Department of Economics and Business Economics

Erland Hejn Nielsen

Management Accounting and Business Analytics: An example of System Dynamics Modelling's use in the design of a Balanced Scorecard

Research output: Contribution to journal/Conference contribution in journal/Contribution to newspaperJournal articleResearchpeer-review

Standard

Management Accounting and Business Analytics : An example of System Dynamics Modelling's use in the design of a Balanced Scorecard. / Nielsen, Erland Hejn; Nielsen, Steen; Jacobsen, Anders; Bjoern Pedersen, Lars.

In: Danish Journal of Management & Business, Vol. 78, No. 3 & 4, 2014, p. 31-44.

Research output: Contribution to journal/Conference contribution in journal/Contribution to newspaperJournal articleResearchpeer-review

Harvard

Nielsen, EH, Nielsen, S, Jacobsen, A & Bjoern Pedersen, L 2014, 'Management Accounting and Business Analytics: An example of System Dynamics Modelling's use in the design of a Balanced Scorecard', Danish Journal of Management & Business, vol. 78, no. 3 & 4, pp. 31-44.

APA

Nielsen, E. H., Nielsen, S., Jacobsen, A., & Bjoern Pedersen, L. (2014). Management Accounting and Business Analytics: An example of System Dynamics Modelling's use in the design of a Balanced Scorecard. Danish Journal of Management & Business, 78(3 & 4), 31-44.

CBE

MLA

Vancouver

Author

Nielsen, Erland Hejn ; Nielsen, Steen ; Jacobsen, Anders ; Bjoern Pedersen, Lars. / Management Accounting and Business Analytics : An example of System Dynamics Modelling's use in the design of a Balanced Scorecard. In: Danish Journal of Management & Business. 2014 ; Vol. 78, No. 3 & 4. pp. 31-44.

Bibtex

@article{5caa0698a4c147f096be2c12474ce2cf,
title = "Management Accounting and Business Analytics: An example of System Dynamics Modelling's use in the design of a Balanced Scorecard",
abstract = "This paper focuses on how System Dynamics Modeling (SDM) can contribute to an increased understanding of business in an ‘analytics’ setup. Such improved understanding is necessary to identify the variables that most effectively support a company’s strategy in a Balanced Scorecard (BSC). By combining the idea of a BSC as a causal loop system with systems thinking, the current paper aims to address not only the conceptual domain concept of ‘comprehensiveness’ related to BSC, i.e. the ‘scope’ (learning) and ‘differentiation’ (system dynamics causality and feedback), but also the methodological domain concept of ‘precision’ (solution by differential equations). We show that a company can improve its understanding of its business at a very early stage in the BSC design phase by using SDM such as causal loop diagrams.",
keywords = "System Dynamics, Balanced Scorecard, causal loop diagrams, dynamic performance and simulation",
author = "Nielsen, {Erland Hejn} and Steen Nielsen and Anders Jacobsen and {Bjoern Pedersen}, Lars",
year = "2014",
language = "English",
volume = "78",
pages = "31--44",
journal = "Danish Journal of Management & Business",
number = "3 & 4",

}

RIS

TY - JOUR

T1 - Management Accounting and Business Analytics

T2 - An example of System Dynamics Modelling's use in the design of a Balanced Scorecard

AU - Nielsen, Erland Hejn

AU - Nielsen, Steen

AU - Jacobsen, Anders

AU - Bjoern Pedersen, Lars

PY - 2014

Y1 - 2014

N2 - This paper focuses on how System Dynamics Modeling (SDM) can contribute to an increased understanding of business in an ‘analytics’ setup. Such improved understanding is necessary to identify the variables that most effectively support a company’s strategy in a Balanced Scorecard (BSC). By combining the idea of a BSC as a causal loop system with systems thinking, the current paper aims to address not only the conceptual domain concept of ‘comprehensiveness’ related to BSC, i.e. the ‘scope’ (learning) and ‘differentiation’ (system dynamics causality and feedback), but also the methodological domain concept of ‘precision’ (solution by differential equations). We show that a company can improve its understanding of its business at a very early stage in the BSC design phase by using SDM such as causal loop diagrams.

AB - This paper focuses on how System Dynamics Modeling (SDM) can contribute to an increased understanding of business in an ‘analytics’ setup. Such improved understanding is necessary to identify the variables that most effectively support a company’s strategy in a Balanced Scorecard (BSC). By combining the idea of a BSC as a causal loop system with systems thinking, the current paper aims to address not only the conceptual domain concept of ‘comprehensiveness’ related to BSC, i.e. the ‘scope’ (learning) and ‘differentiation’ (system dynamics causality and feedback), but also the methodological domain concept of ‘precision’ (solution by differential equations). We show that a company can improve its understanding of its business at a very early stage in the BSC design phase by using SDM such as causal loop diagrams.

KW - System Dynamics, Balanced Scorecard, causal loop diagrams, dynamic performance and simulation

M3 - Journal article

VL - 78

SP - 31

EP - 44

JO - Danish Journal of Management & Business

JF - Danish Journal of Management & Business

IS - 3 & 4

ER -