Balanced scorecard as a tool supporting organization management

Abstract

PURPOSE: The purpose of this article is to present the Balanced scorecard as a tool to support management decisions in an organization.

DESIGN/METHODOLOGY/APPROACH: The research method used is an analysis of secondary data available in the literature and an analysis of the application of the method in the organisation.

FINDINGS: The paper presents the stages of implementing a strategic scorecard in organisations and the effects that can be achieved by an enterprise implementing this method in its management processes. The research method used is an analysis of secondary data available in the literature and an analysis of the application of the method in the organisation.

PRACTICAL IMPLICATIONS: The analysis of the literature data carried out makes it possible to apply the described method in the practical operation of an organisation. The application of the strategic scorecard in an organisation makes it possible to improve the effectiveness of the company's functioning. The presented method can increase the effectiveness of the organisation's functioning and thus increase its competitiveness.

ORIGINALITY/VALUE: The originality of the research conducted can be assessed from the point of view of the applicability of the method described and its impact on organisational management. The practical aspects of the application of the strategic scorecard are also presented. The development of the economy and changing consumer preferences require the application of new management methods responding to these changing expectations. The studies carried out weave into the general body of scientific work of various, social and economic studies. The studies presented provide some scientific value, with the opportunity to view the full data analysed and evaluated.