Use of the Balanced Scorecard and SPACE-Analysis for Determining the Bank Strategy

Yeremeychuk Raisa A. and Bezrodna Olena S. ()
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Yeremeychuk Raisa A.: Kharkiv National University of Economics
Bezrodna Olena S.: Kharkiv National University of Economics

Business Inform, 2013, issue 8, 277_284

Abstract: The article considers essence of the strategic analysis, its place and role in the process of strategic management of the bank and instruments of realisation. It justifies expediency of use of the balanced scorecard for assessment of activity of a banking institution. On the basis of the offered approach to selection of the balanced scorecard (by criteria of absence of a close linear connection between them and selection of the most informative and significant of them) the article carries out assessment of a bank activity by each of the sub-systems. It reveals problem aspects in functioning and formulates strategic goals, which reflect priority directions of its further development. The bank's strategic position is determined with the help of the use of the matrix method of complex study of factors of external and internal environment of the SPACE-analysis. The article offers the bank development strategy with consideration of results of assessment of its activity on the basis of the balanced scorecard and competitive position.

Keywords: strategic analysis; assessment of activity; balanced scorecard; SPACE-analysis; bank strategy (search for similar items in EconPapers)
Date: 2013
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