A study on the balanced scorecard implementation of the SDIF
Nizamulmulk Gunes 1 & Erdinc Percemli 2
1 Assoc. Prof., Department of Audit, Savings Deposit Insurance Fund, Istanbul, Turkey
2 Department of Audit, Savings Deposit Insurance Fund, Istanbul, Turkey
Received: 7 November 2021 Revised: 27 February 2022 Accepted: 3 March 2022 Available Online: 20 March 2022
Keywords: balanced scorecard, strategic performance management, strategy map.
JEL classification: D23, L38
Citation: Gunes, N. & Percemli, E. (2022). A study on the balanced scorecard implementation of the SDIF, Review of Socio-Economic Perspectives, Vol 7(1), 1-13.
There are several management methods and tools transferred from private sector to public sector in order to attain efficiency and effectiveness with the movement of New Public Management. One of those methods is the Balanced Scorecard (BSC). While the BSC is highly recommended to both private and public organizations, it must be acknowledged that public organizations have a completely different structure and nature in some respects. Furthermore, developed countries’ organizations could not have the same traits as developing countries’ organizations do.
This is an empirical case study which aims to investigate and analyze the experience of the BSC implementation in Savings Deposit Insurance Fund (SDIF) -a kind of Financial Regulatory Organization (FRO)- from Turkey within focal points of applicability, success criteria, challenges, and benefits. In order to achieve this objective, qualitative research method was applied by analyzing organization’s data and conducting interviews. This research concludes that the BSC concept has some unclear points both theoretically and practically. Also, it is not an easy and straightforward system to implement. On the other hand, it can be assessed as a beneficial tool for public organizations, particularly in developing countries, to get the habit of setting objectives, making plans to reach those objectives, measuring performance against those plans and reviewing.
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