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How the Balanced Scorecard Is Implemented in the Spanish Footwear Industry

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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)

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.

Suggested Citation

  • Carlos Suárez-Gargallo & Patrocinio Zaragoza-Sáez, 2021. "How the Balanced Scorecard Is Implemented in the Spanish Footwear Industry," Sustainability, MDPI, vol. 13(10), pages 1-20, May.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:10:p:5641-:d:556931
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    References listed on IDEAS

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