engleski

CONDUCTING STRATEGIC CONTROL WITH THE BALANCED SCORECARD

Although present performance models, e.g. the Balanced Scorecard (BSC) and the Excellence model (EFQM), have accomplished huge success within academe, they have failed in practice, especially in aligning the strategy with the environment. Even though BSC or EFQM have always been regarded as exclusive tools, this study introduces a model that integrates these two models using Analytic Hierarchy Process (AHP). Thus, EFQM criteria serve as the AHP criteria for selecting strategic objectives. Afterwards, the strategic objectives are distributed into the four the perspectives of BSC. The model’s verification showed how the integration is crucial for achieving strategic control. This study also confronts many authors who have put EFQM and BSC against each other and shows them as complementary tools for managing performance. Therefore if an organization wants to align the strategy with the environment and thus initiate strategic control, BSC and EFQM ought to be used together.

BSC; EFQM; AHP; model; integration

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