MODERN APPROACH TO THE BSC: FUNCTIONAL STRUCTURE AND COMPLEX CONSIDERATION OF STAKEHOLDER INTERESTS
The article examines the issue of the structure of a Balanced Scorecard, by which the authors understand the composition of the system’s perspectives and the approaches to their selection. The traditional structure of the BSC is considered, along with modern trends regarding its expansion with ad...
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| Main Authors: | , |
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| Format: | Article |
| Language: | deu |
| Published: |
Alfred Nobel University
2025-07-01
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| Series: | Academy Review |
| Subjects: | |
| Online Access: | https://acadrev.duan.edu.ua/images/PDF/2025/2/14.pdf |
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| Summary: | The article examines the issue of the structure of a Balanced Scorecard, by which the authors
understand the composition of the system’s perspectives and the approaches to their selection. The
traditional structure of the BSC is considered, along with modern trends regarding its expansion with
additional perspectives that mostly reflect relationships with external stakeholders of the enterprise
or the need to take into account their influence on the enterprise’s operations. It is noted that the
BSC approach to the formalization of enterprise strategies is in demand and effective; however, the
traditional structure of the BSC under modern business conditions has certain disadvantages due to the
evolutionary development of strategic management.
Therefore, it is proposed to revise the approach to the selection of strategic perspectives by
orienting it toward the functional principle and integrating the provisions of stakeholder theory into the
BSC. According to the authors, this will modernize the approach and make it more adapted to current
conditions.
It is proposed to include the perspectives of «Marketing,» «Production,» «Innovation» (end-
to-end), «Finance,» and «Personnel» in the strategic map. In addition, it is recommended to add a superstructure to the strategic map that incorporates a system of strategic goals aligned with the
interests of key and potential stakeholders, based on the model of R.K. Mitchell, B.R.
The authors’ vision regarding the implementation of each of the BSC perspectives is presented.
The composition of indicator groups is substantiated, as well as the specific indicators that can reflect
the strategic goals and key success factors of the enterprise in achieving its strategies.
The proposed approach to improving the Balanced Scorecard determines its structure based
on a clear criterion – functional features – allowing for a consistent and clear demonstration of the
connection between all functional strategies of the enterprise. It highlights increasing attention to
non-financial goals and indicators by forming a system of main strategic goals, determining expected
stakeholders, and aligning with modern trends in management (for example, in the context of business
decarbonization). Additionally, it allows for a more comprehensive consideration of the state and
trends in the immediate external environment of the enterprise, among other factors. |
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| ISSN: | 3041-2137 3041-2145 |