A Balanced Scorecard Configuration of Business Model: A Case of Community-based Tourism
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Published:
Jun 22, 2019
Keywords:
Business Model Balanced Scorecard Community-based Tourism Entrepreneurship; Innovation
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Abstract
This paper provides the rationales, through deductive reasoning, to propose a balanced scorecard (BSC) configuration to support the design of business model that takes root in maximizing drivers of learning and growth. BSC is one of the most popular, ongoing dominant topic related to performance measurements. Its early concept has since evolved to a full strategic planning and management system. Using BSC to help design and implement business model can provide the advantages of a holistic value creation business system. The proposed BSC-driven configurational framework intercepts both theories of latent demand and theories of production and stands as a platform incorporating theories of governance. These three theories, as argued in the extant literature, should effectively help entrepreneurs and firms, and communities, develop new business ideas and models.As a target, this paper provides another angle of perspective and point of entry for contributing to the existing body of knowledge relating to business model and entrepreneurship. Numerous areas of implications are discussed which includeconcepts relating to integrated rural tourism (IRT), CBT amalgamation, tribe-based value co-creation, diffusion of knowledge and innovation, CBT governance through for instance accountability, co-operation and relationships among the networks of tribe members, coherence and sustainability drivers.
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Tan, C. C. (2019). A Balanced Scorecard Configuration of Business Model: A Case of Community-based Tourism. Asia Pacific Journal of Religions and Cultures, 3(1), 21–38. Retrieved from https://so06.tci-thaijo.org/index.php/ajrc/article/view/242050
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References
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Casadesus-Masanell, R., &Ricart, J.E. (2011). How to design a winning business model. Harvard Business Review, Jan-Feb: 100-107.
Chesbrough, H. (2010). Business model innovation: Opportunities and barriers. Long Range Planning, 43(2/3), 354-363.
Coulet, J.C. (2018). The organization activity: A foresight approach of theoretical knowledge evolution in management science. Technological Forecasting & Social Change (2018).https://doi.org/10.101b/j.techfore.2018.04.009.
Coombes, P.H., &Nicholson, J.D. (2013). Business models and their relationship with marketing: A systematic literature review. Industrial Marketing, 42, 656-664.
Ellstrom, R.E. (2001). Integrating learning and work: Problems and prospects.Human Resource Development Quarterly, 12(4), 421-435.
Fornell, C., & Larcker, D.F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39-50.
Gorchells, L. (2012). Business model renewal: How to grow and prosper by defying best practices and reinventing your strategy. USA: McGraw-Hill.
Gorman, C. (2006). The use of relationship marketing in developing network and co-operative links within tourism product marketing groups (PMGs). In L. Lazzeretti, &C.S. Petrillo (Eds.), Tourism local systems and networks: 149-168. Oxford, UK: Elsevier.
Harper, D. (1999). How entrepreneurs learn: A Popperian approach and its limitations. Working Paper 99-3. Denmark: Copenhagen Business School.
Hilliard, A.L. (1950). The forms of value: The extension of hedonistic axiology. New York: Columbia University Press.
Hooper, D., Coughlan, J., &Mullen, M. (2008). Structural equation modeling: Guidelines for determining model fit. Electronic Journal of Business Models, 6(1): 53-60.
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Joyce, A., &Paquin, R. (2016). The triple layered business model canvas: A tool to design more sustainable business models. Journal of Cleaner Production, 135: 1474-1486.
Kaplan, R.S., &Norton, D.P. (1996). Using the balanced scorecard as a strategic management system. Harvard Business Review, Jan-Feb: 75-85.
Kaplan, R.S., &Norton, D.P. (2004). The strategy map: Guide to aligning intangible assets. Strategy & Leadership, 32(5): 10-17.
Lee, Y.T., &Moon, J.Y. 2008. An exploration study on the balanced scorecard model of social enterprise. Asian Journal on Quality, 9(2): 11-30.
Lindgren, P., Taran, Y., &Boer, H. (2010). From single-firm to network-based business model innovation. International Journal of Entrepreneurship and Innovation Management, 12(2/3), 122-137.
Lueg, R. (2015). Strategy maps: The essential link between the balanced scorecard and action. Journal of Business Strategy, 36(2): 34-40.
Magretta, J. (2002). Why business models matter? Harvard Business Review, 80(5), 86-92.
Mintzberg, H., &Waters, J.A. (1985). Of strategies, deliberate and emergent. Strategic Management Journal, 6(3), 257-272.
Neilsen, C. 2011. Conceptualizing, analyzing, and communicating the business model. In J.A. Beckmann (Ed.), Business models: Design, dynamics and implementation: 37-62. New York, NY: Nova Science Publishers.
Nidagundi, D., &Novickis, L. (2017). Introducing lean canvas model adaptation in the scrum software testing. Procedia Computer Science, 104, 97-103.
Ortmann, G., &Seidl, D. (2010). Strategy Research in German context: The influence of economic, sociological and philosophical traditions. In J.A.C. Buum and J. Lampel (Eds.), The globalization of strategy research. Advances in strategic management: Vol. 27: 353-387.Bimgley, UK: Emerald.
