Evaluating the balanced scorecard perspectives: A study of selected Philippine flour milling companies

• Main Authors: Buban, Angeleen, Sy, Caryl Kate Leang, Poon, Stephanie Dy, Chua, Al Carney Eleazar Lim
• Format: text
• Language: English
• Published: Animo Repository 2023
• Subjects: Strategic planning; Flour industry—Philippines; Accounting
• Online Access: https://animorepository.dlsu.edu.ph/etdb_acc/82; https://animorepository.dlsu.edu.ph/context/etdb_acc/article/1135/viewcontent/Evaluating_the_Balanced_Scorecard_Perspectives_A_study_of_selected_Philippine_flour_milling_companies.pdf
• Institution: De La Salle University

The flour milling industry in the Philippines heavily depended on imported wheat to meet the growing demand for flour, particularly in the bakery sector. The industry's 21 companies faced increasing competition and had to prioritize quality and consistency. The balanced scorecard (BSC) was a useful performance measurement tool that provided a holistic view of quantitative and non-financial data, enabling better decision-making in the flour mills division. By examining the interrelationships among the BSC perspectives (financial, customer, internal process, and learning and growth), the flour milling industry could improve its overall performance, align its strategies, make informed decisions, and gain an edge over its competitors. The study aimed to investigate the interrelationship of the balanced scorecard as measured by Spearman's Rank correlation. The research utilized both primary and secondary data to gather pertinent information. Primary data collection involved surveys with personnel from multiple departments. On the other hand, financial statements, online and scholarly articles, and journals served as secondary data sources. From the four flour milling companies surveyed, the results of the study identified that all four perspectives of the balanced scorecard had a significant relationship with one other. Additionally, the variables used to measure each perspective had satisfactory results based on the average mean score of the respondents.