Definition
The balanced scorecard (BSC) is a widely used strategic performance management tool, to support strategy communication, execution, and control. The BSC has a comprehensive scope, based on the inclusion of both financial and nonfinancial perspectives: the customer, internal processes, and learning and growth perspectives. The four perspectives are typically depicted in a strategy map, a visual representation of an organization strategy, linking the strategic objectives in a chain of cause and effects. Strategy maps contribute to communicate strategy, bridge strategic and operational levels, guide employees’ behaviors in light of the defined strategy, and support BSC design.
The BSC has been found suitable to support the implementation and...
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References
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Oliveira, J. (2021). Balanced Scorecard and Sustainability. In: Idowu, S., Schmidpeter, R., Capaldi, N., Zu, L., Del Baldo, M., Abreu, R. (eds) Encyclopedia of Sustainable Management. Springer, Cham. https://doi.org/10.1007/978-3-030-02006-4_753-1
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