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Empirical Study on the Indicators of Sustainable Performance – the Sustainability Balanced Scorecard, Effect of Strategic Organizational Change

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  • Maria Radu

    (Academy of Economic Studies, Bucharest, Romania)

Abstract

The sustainable organizational change has an ever increasing importance, leading to the rethinking of the management and systems of performance measurement and monitoring within the companies. As a reaction to current economic phenomena, in the first section of this work we tried to bring out the need for using the couple Balanced Scorecard - Corporate Social Responsibility by companies. Thus, companies involved in sustainable actions must grant a great importance to the impact of environmental, social and economic factors in providing added value, informing the interested parties and reflecting the reporting of sustainable performance. As a consequence, in the second part of the work we present the Sustainability Balanced Scorecard for the implementation of efficient strategies which cumulate the economic, social and environmental aspects as integrating system for sustainable performance and as a new challenge for organizational change. The key performance indicators included in the Sustainability Balanced Scorecard are quantified by the indicators of sustainable development, based on which the empirical research described in the third section of the work was achieved. Through the quantitative analysis of the economic and ecological indicators (Gross Domestic Product per capita, respective, Environmental Performance Index) in correlation with the social indicator (Global Competitive Index), we conclude that the implementation of green strategies by companies leads to sustainable economic growth.

Suggested Citation

  • Maria Radu, 2012. "Empirical Study on the Indicators of Sustainable Performance – the Sustainability Balanced Scorecard, Effect of Strategic Organizational Change," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(32), pages 451-469, June.
    • Handle: RePEc:aes:amfeco:v:14:y:2012:i:32:p:451-469
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    References listed on IDEAS

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    1. Vasile Dinu, 2011. "Corporate Social Responsibility – Opportunity for Reconciliation between Economical Interests and Social and Environmental Interests," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 13(29), pages 6-7, February.
    2. Noelia Romero Castro & Juan Piñeiro Chousa, 2006. "An integrated framework for the financial analysis of sustainability," Business Strategy and the Environment, Wiley Blackwell, vol. 15(5), pages 322-333, September.
    3. Pratima Bansal, 2005. "Evolving sustainably: a longitudinal study of corporate sustainable development," Strategic Management Journal, Wiley Blackwell, vol. 26(3), pages 197-218, March.
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    Cited by:

    1. Alina Steblyanskaya & Zhen Wang & Elena Ryabova & Svetlana Razmanova, 2019. "Russian Gas Companies’ Financial Strategy Considering Sustainable Growth," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 231-241.
    2. Nicoleta CONSTANDACHE & Gheorghe CHIRU, 2015. "Balanced Scorecard: Organizational performance management instrument," EuroEconomica, Danubius University of Galati, issue 2(34), pages 97-112, November.

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    More about this item

    Keywords

    sustainability; organizational change; Sustainability Balanced Scorecard; performance indicators; competitiveness;
    All these keywords.

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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