How to profit from the balanced scorecard: An implementation roadmap

Purpose - The purpose of this paper is to identify a comprehensive set of potential determinants influencing the successful implementation of balanced scorecard (BSC). Design/methodology/approach - This research is an exploratory investigation into the BSC implementation based on a holistic view. This includes: a comprehensive scrutiny of the relevant literature; a comprehensive analysis of case studies of BSC implementations in organisations presented in the literature; and an exploratory global survey of 103 organisations in 25 countries that have already implemented or are in the process of implementing BSC. Findings - The roadmap presented in this paper has been taken from a model proposed in the study. The model contained 27 critical success factors which are expected to influence the BSC implementation. The model divides those factors into three levels, namely dominant, main, and supporting factors. Research limitations/implications - There is a need to empirically test and refine the proposed factors, and explore relationships among the various variables by collecting data from organisations that have already implemented BSC. Practical implications - The findings of this study are important and relevant to all the different sized organisations in the different sectors and industries. This study also makes a significant contribution to society in general. Originality/value - Generally, the generic factors proposed by this study should enhance the current practices of BSC implementation, which mostly follow narrowly-focused approaches. In essence, the results of this research will help management in making crucial decisions and in resource allocations that are required to make the BSC implementation a success.