Osterwalder, A., &Pigneur, Y. (2010). Business model generation. USA: John Wiley & Sons.
Osterwalder, A., Pigneur, Y., & Tucci, C.L. (2005). Clarifying business models: Origins, present and future of the concept. Communications of the Association for Information Systems, 16(1), 1.
Poon, A. (1993). Tourism, technology and competitive strategies. Oxon: CAB International.
Popper, K. (1994). Knowledge and the body-mind problem. London: Routledge.
Rajesh, R., Pugazhendhi, S., Ganesh, K., Ducq, Y., &Lenny Koh, S.C. (2012). Generic balanced scorecard framework for third party logistics service provider. InternationalJournal of Production Economics, 140, 269-282.
Ribeiro, I., Sobral, P., Pecas, P., &Henriques, E. (2018). A sustainable business model to fight food waste. Journal of Cleaner Production, 177: 262-275.
Sandberg, K.D. (2002). Is it time to trade in your business model. Harvard Management Update, 7(1), 3-5.
Saxena, G., &Ilbery, B. (2008). Integrated rural tourism: A border case study. Annas of Tourism Research, 35(1): 233-254.
Shafer, S.M., Smith, H.J., &Linder, J.C. (2005). The power of business models. Business Horizons, 48(3), 199-207.
Svensson, B., Nordin, S., &Flagestad, A. (2006). Destination governance and contemporary development models. In L. Lazzeretti, &C.S. Petrillo (Eds.), Tourism local systems and networks: 83-95. Oxford, UK: Elsevier.
Tan, C.C. (2016). Exploring the dynamics characteristics of organizational learning and the enablers for business success: A single case study. Business Sciences International Research Journal, 4(2): 84-87.
Tan, C.C. (2017). A fieldtrip approach to study tour guide in shaping student tourist experience. Journal of Mekong Societies, 3(2), 23-44.
Tan, C.C. (2018a). An advanced strategic management text: A research-oriented approach.India: IMRF Publication House.
Tan, C.C. (2018b). Giving a theoretical context to MOST framework of strategic management: A literature review. In D. B. Ratnakar (Ed.), Global trends in corporate social responsibility, demonetization, globalization and business sciences: 1-18. Vijayawada, India: IMRF International Publications.
Tan, C.C., & Anomasiri, S. (2017). Attention-based view approach to the use of performance measurements to drive organizational performance. Journal of Accounting Profession, 13(39), 58-82.
Teece, D.J. (2010). Business models, business strategy, and innovation. Long Range Planning, 43, 172-194.
Velu, C. (2016). A systems perspective on business model evolution: The case of an agricultural information service provider in India. Long Range Planning, 50(5), 603-620.
Weill, P., &Vitale, M.R. (2001). Place to space. Boston, MA: Harvard Business School Press.
Agrawal, S., Singh, R.K., &Murtaza, Q. (2016). Outsourcing decisions in reverse logistics: Sustainable balanced scorecard and graph theoretical approach. Resources, Conversation and Recycling, 108, 41-53.
Aung, Z.M., &Tan, C.C. (2016). Using the business model concept as a broadbased S-O-R (stimulating-organism-response) consumer behavior model for tourism industry: The case of Bagan, Myanmar. Journal of Mekong Societies, 12(2):21-44.
Barney, J.B. (1991). Firm resources and sustainable competitive advantage. Journal of Management, 17, 99-120.
Baron, A., &Armstrong, M. (2007). Human capital management achieving added value through people. London: Kogan Page.
Becker, G.S.1964.Human capital: A theoretical and empirical analysis, with special reference to education. Chicago, IL: University of Chicago Press.
Casadesus-Masanell, R., &Ricart, J.E. (2011). How to design a winning business model. Harvard Business Review, Jan-Feb: 100-107.
Chesbrough, H. (2010). Business model innovation: Opportunities and barriers. Long Range Planning, 43(2/3), 354-363.
Coulet, J.C. (2018). The organization activity: A foresight approach of theoretical knowledge evolution in management science. Technological Forecasting & Social Change (2018).https://doi.org/10.101b/j.techfore.2018.04.009.
Coombes, P.H., &Nicholson, J.D. (2013). Business models and their relationship with marketing: A systematic literature review. Industrial Marketing, 42, 656-664.
Ellstrom, R.E. (2001). Integrating learning and work: Problems and prospects.Human Resource Development Quarterly, 12(4), 421-435.
Fornell, C., & Larcker, D.F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39-50.
Gorchells, L. (2012). Business model renewal: How to grow and prosper by defying best practices and reinventing your strategy. USA: McGraw-Hill.
Gorman, C. (2006). The use of relationship marketing in developing network and co-operative links within tourism product marketing groups (PMGs). In L. Lazzeretti, &C.S. Petrillo (Eds.), Tourism local systems and networks: 149-168. Oxford, UK: Elsevier.
Harper, D. (1999). How entrepreneurs learn: A Popperian approach and its limitations. Working Paper 99-3. Denmark: Copenhagen Business School.
