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Balanced Scorecard and Its Application Through Strategic Management Perspective in Real Estate Industry

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Advances in Smart Grid and Renewable Energy (ETAEERE 2020, ETAEERE 2020)

Part of the book series: Lecture Notes in Electrical Engineering ((LNEE,volume 691))

Abstract

The main purpose of this paper is to design the strategic plan or road map to guide the management to implement BSC under three levels corporate, department and division in a real estate organization. For all three levels, the management will have their own performance measurement system (PMS) supported by BSC, but it must be always bonded with the company’s vision and mission to successfully embed in all three levels of the real estate company. This study explores various theoretical approaches and models of the strategic management with specific reference to the issues confronted by the real estate company. The 7s strategic planning and value chain models are used to determine the strategic themes of the real estate company. The upgraded Theory Z has been adopted to critically examine the cause and effect relationship between financial and non-financial quadrants of the BSC. The refined double-loop learning model has also been implemented to align a strategy and action of the management for solving the problems with alternative actions. Numerous related literature reviews revealed that BSC places the vision, mission and objective at the center to proliferate shareholder’s value through revamping financial and non-financial quadrants together. Besides, the questionnaire was also used to collect the data from employees of a company. The data was analyzed using statistical tool, and the topmost quadrants of the BSC have been identified as the management guidelines for formulating the strategic development plans.

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Authors and Affiliations

  1. School of Management, Maulana Abul Kalam Azad University of Technology, Kolkata, West Bengal, India

    Sushil Kumar Pareek

  2. Sikkim Manipal Institute of Technology, Sikkim Manipal University, Gangtok, India

    Samrat Kumar Mukherjee

Authors
  1. Sushil Kumar Pareek
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  2. Samrat Kumar Mukherjee
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Correspondence to Sushil Kumar Pareek .

Editor information

Editors and Affiliations

  1. Sikkim Manipal University, Gangtok, Sikkim, India

    Karma Sonam Sherpa

  2. Department of Electrical and Electronics Engineering, Sikkim Manipal Institute of Technology, Rangpo, Sikkim, India

    Akash Kumar Bhoi

  3. Victoria University, Melbourne, VIC, Australia

    Akhtar Kalam

  4. School of Computer Engineering, KIIT University, Bhubaneswar, Odisha, India

    Manoj Kumar Mishra

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Pareek, S.K., Mukherjee, S.K. (2021). Balanced Scorecard and Its Application Through Strategic Management Perspective in Real Estate Industry. In: Sherpa, K.S., Bhoi, A.K., Kalam, A., Mishra, M.K. (eds) Advances in Smart Grid and Renewable Energy. ETAEERE ETAEERE 2020 2020. Lecture Notes in Electrical Engineering, vol 691. Springer, Singapore. https://doi.org/10.1007/978-981-15-7511-2_7

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  • DOI: https://doi.org/10.1007/978-981-15-7511-2_7

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-15-7510-5

  • Online ISBN: 978-981-15-7511-2

  • eBook Packages: EnergyEnergy (R0)

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