Strategic Management Thought

Developing Balanced Scorecard Strategic Objectives Based on Business Ecosystem in Iranian Banking Industry

Document Type : Research Paper

Authors

1 PhD candidate in strategic management, Tarbiat Modares University

2 Faculty member of Tarbiat Modares University, Tehran, Iran

3 Department of Business Management, Tarbiat Modares University, Tehran, Iran

4 southeastern university,boston

Abstract

Today, by shifting from traditional economy to innovation economy, strategic management requires a new mindset and interactive approach which appears in business ecosystem concept. Business ecosystem is a network of different players whose success and survival are linked together. This concept states that the organizations are not to be regarded as isolated players, but as a part of an ecosystem and their strategies should be designed in the light of interaction with other business ecosystem players. By adopting an interactive viewpoint the present research has attempted to define the strategic goals of balanced scorecard in Iranian banking system. The research methodology adopted here was of mixed type (qualitative and quantitative). The statistical population and sample are banking industry and Iranian banking experts respectively. Snowball tool has been applied for expert selection. In the first phase, 30 in-depth semi-structured interviews were conducted with banking domain experts and GT approach has been conducted for summarizing and grouping data. In the second phase, the collected strategic goals were corroborated by collecting 100 domain experts’ ideas through questionnaires. Cronbach's Alpha in SPSS has been used for reliability test. Finally, the business ecosystem-based balanced scorecard was developed. The important results of this research, which could be the innovative part, are identifying and explaining 22 strategic objectives including: 17 strategic objectives in organizational level and 5 strategic objectives in business ecosystem level for banking industry of Iran.

Keywords

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Strategic Management Thought
Volume 9, Issue 1 - Serial Number 1
May 2015
Pages 5-24
  • Receive Date: 16 December 2014
  • Revise Date: 21 December 2014
  • Accept Date: 03 January 2015