BALANCED SCORECARD: ESSENCE AND IMPORTANCE FOR MAKING GOOD BUSINESS DECISIONS TO ENSURE SUSTAINABLE DEVELOPMENT OF BUSINESS

This paper presents a methodology for quantifying the impact of Total Quality Management TQM elements on organisational strategic sustainable development, integrating within it the well-known strategic management tool of Balanced Scorecard to represent the strategic part of the organisations, and the multi-criteria technique Analytic Network Process (ANP) to identify and quantify the mentioned impact. Additionally, the application of TQM generates directly some organisational improvements—or outputs—which help model a decisional ANP network constituted by all three building blocks—TQM elements, strategic objectives and outputs—and their interrelationships. The application of the methodology to an oil firm carried out by an expert group offered, from a decision-making point of view, meaningful results that were developed following three different analyses: Global analysis, which identified the global weight of each variable; Analysis of Influences, which established sound cause–effect relationships between the variables to identify the elements—TQM and outputs—that are more important to achieve the strategic objectives; and the Integrated analysis, which pointed out which TQM elements should be fostered in order to achieve the most important sustainable strategic objectives. Finally, it is suggested to apply the methodology to other types of size and sector activity organisations, as well as to use other techniques that introduce fuzzy elements.

Download Full-text

Sustainable development in technological and vocational higher education: balanced scorecard measures with uncertainty

Journal of Cleaner Production ◽

10.1016/j.jclepro.2015.12.054 ◽

2016 ◽

Vol 120 ◽

pp. 1-12 ◽

Cited By ~ 30

Author(s):

Mei-Hui Lin ◽

Jiayao Hu ◽

Ming-Lang Tseng ◽

Anthony S.F. Chiu ◽

Chunyi Lin

Keyword(s):

Higher Education ◽

Sustainable Development ◽

Balanced Scorecard ◽

Vocational Higher Education

Download Full-text

IMPLEMENTATION THE MECHANISM OF THE ENTERPRISE SUSTAINABLE DEVELOPMENT USING A BALANCED SCORECARD

Efektyvna ekonomika ◽

10.32702/2307-2105-2021.1.88 ◽

2021 ◽

Author(s):

N. Katkova ◽

I. Murashko

Keyword(s):

Sustainable Development ◽

Balanced Scorecard

Download Full-text

Sustainable management, balanced scorecard and small business: a systematic review and state of the art

Independent Journal of Management & Production ◽

10.14807/ijmp.v11i1.1002 ◽

2020 ◽

Vol 11 (1) ◽

pp. 156

Author(s):

Marileide Barbosa ◽

Juan Arturo Castañeda-Ayarza ◽

Denise Helena Lombardo Ferreira

Keyword(s):

Sustainable Development ◽

Small Business ◽

Balanced Scorecard ◽

Sustainable Management ◽

Business Management ◽

Small Companies ◽

Management Tools ◽

Scientific Publications ◽

The Balanced Scorecard ◽

Whole Process

The Balanced Scorecard - BSC is a widely used tool in business management that allows implementing and controlling strategies. Today, in a context that demands efforts from all organizations for sustainable development, the BSC has become an excellent alternative to include sustainability in business management. However, when it comes to small business organizations, management tools like BSC and business sustainability face the greatest difficulties, barriers and limitations. Therefore, the objective is to map the frontier of knowledge that brings together sustainable management and BSC to small companies, allowing visualization of the paths covered and the ones to be taken through science. A systematic bibliographical research was developed identifying and analyzing the main scientific publications that intersect the themes mentioned above. The results show the need to increase research towards understanding and monitoring the transformation of small business management in terms of sustainable development. The importance of the use of management tools to improve the efficiency and effectiveness of the whole process has been confirmed, as well as that the BSC can play a relevant role. Thus, with this, researchers are expected to be more interested in the subject and more studies applied in small companies will come to be.

Download Full-text

Impact of a Balanced Scorecard as a Strategic Management System Tool to Improve Sustainable Development: Measuring the Mediation of Organizational Performance through PLS-Smart

Sustainability ◽

10.3390/su12041365 ◽

2020 ◽

Vol 12 (4) ◽

pp. 1365 ◽

Cited By ~ 1

Author(s):

Muhammad Rafiq ◽

XingPing Zhang ◽

Jiahai Yuan ◽

Shumaila Naz ◽

Saif Maqbool

Keyword(s):

Sustainable Development ◽

Strategic Management ◽

Organizational Performance ◽

Balanced Scorecard ◽

Management System ◽

Structural Equation ◽

Positive Influence ◽

Equation Modeling ◽

Financial Measures ◽

Financial Performance Measures

The study was carried out to investigate the empirical effect of a strategic management system on sustainable development by using a balanced scorecard (BSC), as a theoretical lens, and organizational performance, as an intervening variable. The study incorporated a positivism research paradigm in order to address the objective nature of research. As the current study has an empirical and impartial nature, a quantitative method was considered the best method for achieving the research objectives of the study. The study used questionnaires as a data collection instrument. In total, three hundred questionnaires were disturbed among Chinese power companies based in Pakistan. A stratified-random sampling approach was adopted to reach relevant respondents. Partial least squares-structural equation modeling was used for statistical analysis. BSC indicated a positive influence on sustainable development. Additionally, organizational performance depicted partial mediation between the strategic management system and sustainable development. The study underpins the theoretical foundation of a resource-based view (RBV) and a balanced scorecard view of the strategic management system. The findings suggest that non-financial measures have better consequences for employees’ performance, making them ecologically responsive, unlike the financial performance measures used previously. The study suggests taking measures related to wastage and usage of inimitable resources that focus on in-addition rather traditional measures, which can allow sustainable development.

