The original balanced scorecard (BSC) model by Kaplan and Norton (1992) viewed the organization from four different perspectives: Financial, Customer, Internal Business Process and Learning and Growth Perspective. This model has been widely used in both profit and non-profit organizations. The measurement of these perspectives determine the performance of such organizations. However, in this study, we focus on the implementation of BSC in Zakat Institutions as a representative of an Islamic Institutions. To cater for this, we propose the fifth perspective: Religious Perspective, which has significant positive relationships towards Zakat institutions’ performance. The new developed perspective has ensured that collection practices from Zakat contributors by Zakat institutions meets Sharia standards. The findings of this study propose a guideline and lead to some recommendations to assist the managers of Zakat institutions in decision-making and formulating strategies.
Keywords: Balanced scorecard; religious; Zakat institution
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