The balanced scorecard logic in the management control and reporting of small business company networks: A case study

The purpose of this paper is to assess and integrate the application of the balance scorecard (BSC) logic into business networks identifying functions and use that such performance measuring tool may undertake for SME\u2019s collaborative development. Thus, the paper analyses a successful case study regarding an Italian network of small companies, evaluating how the multidimensional perspective of BSC can support strategic an d operational network management as well as communication of financial and extra financial performance to stakeholders. The study consists of a qualitative method, proposing the application of BSC model for business networks from international literature. Several meetings and interviews as well as triangulation with primary and secondary documents have been conducted. The case study allows to recognize how BSC network logic can play a fundamental role on defining network mission, supporting management control as well as measuring and reporting the intangible assets formation along the network development lifecycle. This is the first time application of a BSC integrated framework for business networks composed of SMEs. The case study demonstrates operational value of BSC for SME\u2019s collaborative development and succes

The Current State of Risk Management in Italian Small and Medium-Sized Enterprises

Risk management literature mainly refers to large companies. When it focuses on SMEs, risk management seems to be unstructured, reactive and solely in the hands of owner-managers. Further investigation is necessary, especially in Italy where SMEs are the backbone of the country. This research aims to identify the most important risks, SMEs’ risk management organization, process and approach, as well as drivers, obstacles and benefits of a holistic risk management implementation. Ten case studies indicate that Italian SMEs are aware of the benefits of implementing holistic risk management practices, but constraints seem to be stronger than drivers. Companies are particularly concerned with financial risks, IT breakdown and exogenous events. Risk managers are never appointed and risk management processes are usually not formalized. Half of the companies behave fatalistically, others have introduced holistic risk management practices, and few cases show to be even more advance

The balanced scorecard logic in the management control and reporting of small business company networks: a case study

The purpose of this paper is to assess and integrate the application of the balance scorecard (BSC) logic into business networks identifying functions and use that such performance measuring tool may undertake for SME’s collaborative development. Thus, the paper analyses a successful case study regarding an Italian network of small companies, evaluating how the multidimensional perspective of BSC can support strategic and operational network management as well as communication of financial and extra financial performance to stakeholders. The study consists of a qualitative method, proposing the application of BSC model for business networks from international literature. Several meetings and interviews as well as triangulation with primary and secondary documents have been conducted. The case study allows to recognize how BSC network logic can play a fundamental role on defining network mission, supporting management control as well as measuring and reporting the intangible assets formation along the network development lifecycle. This is the first time application of a BSC integrated framework for business networks composed of SMEs. The case study demonstrates operational value of BSC for SME’s collaborative development and success

A comparison of content analysis usage and text mining in CSR corporate disclosure

This paper investigates content analysis and text mining as two different research techniques largely used by scholars to perform the text analysis of company social and environmental reports. Its aim is to demonstrate that these techniques are not so irreconcilable as one might suppose, but can be applied to the same problem being addressed in certain circumstances. The paper starts with a presentation of the two research techniques, providing information about their origin, diffusion and fields of application in academia. It examines them with respect to the assumption each one holds about the nature of knowledge and continues with a discussion of the elements that display the differences and similarities between them. Subsequently, the paper presents an empirical application of the two techniques to the same research problem: the identification of possible changes in the amount of company disclosure after an industrial disaster. The focus is on a company‟s communication of economic, social and environmental goals and impacts usually included in sustainability reports. The two techniques are applied to the same set of company reports published by four large multinationals that went through the industrial disaster characterised by strong negative social and environmental consequences. Results from the trend analysis obtained by the application of the two techniques indicate that they are not such irreconcilable methods, but they may lead to different conclusions about a company‟s behaviour in trying to restore its corporate reputation damaged by the disaster. Thus, the two techniques should not be used to crosscheck results, although they provide similar output data

Management accounting for a circular economy: current limits and avenue for a dialogic approach

Purpose – This study investigates the implementation of a sustainable circular business model from an accounting perspective. Its goal is to understand if and how decision- makers use management accounting systems, and what changes are needed if these systems are to support the transition toward a circular economy. Design/methodology/approach – Dialogic accounting theory frames the case study of six companies that built a value network to develop and implement an innovative packaging solution consistent with circular economy principles. Content analysis was utilised to investigate the accounting tools used. Findings – The findings indicate that circular solutions generate new organisational configurations based on value networks. Interestingly, managers’ decision-making process largely bypassed the accounting function; they relied on informal accounting and life cycle analysis, which stimulated a multi-stakeholder dialogue in a life cycle perspective. Research limitations/implications – The research provides theoretical and practical insights into the capability of management accounting systems to support companies seeking circular solutions. Practical implications – The authors offer implications for accounting practice, chief financial officers (CFOs) and accounting educators, suggesting that a dialogic approach may support value retention of resources, materials and products, as required by the circular economy. Social implications – The research contributes to the debate about the role of accounting in sustainability, specifically the need for connecting for resource efficiency at the corporate level with the rationalisation of resource use within planetary boundaries. Originality/value – The study contributes to the limited research into the role of management accounting in a company’s transition to circular business models. Dialogic accounting theory frames exploration of how accounting may evolve to help businesses become accountable to all stakeholders, including the environment

Inclusive development & civic wealth in UNESCO sites. A pilot project to regenerate the stables of the Duke Federico da Montefeltro in Urbino.

