Search Results (6)

Allocating scarce budgetary resources across the strategic objectives of the balanced scorecard (BSC) and the sustainability balanced scorecard (SBSC) is a central problem in sustainability-oriented strategic management. Existing approaches typically operate at the level of aggregated perspectives, rely on subjective weighting schemes, or ignore the causal structure of the strategy map. This article formalizes the problem as a cooperative game in which each strategic objective is a player and the value of every coalition combines the individual performance of its members with the synergies arising from the causal relationships of the strategy map, estimated through the decision-making trial and evaluation laboratory (DEMATEL). The Shapley value is adopted as the allocation rule. The resulting game is shown to be superadditive and convex, the Shapley value belongs to the Core, and the rule satisfies exhaustiveness, fairness, sensitivity to the strategy map, monotonicity, and convergence to the proportional rule. Computational experiments and sensitivity analyses support the robustness of the model. In an illustrative case—a sustainability balanced scorecard with ten objectives organized in five perspectives, whose dedicated sustainability perspective hosts a carbon-emission and an employee-safety objective, and a budget of USD 1M—the framework shifts $2.7\%$ of the total budget relative to a proportional allocation (individual objectives change by up to $12.3\%$), funds employee safety above financial cost reduction for any synergy weight $\gamma \ge 0.15$, keeps the combined share of the sustainability objectives stable within $0.6$ percentage points across the entire synergy range, and grants seed funding to sustainability objectives that enter the map without a measured baseline, providing a transparent and auditable basis for sustainable budget allocation. Full article

Soil vulnerability is commonly assessed using environmental indicators; however, the lack of systematic and continuous monitoring often leads to incomplete and fragmented data, particularly in surface coal mining areas affected by potentially toxic element (PTE) contamination. Existing studies mainly focus on impact assessment, with limited emphasis on structured decision-support frameworks for selecting optimal soil protection strategies. This study addresses this gap by proposing an integrated hybrid decision-making framework that combines the Analytic Hierarchy Process (AHP), Sustainability Balanced Scorecard (SBSC), and the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS). The main contribution lies in integrating strategic sustainability perspectives (SBSC) with quantitative multi-criteria methods (AHP and TOPSIS), enabling a transparent and consistent evaluation of soil protection strategies across environmental, economic, technical, and social dimensions. The framework was applied to the Kostolac mining and energy complex in Serbia as a representative case study, using data from the State of the Environment Report as the basis for expert evaluation. The results identify risk reduction and environmental effectiveness as the dominant criteria, while the Progressive Strategy (SBSC) achieved the highest ranking. Sensitivity analysis confirmed the robustness of the model. From a policy perspective, the findings support prioritizing sustainability-oriented and risk-reduction strategies in mining regulations and investment planning. Full article

Sustainability has become one of the main drivers of organizational performance. This study investigates the integration of sustainability with the balanced scorecard (BSC) as a framework for translating environmental management strategy into organizational performance. This review also seeks to map sustainability balanced scorecard (SBSC) research, clarifying its current role and identifying gaps and opportunities for future research. To achieve this, we sourced and reviewed 247 publications from the Web of Science index, corresponding to 129 scientific journals and 57 conference proceedings. Our analysis included content analysis and bibliometric analysis performed using the R packages Bibliometrix (version: 4.3.5), Biblioshiny, and CiteSpace (6.3.R1 Basic). The findings revealed that the SBSC enhances organizational capacity to align sustainability with strategic objectives, although significant implementation barriers remain, such as the selection of appropriate sustainability indicators and organizational resistance. This study contributes to advancing the theoretical and practical understanding of the SBSC while offering pathways for future research and application across sectors. Full article

