House of Performance: Maslahah Balance Scorecard

Abstract

This paper presents a conceptual review to formulate a holistic performance measurement model for companies. The model formulation adopts the balanced scorecard, issues competition, sustainability, and maqashid sharia in Islamic thought. This paper uses an integrative literature review approach by analyzing, reviewing, and criticizing previous research regarding indicators of sustainable organizational performance. Using cause-effect analysis thinking, a path shows the input-process-output-outcomes flow of sustainable organizational performance indicators. Focus group discussions were conducted with management experts specializing in finance, strategy, marketing, and Islamic economics experts. The formulation results find a holistic concept of a performance measurement model for companies with several measurement instruments that can be used practically. This new concept is given the name House of Performance: Maslahah Balanced Scorecard. The weakness of this article is that it is still a conceptual paper that needs to be tested empirically. This concept is complicated because it is holistic. Applying a research model to be tested in a particular context becomes challenging. This model is perfect when applied as a basis for measuring organizational performance. The organization will obtain a performance map from input-process-output and outcome, which is crucial for the control process and early detection of the company's operations.