Balanced scorecard implementation in construction industry

Abstract

This paper presents Balanced Scorecard (BSC) as a strategy-based measurement system that could solve defining and implementing strategy. Construction companies often have a centralized organizational structure, an undetermined vision, and an emphasis on maximizing revenue. Focusing on achieving and maintaining short-term financial success can cause construction companies to underinvest in long-term value creation, specifically in the intellectual and intangible assets that provide future growth.