The hotel industry has faced significant challenges in both the short and long term, particularly due to the impact of COVID-19, highlighting the need for strategic adjustments to ensure sustainability and growth. This study investigates the strategic elements emphasized in CEO messages published on hotel company websites and their relationship with current and future corporate performance. Utilizing text mining techniques and the Sustainability Balanced Scorecard (SBSC) framework, this research classifies key strategies into financial, customer, internal business processes, learning and growth, social responsibility, and security and safety perspectives. Empirical analysis using the 2SLS regression model reveals several critical findings. First, strategies emphasizing financial and customer perspectives positively influence future corporate performance, though no significant impact is observed on current performance. Second, internal business processes and learning and growth perspectives show no statistically significant relationship with either current or future corporate performance. Third, social responsibility initiatives have an immediate positive effect on current performance, but their long-term impact is negligible. Finally, security and safety perspectives negatively affect both short-term and long-term corporate performance, largely due to the associated costs. However, additional network analysis demonstrates that security and safety factors are interconnected with other strategic elements, suggesting their complementary importance for overall operational stability. The study highlights the critical role of transparent information delivery through CEO messages as a tool for communicating corporate vision and strategy, offering insights into how stakeholders can utilize this information for decision-making. These findings provide valuable theoretical and managerial implications for sustainable hotel management in a post-pandemic environment. Full article

This research examines the association between CEO messages and current and future corporate value on the websites of fashion companies. The research methods of this paper are as follows: First, we extract the fashion firm samples among companies listed in Korea’s KOSPI and KOSDAQ in 2020. Second, CEO messages’ text data on the homepage of the fashion companies are obtained by hand-collecting. The repeated words with high TF-IDF values are selected as keywords using text-mining techniques. Third, the CEO messages of the fashion firms are classified with one of finance, customer, internal management process, learning and growth, and corporate social standpoints by the SBSC framework. This research investigates through regression analysis whether firms that emphasize certain factors affect their future or current corporate value. As an additional test, using social network analysis, CONCOR analysis, and 2SLS analysis, the paper checks the objectivity and robustness of the empirical results. The results of this paper are as follows: The first finding presents that all the standpoints of the CEO messages of fashion firms had no significant association with current company value. These results imply that CEO messages posted on the company homepage are generally expressed from a long-term standpoint, and a long time is needed to realize their visions or goals expressed in the CEO message to actually effect corporate value. The second finding shows that the future firm value can be improved as firms mention more words related to the corporation’s social responsibility among CEO messages of the company homepages disclosed by fashion companies. This result implies that if a fashion firm shows its vision and goals related to corporate social responsibility and makes an effort to achieve them, the company value will be increased in the future. The results of the additional tests support the fact that there is a significant positive association between the mention of social responsibility in the CEO message of the company’s website and future firm value. The contributions of this study are as follows: First, on research topics in the field of accounting, this study utilizes text mining and the SBSC framework and quantified qualitative data to perform empirical analysis. Introducing this new and innovative methodology contributes to the development of convergence research. Second, the results of this study suggest that the contents of the company’s CEO message contain symbolic and implicit important information. In particular, this study proved through empirical analysis that companies’ effort and achievement related to social responsibility help increase corporate value in the long run. Full article

The issue of sustainability in company strategy has assumed crucial relevance in recent years. Many companies have implemented specific environmental and sustainability management systems such as the Sustainability Balanced Scorecard (SBSC), which integrates sustainability and the traditional Balanced Scorecard (BSC). However, environmental and sustainability aspects are often not linked to economic success, and qualitative analysis is not considered adequately by managers. Therefore, these dimensions remain unclear, because it is necessary to analyze the conditions under which the SBSC represents a suitable tool for sustainability value creation in more depth. In this context, the purpose of the study is to propose a new strategic framework to provide a way to manage critical issues connected to the SBSC. Thanks to the information obtained from a survey and interviews conducted with managers of Italian companies, we created an adjusted SBSC (ASBSC) that allows us to consider the critical aspects from a new perspective, named the critical perspective. The conceptual model is developed in five dimensions (conceptual, structural, environmental, social, and economic). Research findings suggest that considering the critical perspective makes it possible to build the ASBSC in order to achieve sustainability and economic success of the company. The proposed framework contributes to the existing literature on improving the performance of the SBSC. Full article