The Balanced Scorecard for SMEs: A Circular Approach

Stefano Biazzo () and Patrizia Garengo ()
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Stefano Biazzo: University of Padua
Patrizia Garengo: University of Padua

Chapter Chapter 2 in Performance Measurement with the Balanced Scorecard, 2012, pp 23-38 from Springer

Abstract: Abstract Scholarly literature offers methodologies for the implementation of a PMS that are based upon a top-down approach and that aim at translating strategy into action, with little consideration to the tendency of small enterprises not to give much importance to the formalisation of their strategic choices. In this chapter, the authors identify a circular methodology to implement a strategically aligned performance measurement system in SMEs. The proposed methodology is based on the Balanced Scorecard Model and features four main phases: (1) the analysis of current “individual dashboards” to actually show the performances that are kept under control; (2) the clarification of the key success factors (CSFs) underlying the measures under control; (3) the definition of the desired strategy map as a result of the comparison between CSFs that are currently under control and the desired strategy; (4) the translation of the desired strategy map into a dashboard of indicators necessary for the implementation of the strategy.

Keywords: Circular approach; Performance measurement system implementation; Performance measurement system design; Strategy map (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/978-3-642-24761-3_2

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