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Contribution of Balance Scorecard Model in Efficiency of Managerial Control

Author

Listed:
  • Bostan, Ionel

    (Alexandru Ioan Cuza University of Iasi, Bd. Carol Street, No. 22, Phone: 0232-201000, Romania)

  • Grosu, Veronica

    (Stefan cel Mare University of Suceava, Universitatii Street, No. 13, Phone: 0230-520263, Romania)

Abstract

able to guarantee the performance that creates a value superior to that of the competitors, so that this might be sustainable in time. For such an improvement of the performance and of the competitiveness in a dynamic and complex environment we can reveal as fundamental the implementation of the most efficient and most participative management audit systems, able to clarify its objectives and necessary methods in order to attain the objectives, as well as the connection between the defining processes of the strategies and the current operational activities. These controlling systems must be able to assess the performance, not only as regards the quantity but also the quality, based on the evolution of these results, as well. Thus, the 21st century companies, currently undergoing the market globalization process, need strategies that would allow them to face the continuous transformations of the world economy in order to succeed. Therefore, in order to take advantage of positive trends, markets need to be confronted with winning strategies, with instruments that create a valid orientation in the implementation of long-term objectives. The new economic reality is highly complex, thus triggering an equal development of the management techniques and control practices not to lose sight of a significant feature of the monitoring of the economic evolution and management decisions of companies. This is why the second part of the paper focuses on creating a BSC model for the Alfa Group in order to underline the applicative use of the new instrument for measuring the economic-financial performance, as well as to highlight its importance as means of communication with all categories of stakeholders.

Suggested Citation

  • Bostan, Ionel & Grosu, Veronica, 2011. "Contribution of Balance Scorecard Model in Efficiency of Managerial Control," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 178-199, September.
  • Handle: RePEc:rjr:romjef:v::y:2011:i:3:p:178-199
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    Citations

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    Cited by:

    1. ROMAN, Costica, 2018. "Real economy, reflection in the editorial-journalistic plan: Macrofinancial sketches," LawArXiv gn4ew, Center for Open Science.
    2. Ionel Bostan, 2016. "The Legal Regulation Of The Substitution Of The Budgetary Credit Release Authority In Exceptional Conditions," BRAND. Broad Research in Accounting, Negotiation, and Distribution, EduSoft Publishing, vol. 6(1), pages 28-31.
    3. BOSTAN, Ionel, 2018. "If It Is The Topic Of The Research Of The Informal Economy," LawArXiv fy3g9, Center for Open Science.
    4. Cristina Iacoban & Svetlana Mihaila & Elena Hlaciuc, 2020. "The Need To Improve Performance Indicators Used In The Global Evaluation Of The Company," Book chapters-LUMEN Proceedings, in: Carmen NÄ‚STASE (ed.), 16th Economic International Conference NCOE 4.0 2020, edition 1, volume 13, chapter 12, pages 130-138, Editura Lumen.
    5. BOSTAN, Ionel, 2018. "Advancing Research Into Sustainability Issues Starting With The Study Of Some Vectors Of Economic Dynamics," LawArXiv 47x35, Center for Open Science.
    6. ARTENE, Alin, 1915. "Focusing economic research on the issues of sustainability and environmental protection," LawArXiv g7hpy, Center for Open Science.
    7. ARTENE, Alin, 2018. "Focusing economic research on the issues of sustainability and environmental protection," SocArXiv jc6f5, Center for Open Science.
    8. Marian SOCOLIUC, 2016. "Interpretations Related To The Development Of The Economic And Financial Communication On A Group Level," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 5(Special I), pages 1-21, august.
    9. Ionel BOSTAN, & Elena Doina DASCÄ‚LU, 2016. "Strengthening The Sustainability Of Public Finances By Means Of Financial Law Focused On The Control And Audit Exercise," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 5(1), pages 1-48, January.

    More about this item

    Keywords

    Balance Scorecard; Key Performance Indicators; decisional processes; managerial control; efficient method;
    All these keywords.

    JEL classification:

    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other

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