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Balanced Scorecard Concept in Romanian Small and Medium enterprises

Author

Listed:
  • Anna Siemionek

    (University of Gdansk)

  • Malgorzata Siemionek

    (University of Warmia and Mazury in Olsztyn)

Abstract

The purpose of this paper is to explore the implementation of a performance management system using the balanced scorecard (BSC) within Romanian small and medium sized enterprises (SME). This is a casebased methodological approach. This ensured that the issues were appraised in both an operational and a strategic context. The findings of this research are that balanced scorecards can be implemented within a SME context. However, the motivations for the adoption of the scorecard were both internal and external due to the heavily regulated nature of the organization. The paper analyses the application of the Balanced Scorecard (BSC) in Romanian Small and Medium enterprises (SMEs). Actions necessary for its implementation, obstacles and BSC development trends have been presented.

Suggested Citation

  • Anna Siemionek & Malgorzata Siemionek, 2015. "Balanced Scorecard Concept in Romanian Small and Medium enterprises," Working Papers 98/2015, Institute of Economic Research, revised Apr 2015.
    • Handle: RePEc:pes:wpaper:2015:no98
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    More about this item

    Keywords

    Balanced scorecard; strategy; performance management; SMEs; Romanian enterprises;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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