Download Full-text

Promoting sustainable development in higher education institutions: the use of the balanced scorecard as a strategic management system in support of green marketing

International Journal of Sustainability in Higher Education ◽

10.1108/ijshe-02-2020-0079 ◽

2020 ◽

Vol 21 (7) ◽

pp. 1477-1505

Author(s):

Paulo Fuchs ◽

Carlos Raulino ◽

Diogo Conceição ◽

Samara Neiva ◽

Wellyngton Silva de Amorim ◽

...

Keyword(s):

Higher Education ◽

Sustainable Development ◽

Strategic Management ◽

Balanced Scorecard ◽

Management System ◽

Higher Education Institutions ◽

Marketing Strategies ◽

Green Marketing ◽

Content Type ◽

The Balanced Scorecard

Purpose Sustainability is understood as a complex and integrating area, involving the most diverse areas and fields of knowledge. Because of the innumerable socio-environmental challenges in the current scenario, a sustainable development that finds the necessary changes and advances for communities, industry and the various stakeholders involved is required. In this process of promoting sustainable development, universities stand out for being institutions capable of taking an analytical and questioning look at the directions of the society in which they are inserted and not just helping them to pursue them, serving as a model and living laboratory for the implementation of greener practices in cities. One of the actions that contributes to the consolidation process of a more sustainable university and the development of the green campus is the use of green marketing, understood as a set of all the practices that involve conventional marketing, focused on the search to reduce the negative impact or promote positive effects on the relationship between the institution and the environment. This paper aims, based on the balanced scorecard (BSC), to propose a strategic management tool as support for green marketing strategies, thus promoting, more quickly, the promotion of sustainable development in higher education institutions (HEIs). Design/methodology/approach Four universities were chosen, from the literature, in terms of best practices for sustainable development, where the main dimensions used by green marketing were mapped. Based on them, the BSC structure was adapted to enhance its strategies. Findings To achieve the objective of this work, this paper proposed an adaptation of the original BSC for better management of green marketing strategies for universities, based on four dimensions: community members, university members, product and strategy. Originality/value The main contribution of this paper is to propose a BSC as a strategic management system focused on the green marketing of universities to accelerate the promotion of sustainable development in HEIs.

Download Full-text

Integrating Environmental Performance Indictors in Balanced Scorecard to Activate the Role of Organization in Sustainable Development

Journal of Economic and Administrative Sciences ◽

10.1108/10264116200500005 ◽

2005 ◽

Vol 21 (2) ◽

pp. 1-34

Author(s):

Nadia Rady

Keyword(s):

Sustainable Development ◽

Balanced Scorecard ◽

Environmental Performance

Download Full-text

A Study on Balanced Scorecard and Its Impact on Sustainable Development of Renewable Energy Organizations; A Mediating Role of Political and Regulatory Institutions

Risks ◽

10.3390/risks9060110 ◽

2021 ◽

Vol 9 (6) ◽

pp. 110

Author(s):

Muhammad Rafiq ◽

Saif Maqbool ◽

José Moleiro Martins ◽

Mário Nuno Mata ◽

Rui Miguel Dantas ◽

...

Keyword(s):

Sustainable Development ◽

Balanced Scorecard ◽

Environmental Sustainability ◽

Structural Equation ◽

Political Influence ◽

Equation Modeling ◽

Path Modeling ◽

Financial Loss ◽

Statistical Tool ◽

The Balanced Scorecard

Organizational strategic programs are continuously evolving and gaining the attention of policy makers in order to construct organizations’ ecological and socioeconomic systems. The purpose of this study is to examine the relationship between the balanced scorecard (BSC) and sustainable development involving the mediated effect of political and regulatory influence. To achieve the core objectives of the research, the quantitative (positivism) research method is applied. The goal of the current research is made possible through the quantitative method because of its objective nature of reality. A total of 320 questionnaires were distributed among the different levels of managers; 280 respondents returned the questionnaire. The data are analyzed through a modern statistical tool called Smart-PLS, Partial Least Squares (PLS) is high graphical user interference software that is used to calculate Structural Equation Modeling (SEM) through PLS path modeling. Factor analysis is conducted to eliminate the variables that have no contribution and to reduce the variables to obtain better results in regression. The implications are for energy organizations that are struggling to deal with sustainable development and these tools can help them to achieve their sustainability goals. The study concludes that the adoption of BSC is essential to ensure sustainable development regardless of its challenges. Moreover, consideration of meta-constitutional rules as political influence is important to understand and address in order to mitigate financial loss. In nutshell, the use of BSC is highly recommended to eliminate the routine problems and to ensure environmental sustainability.

Download Full-text

Development of the Knowledge Economy and Regional Innovation Policy in the Context of Sustainable Development: Russian Practice

10.20944/preprints201710.0004.v1 ◽

2017 ◽

Author(s):

Elena Tkachenko ◽

Sergey Bodrunov ◽

Elena Rogova

Keyword(s):

Sustainable Development ◽

Balanced Scorecard ◽

Knowledge Economy ◽

Innovation Policy ◽

Innovation Management ◽

Life Quality ◽

Green Economy ◽

Regional Innovation ◽

The Balanced Scorecard ◽

Regional Innovation Policy

The paper explores different models of innovation management at the regional level and reasons for the best model considering the specific features of St. Petersburg as the innovative region of Russia. The authors, on the base of their long-time experience in studies of innovative enterprises and elaborating the regional innovation policy in St. Petersburg, propose the tool of creation and measuring the results of the regional innovation policy that promotes the life quality improvement and regional sustainable development. The balanced scorecard is used as a method, based on the methodology of knowledge economy development and adjusted to the specific needs of St. Petersburg innovation eco-system. The authors pay special attention to the implementation of principles of green economy into the realization of the regional innovation policy and the proposed balanced scorecard.

Download Full-text