Abstract
Organizational strategic programs are continuously evolving and gaining the attention of policy makers in order to construct organizations’ ecological and socioeconomic systems. The purpose of this study is to examine the relationship between the balanced scorecard (BSC) and sustainable development involving the mediated effect of political and regulatory influence. To achieve the core objectives of the research, the quantitative (positivism) research method is applied. The goal of the current research is made possible through the quantitative method because of its objective nature of reality. A total of 320 questionnaires were distributed among the different levels of managers; 280 respondents returned the questionnaire. The data are analyzed through a modern statistical tool called Smart-PLS, Partial Least Squares (PLS) is high graphical user interference software that is used to calculate Structural Equation Modeling (SEM) through PLS path modeling. Factor analysis is conducted to eliminate the variables that have no contribution and to reduce the variables to obtain better results in regression. The implications are for energy organizations that are struggling to deal with sustainable development and these tools can help them to achieve their sustainability goals. The study concludes that the adoption of BSC is essential to ensure sustainable development regardless of its challenges. Moreover, consideration of meta-constitutional rules as political influence is important to understand and address in order to mitigate financial loss. In nutshell, the use of BSC is highly recommended to eliminate the routine problems and to ensure environmental sustainability.
Highlights
IntroductionA balanced scorecard is a comprehensive framework of decisions and actions that results in the development and application of strategy designs for the organization’s goals (Singh and Arora 2018)
Since the purpose of this study is to examine the relationship between balanced scorecard and sustainable development (dependent varibalanced scorecard and sustainable development involving the mediated effects of political and regulatory influence, the associational iable) involving the mediated effects of political and regulatory influence, the associaapproach was utilized for data analys3.1
The graphical representation of the results is shown in graph that prominently elicits that male gender bar is higher than a female that means male participants were dominating in the study
Summary
A balanced scorecard is a comprehensive framework of decisions and actions that results in the development and application of strategy designs for the organization’s goals (Singh and Arora 2018). In today’s dynamic environment, stiff competition is pushing organizations to work aggressively on competitive systems with better strategies that can make firms work independently (Punniyamoorthy and Murali 2008; Singh and Arora 2018). The recent trend is more likely acceptable if those incorporate non-financial measures as it is becoming imperative for firms (Kaplan and Norton 1992, 2001). To make organizations stand out from the competition, a sustainable development agenda backed by a strong management system is becoming an urge in the recent era (Ardito and Dangelico 2018; Walls et al 2012)
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