The Balanced Scorecard of Kaplan and
Norton is a management tool that
supports the successful implementation of
corporate strategies. It has been discussed
and considered widely in both practice
and research. By linking operational and
non-financial corporate activities with
causal chains to the firm’s long-term
strategy, the Balanced Scorecard supports
the alignment and management of all
corporate activities according to their
strategic relevance. The Balanced
Scorecard makes it possible to take into
account non-monetary strategic success
factors that significantly impact the
economic success of a business. The
Balanced Scorecard is thus a promising
starting-point to also incorporate
environmental and social aspects into the main management system of a firm.