Lo studio affronta il tema di come le amministrazioni locali fronteggiano la sfida di rigenerare le città storiche culturali grazie all’impegno delle comunità e degli stakeholder valorizzando il patrimonio culturale (CH). Il caso di studio presentato è quello della città di Urbino (Italia), patrimonio UNESCO. Il disegno di ricerca si basa sull’osservazione di un’iniziativa specifica, nota come “il rilancio dello spazio DATA” (le scuderie del Duca Federico da Montefeltro risalenti al Rinascimento). Le premesse che hanno attivato le comunità locali a collaborare al progetto sono state ricostruite e interpretate sotto la lente teorica della creazione di ricchezza civica. La metodologia adottata per ricostruire i processi messi in atto, i fattori che hanno attivato i meccanismi di generazione di ricchezza civica e i risultati generati, si è basata su un approccio qualitativo. Per cogliere la percezione degli stakeholder sul CH e identificare gli approcci per il coinvolgimento dei cittadini, le informazioni sono state tratte da una molteplicità di fonti primarie e secondarie (interviste non strutturate rivolte agli attori chiave coinvolti nel progetto, analisi di documenti e discussioni pubbliche, delibere del Consiglio comunale, analisi del sito web del Comune). I risultati evidenziano che la riscoperta del proprio patrimonio culturale, basato sull’eredità del passato ma riutilizzato nella vita quotidiana, può diventare il collante che favorisce il networking e il benessere della comunità. Tuttavia, poiché la creazione di ricchezza civica richiede che visioni e interessi dei principali stakeholder convergano, il caso di studio rivela che la collaborazione tra gli stakeholder ha fortemente bisogno del sostegno dell’amministrazione locale come facilitatore/organizzatore capace di perseguire nel tempo un equilibrio tra le diverse esigenze e aspettative.The study focuses on how local administrations can activate and foster the process of linking cultural heritage to civic wealth creation by engaging different stakeholders in urban regeneration initiatives. The research design relies on the observation of a project known as “the Relaunch of the DATA space” – the stables of the Duke Federico da Montefeltro – in Urbino (Italy). The premises that activated local communities to collaborate on the project have been reconstructed and interpreted under the theoretical lens of civic wealth creation. The methodology adopted to reconstruct the processes put in place, the premises and factors that activated the mechanisms supposed to create civic wealth and the outcomes generated, was based on a qualitative approach. Multiple sources (both primary and secondary sources) were used to grasp stakeholders’ opinions on culture-led regeneration initiatives and to identify approaches for citizen engagement, including semi-structured interviews addressed to key actors involved in the project, analysis of public documents and public discussions, municipality website and the city strategic plan. Findings highlight that the rediscovery and reuse of one’s cultural heritage rooted in a common identity may become the glue that favours networking and the community’s wellbeing. However, as civic wealth creation requires the key stakeholders’ expectations come together, our case study reveals that collaboration among stakeholders strongly necessitates the support of the local administration as a facilitator/orchestrator, pursuing balance among different visions and needs over time

The Penetration of Business Information Systems in Small and Medium-sized Enterprises in Italy and Hungary: A Comparative Study

Information technology (IT) has become an integral part of an enterprise’s organizational life recently and represents an increasingly important factor for all kinds of organizations, since the services it provides have become almost essential by now for all types of enterprises in the European Union. However, company size and differences at country level might still play an important role in hindering IT adoption. The main reason for writing this article was to analyse IT penetration and usage in Italy and Hungary and find a well-grounded answer to the question of whether IT – in the form of business information systems – is regarded as a source of competitive edge or an essential condition for survival by different enterprises in different countries. To explore this topic, a survey was conducted by submitting an online questionnaire to a sample of Italian and Hungarian enterprises. The results indicate a noticeable difference in the IT development level of the two countries. In Italy information systems in general and systems for managers decision-making are more widespread, thus IT has already reached the level of an essential condition for survival there, whereas it is still seen as a source of competitive edge in Hungary. However, contrary to our initial assumption, the question of competitive edge versus condition for survival depends more on size categories rather than on individual countries

The changing role of convention bureaus: An analysis of business models currently adopted by privately owned CBS

This study aims to describe how Italian Convention Bureau (CB) organisations faced the uncertainty about their future existence and role caused by government funding cuts and increased pressure from stakeholders to demonstrate market effectiveness and organisational efficiency. Firstly, it uses the business model concept to describe actors, activities and value creation processes of today’s CBs that largely rely on private funds. Secondly, it investigates the degree of concern of CB’s Board on measuring and monitoring the value created for the stakeholders that provide financial resources. Selected case studies relative to Italian CBs are analysed through in-depth interviews and document analysis. Findings point out that the profit model of the investigated CBs strongly relies on fees from partners and members or revenues from the sale of services to local operators. This implies that CBs make efforts to monitor the value created for these specific groups of stakeholders while less attention is given to the measurement of customers’ (i.e. event planners) satisfaction and impact of CB’s activities on the quality of life of local communities

The changing role of convention bureaus: An analysis of business models currently adopted by privately owned CBS

This study aims to describe how Italian Convention Bureau (CB) organisations faced the uncertainty about their future existence and role caused by government funding cuts and increased pressure from stakeholders to demonstrate market effectiveness and organisational efficiency. Firstly, it uses the business model concept to describe actors, activities and value creation processes of today’s CBs that largely rely on private funds. Secondly, it investigates the degree of concern of CB’s Board on measuring and monitoring the value created for the stakeholders that provide financial resources. Selected case studies relative to Italian CBs are analysed through in-depth interviews and document analysis. Findings point out that the profit model of the investigated CBs strongly relies on fees from partners and members or revenues from the sale of services to local operators. This implies that CBs make efforts to monitor the value created for these specific groups of stakeholders while less attention is given to the measurement of customers’ (i.e. event planners) satisfaction and impact of CB’s activities on the quality of life of local communities