From vision to variables: A scorecard to continue the professionalization of a family firm

Ken Moores, Justin B Craig

Research output: Chapter in Book/Report/Conference proceedingChapterResearchpeer-review

8 Citations (Scopus)

Abstract

This chapter builds on previous projects we have conducted that have concentrated on the key areas of corporate governance and strategic planning in family businesses. Whereas our previous projects have enlisted an additive approach (that saw the family perspective added to the business), this current research takes on an integrated approach and seeks to integrate issues that influence the family and business systems. Specifically, in this research we use innovation action research (Kaplan, 1998) to illustrate how the Balanced Scorecard that includes reference to family business challenges has been introduced and used to assist family members, board members and management in a third-generation Australian family-owned business by the lead author who is a non-executive director of the business. The process of scorecard development is discussed and the development ofthe core essence, vision and mission statements, strategic objectives, measures and targets,which can be scrutinized by family business stakeholders to ascertain consistency with the vision of the company, is outlined. A conceptual mapping framework is introduced and propositions that will guide future projects are detailed
Original languageEnglish
Title of host publicationHandbook of research on family business
EditorsP. Z. Poutziouris, K. Z. Smyrnios, S.B. Klein
Place of PublicationCheltenham
PublisherEdward Elgar Publishing
Pages196-214
Number of pages19
ISBN (Print)9781845424107
DOIs
Publication statusPublished - 2006

    Fingerprint

Cite this

Moores, K., & Craig, J. B. (2006). From vision to variables: A scorecard to continue the professionalization of a family firm. In P. Z. Poutziouris, K. Z. Smyrnios, & S. B. Klein (Eds.), Handbook of research on family business (pp. 196-214). Cheltenham: Edward Elgar Publishing. https://doi.org/10.4337/9781847204394.00021