Hilliard, A.L. (1950). The forms of value: The extension of hedonistic axiology. New York: Columbia University Press.
Hooper, D., Coughlan, J., &Mullen, M. (2008). Structural equation modeling: Guidelines for determining model fit. Electronic Journal of Business Models, 6(1): 53-60.
Hussey, J., &Hussey, R. (1997). Business research: A practical guide for undergraduate and postgraduate students. New York, NY: PALGRAVE.
Joyce, A., &Paquin, R. (2016). The triple layered business model canvas: A tool to design more sustainable business models. Journal of Cleaner Production, 135: 1474-1486.
Kaplan, R.S., &Norton, D.P. (1996). Using the balanced scorecard as a strategic management system. Harvard Business Review, Jan-Feb: 75-85.
Kaplan, R.S., &Norton, D.P. (2004). The strategy map: Guide to aligning intangible assets. Strategy & Leadership, 32(5): 10-17.
Lee, Y.T., &Moon, J.Y. 2008. An exploration study on the balanced scorecard model of social enterprise. Asian Journal on Quality, 9(2): 11-30.
Lindgren, P., Taran, Y., &Boer, H. (2010). From single-firm to network-based business model innovation. International Journal of Entrepreneurship and Innovation Management, 12(2/3), 122-137.
Lueg, R. (2015). Strategy maps: The essential link between the balanced scorecard and action. Journal of Business Strategy, 36(2): 34-40.
Magretta, J. (2002). Why business models matter? Harvard Business Review, 80(5), 86-92.
Mintzberg, H., &Waters, J.A. (1985). Of strategies, deliberate and emergent. Strategic Management Journal, 6(3), 257-272.
Neilsen, C. 2011. Conceptualizing, analyzing, and communicating the business model. In J.A. Beckmann (Ed.), Business models: Design, dynamics and implementation: 37-62. New York, NY: Nova Science Publishers.
Nidagundi, D., &Novickis, L. (2017). Introducing lean canvas model adaptation in the scrum software testing. Procedia Computer Science, 104, 97-103.
Ortmann, G., &Seidl, D. (2010). Strategy Research in German context: The influence of economic, sociological and philosophical traditions. In J.A.C. Buum and J. Lampel (Eds.), The globalization of strategy research. Advances in strategic management: Vol. 27: 353-387.Bimgley, UK: Emerald.
Osterwalder, A., &Pigneur, Y. (2010). Business model generation. USA: John Wiley & Sons.
Osterwalder, A., Pigneur, Y., & Tucci, C.L. (2005). Clarifying business models: Origins, present and future of the concept. Communications of the Association for Information Systems, 16(1), 1.
Poon, A. (1993). Tourism, technology and competitive strategies. Oxon: CAB International.
Popper, K. (1994). Knowledge and the body-mind problem. London: Routledge.
Rajesh, R., Pugazhendhi, S., Ganesh, K., Ducq, Y., &Lenny Koh, S.C. (2012). Generic balanced scorecard framework for third party logistics service provider. InternationalJournal of Production Economics, 140, 269-282.
Ribeiro, I., Sobral, P., Pecas, P., &Henriques, E. (2018). A sustainable business model to fight food waste. Journal of Cleaner Production, 177: 262-275.
Sandberg, K.D. (2002). Is it time to trade in your business model. Harvard Management Update, 7(1), 3-5.
Saxena, G., &Ilbery, B. (2008). Integrated rural tourism: A border case study. Annas of Tourism Research, 35(1): 233-254.
Shafer, S.M., Smith, H.J., &Linder, J.C. (2005). The power of business models. Business Horizons, 48(3), 199-207.
Svensson, B., Nordin, S., &Flagestad, A. (2006). Destination governance and contemporary development models. In L. Lazzeretti, &C.S. Petrillo (Eds.), Tourism local systems and networks: 83-95. Oxford, UK: Elsevier.
Tan, C.C. (2016). Exploring the dynamics characteristics of organizational learning and the enablers for business success: A single case study. Business Sciences International Research Journal, 4(2): 84-87.
Tan, C.C. (2017). A fieldtrip approach to study tour guide in shaping student tourist experience. Journal of Mekong Societies, 3(2), 23-44.
Tan, C.C. (2018a). An advanced strategic management text: A research-oriented approach.India: IMRF Publication House.
Tan, C.C. (2018b). Giving a theoretical context to MOST framework of strategic management: A literature review. In D. B. Ratnakar (Ed.), Global trends in corporate social responsibility, demonetization, globalization and business sciences: 1-18. Vijayawada, India: IMRF International Publications.
Tan, C.C., & Anomasiri, S. (2017). Attention-based view approach to the use of performance measurements to drive organizational performance. Journal of Accounting Profession, 13(39), 58-82.
Teece, D.J. (2010). Business models, business strategy, and innovation. Long Range Planning, 43, 172-194.
Velu, C. (2016). A systems perspective on business model evolution: The case of an agricultural information service provider in India. Long Range Planning, 50(5), 603-620.
Weill, P., &Vitale, M.R. (2001). Place to space. Boston, MA: Harvard Business School Press.