Abstract:
Since its inception in early ‘90s by Kaplan and Norton as a performance measurement system, the Balanced Scorecard (BSC) has generated considerable interest amongst researchers, practitioners and big organizations. Niven (2006) opined that 60% (sixty percent) of Fortune 1000 companies are in the process of implementing BSC or are planning to do so. A Bain & Co (2009) study revealed that around 54% of organizations in Europe, 49% in North America, 56% in Latin America, and 52% in Asia employ the BSC to measure performance. Harvard Business Review (Niven 2005,2006) was proclaimed as one of the 75 most influential ideas that emerged in the 20th (twentieth) century. The BSC can be viewed as a multifaceted tool in which, there exists a variety of approaches for a study of its features. In this paper, the author proposes a theoretical construct of a Balanced Scorecard involving the critical factors which plays a key role in strategy implementation in an organization. These factors however are also interrelated amongst themselves in the construct so developed which can be tested empirically. Furthermore, the researcher also proposes further research into this model through empirical validation of the same model.
