How the Balanced Scorecard Is Implemented in the Spanish Footwear Industry

Carlos Suárez-Gargallo and Patrocinio Zaragoza-Sáez
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Carlos Suárez-Gargallo: Department of Management, Faculty of Economics and Business Sciences, University of Alicante, 03690 San Vicente, Spain
Patrocinio Zaragoza-Sáez: Department of Management, Faculty of Economics and Business Sciences, University of Alicante, 03690 San Vicente, Spain

Sustainability, 2021, vol. 13, issue 10, 1-20

Abstract: This paper provides a deeper knowledge of the implementation of the Balanced Scorecard (BSC) in the Spanish footwear industry, under an exploratory research which has been conducted with a final sample of seven firms. An online questionnaire was developed, supported by phone calls and a personal interview. An 18–24-month-period has been found to be enough to develop solid foundations for a BSC. Financial and non-financial measures are presented in the whole firms and in the majority of the four perspectives, linked by cause-and-effect relationships, showing a high development in the BSC implementation. BSCs with a high grade of development are more likely to identify their intangibles as well as include them in the firm’s strategy. A personal BSC has been identified as a limitation. Although the strategy is spread out with meetings in the whole firms, it is not known at all levels, showing a gap to be fulfilled. Strategy maps are key in BCS implementation: they are present in the majority of the firms and show that the performance drivers reach the strategy. Firms with a high grade of development and expectation, using both financial and non-financial measures linked by cause-and-effect relationships, are more likely to define sustainable measures, integrating them in their own BSC.

Keywords: balanced scorecard; footwear industry; exploratory case study (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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