fees are liquidity, audit committee independence, audit report lag and the status of the audit firm. Audit fees of 95.7% are determined by these factors. The validation test proved that the proposed model was more accurate and closer to the estimated data at nearly 90.2%.
Practical implications
The results of this paper would send early signals to audit firms, stakeholders and regulators regarding the determinants of audit fees, and provide an objective standard for fee-setting to be used by stock market regulators and professional bodies, in determining a minimum amount of audit fees that ensure a reasonable level of audit quality.
Originality/value
To the best of the authors’ knowledge, for the first time, this paper empirically examines the determinants of audit fees in an emerging market like Egypt and presents evidence for a period of six years.
