Balanced Scorecard: Literature Review and Implementation in Organization

Abstract

The balanced scorecard is a formal management technique for developing, implementing, and managing business strategies. It isn't easy to ascertain the technique's success. Most of the literature on its implementation is put out by those with a vested interest in its success as a commercial product. Much has been written about barriers to strategy implementation but not specifically to implementing a balanced scorecard. The literature review in this paper shows that studies on BSC implementation in corporate organizations focus on improving organizational performance, assisting in decision making, assisting in component selection, evaluating production and learning and sustainable growth. This paper provides benefits for further research to add to the literature and understanding of the implementation of the Balanced Scorecard in any organization.

Performance Management System Design of Inspection Bodies in Indonesia

“…3) the weighting result of the Key Performance Indicators for the company's stakeholders could be seen in the order of priority, i.e: customer stakeholder, investment stakeholder, labor stakeholder, supplier stakeholder, and community stakeholder. This theoretical study and previous research are similar as expressed by (Taufik et al, 2021) in the literature review, this gives us a lot of information about the result and performance achievement of planning and implementing the Balanced Scorecard that has been prepared previously. So on the basis of theory and previous research, we are expected to be able to make estimation where the company needs adjustment to planning activities in an effort to control the company on an ongoing basis.…”