Thirty years with the balanced scorecard: What we have learned |
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Affiliation: | 1. J. Mack Robinson College of Business, Georgia State University, 33 Gilmer Street SE, Atlanta, GA 30303, U.S.A.;2. College of Business & Economics, California State University Los Angeles, 5154 State University Drive, Los Angeles, CA 90032, U.S.A. |
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Abstract: | The balanced scorecard (BSC) is one of the most influential strategy implementation and control tools of the past 75 years, but data regarding the BSC’s impact on firm performance is mixed. In this work, we go beyond anecdotal evidence to take stock of the practical impact the BSC has had, synthesize available qualitative and quantitative data on the relationship between BSC adoption and firm performance, and investigate the conditions under which the BSC has been found to be a successful strategy implementation tool. Based on the evidence, we then provide several recommendations on how to maximize the value of BSC adoption. These recommendations are centered on an apparent paradox: While the BSC is a tool for effective strategy implementation, it must itself be effectively implemented to deliver on its potential. |
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Keywords: | Balanced scorecard Balanced scorecard adoption Strategy implementation Organizational performance Management tools |
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