IDEAS home Printed from https://ideas.repec.org/a/cmk/journl/y2008p21-31.html

The Importance Of Balanced Scorecard As A Strategic Management Tool And Its Implementation In The Companies In R. Macedonia And Worldwide

Author

Listed:
  • Ljupco Eftimov;

    (Faculty of Economics-Skopje, University "Ss. Cyril and Methodius", R. Macedonia)

  • Lucija Eftimova

  • Marina Serafimoska

Abstract

Robert Kaplan and David Norton have been, and remained among the most influential authors in the field of Performance Management and their Balanced Scorecard still is the most successful concept in this field. This paper describes the evolution of Balanced Scorecard distinguishing three main evolution phases in its development, concerning the strategic and performance management literature. The paper examines the results of BSC implementation in the companies worldwide, and compares with the results of its employment in Republic of Macedonia. Also suggest potential improvements for ensuring higher implementation rate in Macedonia.

Suggested Citation

  • Ljupco Eftimov; & Lucija Eftimova & Marina Serafimoska, 2008. "The Importance Of Balanced Scorecard As A Strategic Management Tool And Its Implementation In The Companies In R. Macedonia And Worldwide," Journal Articles, Center For Economic Analyses, pages 21-32, December.
    • Handle: RePEc:cmk:journl:y:2008:p:21-31
    as

    Download full text from publisher

    File URL: http://journal.cea.org.mk/files/journals/1/articles/64/public/64-234-1-PB.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ittner, Christopher D. & Larcker, David F. & Randall, Taylor, 2003. "Performance implications of strategic performance measurement in financial services firms," Accounting, Organizations and Society, Elsevier, vol. 28(7-8), pages 715-741.
    2. Bontis, Nick & Dragonetti, Nicola C. & Jacobsen, Kristine & Roos, Göran, 1999. "The knowledge toolbox:: A review of the tools available to measure and manage intangible resources," European Management Journal, Elsevier, vol. 17(4), pages 391-402, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Md. Mominur Rahman & Bilkis Akhter, 2021. "The impact of investment in human capital on bank performance: evidence from Bangladesh," Future Business Journal, Springer, vol. 7(1), pages 1-13, December.
    2. Smith, Julia A. & England, Claire, 2019. "An ethnographic study of culture and performance in the UK lingerie industry," The British Accounting Review, Elsevier, vol. 51(3), pages 241-258.
    3. Chen, Clara Xiaoling & Lill, Jeremy B. & Lucianetti, Lorenzo, 2023. "Performance measurement system diversity and product innovation: Evidence from longitudinal survey data," Accounting, Organizations and Society, Elsevier, vol. 111(C).
    4. Jan Bouwens & Laurence Van Lent, 2007. "Assessing the Performance of Business Unit Managers," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 45(4), pages 667-697, September.
    5. Nguyen, Thi Thu & Mia, Lokman & Winata, Lanita & Chong, Vincent K., 2017. "Effect of transformational-leadership style and management control system on managerial performance," Journal of Business Research, Elsevier, vol. 70(C), pages 202-213.
    6. Jalal Delavaripour & Morvarid Alishiri, 2016. "Valuation of human resources in organization," Management Issues in Healthcare System, EUROKD, vol. 2, pages 4-16.
    7. Daniel RUSU, 2022. "Association of Knowledge Management with Strategic Management: Directions and Trends at International Level," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 7(1), pages 49-66, February.
    8. Thi Cam Tu Luong & Ann Jorissen & Ine Paeleman, 2019. "Performance Measurement for Sustainability: Does Firm Ownership Matter," Sustainability, MDPI, vol. 11(16), pages 1-35, August.
    9. O. Zeynep Akşin, 2007. "On valuing appreciating human assets in services," Naval Research Logistics (NRL), John Wiley & Sons, vol. 54(2), pages 221-235, March.
    10. Hofmann, Thorsten, 2011. "Balanced Scorecard: Theoretische Konzeption und Anwendung in der Praxis," Research Papers on Marketing Strategy 4/2011, Julius-Maximilians-Universität Würzburg, Lehrstuhl für BWL und Marketing.
    11. Hall, Matthew, 2008. "The effect of comprehensive performance measurement systems on role clarity, psychological empowerment and managerial performance," Accounting, Organizations and Society, Elsevier, vol. 33(2-3), pages 141-163.
    12. Cheng-Tsung Lu & Yeun-Wen Chang, 2016. "A Study on the Relationship between the Typology of Knowledge-Intensive Businesses (KIBs) and Performance Measurement Systems (PMS): Evidence from Taiwan," Accounting and Finance Research, Sciedu Press, vol. 5(4), pages 1-89, November.
    13. repec:dau:papers:123456789/3748 is not listed on IDEAS
    14. Smith, Steven D. & Thomas, Tyler F., 2024. "The effects of strategic alignment and strategic clarity on multidimensional task performance," Accounting, Organizations and Society, Elsevier, vol. 112(C).
    15. Pérez Granero, Luis & Guillén, Manuel & Bañón-Gomis, Alexis J., 2017. "Influencia de los factores de contingencia en el desarrollo del cuadro de mando integral y su asociación con un rendimiento mejor. El caso de las empresas españolas," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 20(1), pages 82-94.
    16. Nancy Vargas & M. Begoña Lloria & Salvador Roig-Dobón, 2016. "Main drivers of human capital, learning and performance," The Journal of Technology Transfer, Springer, vol. 41(5), pages 961-978, October.
    17. Rizwan Ellahi & Noman Mahmood & Bazla Ali Khan, 2020. "Concept of Inclusive Optimal Performance (IOP): Theoretical and Conceptual understanding on the inclusive relationship between Internal Simultaneous Performance (ISP) and External Simultaneous Performance (ESP)," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 16(1), pages 101-124.
    18. Taylor Randall & Serguei Netessine & Nils Rudi, 2006. "An Empirical Examination of the Decision to Invest in Fulfillment Capabilities: A Study of Internet Retailers," Management Science, INFORMS, vol. 52(4), pages 567-580, April.
    19. Ferrer, Julian & Ríos, Manriquez, 2006. "Administración del conocimiento en instituciones de educación superior. Un análisis conceptual [Knowledge management in higher education. A conceptual analysis]," MPRA Paper 2622, University Library of Munich, Germany.
    20. Jau-Yang Liu, 2018. "An Internal Control System that Includes Corporate Social Responsibility for Social Sustainability in the New Era," Sustainability, MDPI, vol. 10(10), pages 1-27, September.
    21. Sergeja Slapničar & Adriana Rejc Buhovac, 2014. "Identifying temporal relationships within multidimensional performance measurement," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 15(5), pages 978-993, November.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cmk:journl:y:2008:p:21-31. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marjan Nikolov (email available below). General contact details of provider: https://edirc.repec.org/data/ceaskmk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.