Article2005

Shaping the balanced scorecard for use in UK social enterprises

118 citations0/0 files storedSocial enterprise journal

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Accounting and Organizational Management Entrepreneurship Studies and Influences Community Development and Social Impact

Abstract

Purpose To develop and apply the social enterprise balanced scorecard (SEBS) as an amended balanced scorecard technique for use evaluating UK social enterprises. Design/methodology/approach The study involved exploring the potential mainstream application of the balanced scorecard in UK social enterprises to learn how this process show the ways in which social enterprises can develop, and implement and track the performance of their socially driven strategies. Describes the development of an SEBS and its testing by 12 social enterprises in a pilot training programme (August 2004‐December 2004). Findings The results indicated that the SEBS had changed participant views about their organizations in terms of: increased employee understanding about their organization as a business; the usefulness as a business planning tool for social enterprises; the natural fit of the SEBS alongside the existing UK quality accreditation scheme of Investors In People; the power of the SEBS to be an effective means to engage staff and team members as an early‐warning system for potential problems; helping to redress the balance between purely financial gains and social purpose; and providing focus, clarity, and the ability to remove non‐essential detail from strategic planning. Concludes that: Kaplan and Norton’s balanced scorecard is capable of being adapted to suit social enterprises; positive outcomes include creating a common language through which social entrepreneurs can share and compare experience, even if they operate in different industries; and the application of the SEBS can enable organizations to become better businesses, while demonstrating social value added to stakeholders. Originality/value Reveals the benefits of extending the balanced scorecard approach to the evaluation of social enterprises.

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References

1998The Balanced Scorecard 2001Strategic Performance Measurement and Management in Nonprofit Organizations 2000The Balanced Scorecard: Judgmental Effects of Common and Unique Performance Measures 2003Balanced Scorecard Step-by-Step for Government and Nonprofit Agencies 1999The balanced scorecard: a necessary good or an unnecessary evil?2003Rethinking performance measurement: beyond the balanced scorecard 2004Debiasing Balanced Scorecard Evaluations

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2009A strategic approach to social impact measurement of social enterprises 2015Indicators and metrics for social business: a review of current approaches 2006Applying sustainability indicators to the social enterprise business model 2008Social enterprises: diversity and dynamics, contexts and contributions 2018The evolution of social entrepreneurship research: a bibliometric analysis 2017Measuring to Improve Versus Measuring to Prove: Understanding the Adoption of Social Performance Measurement Practices in Nascent Social Enterprises

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