Using balanced scorecard to measure and align corporate social responsibility for competitive advantage
Balanced Scorecard (BSC) translates an organization s mission and strategy into a comprehensive set of performance measures and provides the framework for strategic measurement and management. BSC is currently being used worldwide as a tool for implementing enterprise strategy. Meanwhile, Corporate...
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| Main Authors: | , , , |
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| Format: | Conference or Workshop Item |
| Published: |
2007
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| Subjects: | |
| Online Access: | http://eprints.uthm.edu.my/342/ http://eprints.uthm.edu.my/342/1/Using_Balanced_Scorecard_to_Measure_and_Align_Corporate_Social_Responsibility_for_Competitive_Advantage.pdf |
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| Summary: | Balanced Scorecard (BSC) translates an organization s mission and strategy into a comprehensive set of
performance measures and provides the framework for strategic measurement and management. BSC is
currently being used worldwide as a tool for implementing enterprise strategy. Meanwhile, Corporate
Social Responsibility (CSR) can become a potent tool for the company to realize enhanced reputation and
brad value, increased operational efficiency, improved sales and customer loyalty as well as the ability to
attract and retains quality workforce. This researcher tried to demonstrate the relationship between BSC
as a tool for managing and communicating CSR For the purpose of that, the researcher using four (4)
main perspectives in BSC which is financial perspective, internal business process perspective, learning
and growth perspective and customer perspective. BSC can be used to align and measure CSR to create
competitive advantage by helping organizations strategically manage the alignment of cause and effect
relationships of external market forces and impacts with internal CSR drivers, values and behaviors. BSC
provides many benefits to an organization such as it creates accountability for the goals and objectives in
an organization, it connects strategy to performance, it provides a way of identifying whether or not
progress is being made and gives the organization opportunity to adjust as necessary, it helps people in
the organization understand cause-and-effect relationships of things they do. |
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