Author : Zaitona University - Jordan, Al-
Using the Balanced Scorecard with SWOT Analysis to strategy Formulation: Attesting Study in the Arab Bank
Volume 26, Issue 17, Pages 52-87
The Study aims at developing a new approach for linking the stages of formulation and evaluation in the organizations strategic options. In addition to building a strategic map through linking SWOT results with the objectives of the Arab Bank, as derived from the balanced scorecards. A number of statistical techniques, such as the weight mean and mean were used to arrive at the most important strengths, weaknesses, opportunities and threats, and the working to meet such points with a view to formulating the ideal strategy, and then translating it with the BSC framework. The study reached a number of conclusions and results, namely:
1. To turn SWOT analysis into a practical and scientific formula, one ought to link this analysis to the BSC, as it gives real indications that should be stressed upon in the light of the Arab Bank Priorities.
2. The inability of the Arab Bank to rely on a clear – cut methodology to conduct SWOT analysis. Theoretical studies tend to dominate the analysis.
3. Pure financial indications are relied upon to measure performance results away from the comprehensive perspective of performance, whereas the bank relies to a certain extent on non-financial indications.