2000, Volume 3, Paper 32
ISSN: 2209-6612

An Exploration Of The Use Of The Balanced Scorecard Approach to Achieve Better Farm Business Planning And Control

N.M.Shadbolt – College of Sciences, Massey University, Palmerston North, New Zealand
K.M. Rawlings – College of Sciences, Massey University, Palmerston North, New Zealand

Abstract

The family farm is a complex business due to the intimate interaction between business and lifestyle goals. It is important to select and monitor a group of relevant, or key, performance indicators (KPIs) that can be used to measure how well the business is performing. Performance indicators must link to the goals of the farm business. No one measure can be used to assess how well the business has achieved it’s various, and sometimes conflicting, goals. The aim of this study was to identify whether dairyfarmers have adequate performance indicators to measure progress towards goals and to explore how well dairyfarmers formally or systematically resolve and manage goal conflict by testing their goals against a ‘balanced scorecard’ framework adapted from business literature.

Keywords: balanced scorecard, key performance indicators, goal conflict resolution

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