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Green Balanced Scorecard: A Tool of Sustainable Information Systems for an Energy Efficient Business

Author

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  • Eirini Stavropoulou

    (Department of Management Science and Technology, University of Western Macedonia, GR50100 Kozani, Greece)

  • Konstantinos Spinthiropoulos

    (Department of Management Science and Technology, University of Western Macedonia, GR50100 Kozani, Greece)

  • Konstantina Ragazou

    (Department of Accounting and Finance, University of Western Macedonia, GR50100 Kozani, Greece
    Department of Economics and Business, Neapolis University Pafos, Pafos 8042, Cyprus)

  • Christos Papademetriou

    (Department of Economics and Business, Neapolis University Pafos, Pafos 8042, Cyprus)

  • Ioannis Passas

    (Department of Business Administration and Tourism, Hellenic Mediterranean University, GR71410 Heraklion, Greece
    Department of Accounting and Finance, Neapolis University Pafos, Pafos 8042, Cyprus)

Abstract

A green balanced scorecard allows businesses to monitor their environmental progress and energy use, as well as quantify their achievements toward decreasing their ecological footprint. The scope of the current research is twofold: (i) to highlight the new sustainable profile of the Balanced Scorecard; and (ii) to investigate the contribution of the Sustainable Balanced Scorecard to the achievement of the energy efficiency and environmental goals of businesses. The present research study applies the rigorous bibliometric analysis technique and the PRISMA method for the years 2011–2023 to investigate the most popular research sources and documents, where the most frequently used keywords and research trends are utilized to answer the research question. In addition, findings from the network, content, and cluster analyses were visualized with the use of the bibliometric tools of Biblioshiny and VOSviewer. The results of the study indicate that businesses have made it a priority to build an energy-efficient management system based on the Sustainable Balanced Scorecard, which will help them achieve their organization’s environmental strategic goals. Moreover, a new era in the Sustainable Balanced Scorecard, that of the Contact Balanced Scorecard, has started emerging in the field. This article explains how the Sustainable Balanced Scorecard benefits organizations by enabling them to enhance their performance on both the economic and social fronts as well as the environmental front. Finally, by employing strategic evaluation methods like the Sustainable Balanced Scorecard to analyze organizations’ sustainability performance, the present study effort supports the sustainable growth of enterprises.

Suggested Citation

  • Eirini Stavropoulou & Konstantinos Spinthiropoulos & Konstantina Ragazou & Christos Papademetriou & Ioannis Passas, 2023. "Green Balanced Scorecard: A Tool of Sustainable Information Systems for an Energy Efficient Business," Energies, MDPI, vol. 16(18), pages 1-18, September.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:18:p:6432-:d:1233565
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    References listed on IDEAS

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    4. Luay Jum’a & Dominik Zimon & Muhammad Ikram, 2021. "A Relationship between Supply Chain Practices, Environmental Sustainability and Financial Performance: Evidence from Manufacturing Companies in Jordan," Sustainability, MDPI, vol. 13(4), pages 1-20, February.
    5. Leng, Jiewu & Ruan, Guolei & Jiang, Pingyu & Xu, Kailin & Liu, Qiang & Zhou, Xueliang & Liu, Chao, 2020. "Blockchain-empowered sustainable manufacturing and product lifecycle management in industry 4.0: A survey," Renewable and Sustainable Energy Reviews, Elsevier, vol. 132(C).
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    Cited by:

    1. Alejandro M. Martín-Gómez & María Pineda-Ganfornina & María Jesús Ávila-Gutiérrez & Alejandro Agote-Garrido & Juan Ramón Lama-Ruiz, 2024. "Balanced Scorecard for Circular Economy: A Methodology for Sustainable Organizational Transformation," Sustainability, MDPI, vol. 16(4), pages 1-20, February.

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