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Balanced Scorecard – Strategic Management Tool of Performance in Public Institutions

Author

Listed:
  • Carmen Cretu

    (Danubius University of Galati)

  • Victoria Gheonea

    (Danubius University of Galati)

  • Alexandra Ivan

    (Danubius University of Galati)

Abstract

Balanced Scorecard (BSC) is used to achieve an operational strategic vision at all levels of the organization regarding issues related to performance, strategy, communication, resource allocation, decision-making and competitiveness. BSC was created to restrict the limits of traditional financial and management tools and ensure unity of vision and long-term action in an organization. The main advantage of the method consists in guiding managers and departments, human resources, technological and financial resources towards the strategy of the organization. Unfortunately BSC is mainly used in private companies, because high costs and lack of specialists pose a real obstacle in implementing this instrument in public institutions. Our arguments attempts to show that the Balanced Scorecard can be the most appropriate among all the management tools for the public sector.

Suggested Citation

  • Carmen Cretu & Victoria Gheonea & Alexandra Ivan, 2015. "Balanced Scorecard – Strategic Management Tool of Performance in Public Institutions," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 11(1), pages 137-148, February.
    • Handle: RePEc:dug:actaec:y:2015:i:1:p:137-148
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    File URL: http://journals.univ-danubius.ro/index.php/oeconomica/article/view/2680/2365
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    Cited by:

    1. Charbel EL AMMAR, 2020. "iBalanced Scorecard: An effective Strategy Implementation in Lebanese Government Authorities," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 21(2), pages 146-164, May.
    2. Jaworzynska Magdalena, 2017. "Using Tools of Strategic Management in Medical Facilities of Lublin Region," Engineering Management in Production and Services, Sciendo, vol. 9(2), pages 82-89, June.

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