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The Balanced Scorecard and its Applications in China

The Balanced Scorecard and its Applications in China

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As China continues to grow economically, strategic management is becoming increasingly important for organizations in China. Chinese executives and managers are eager to learn about how to compete successfully in both domestic and global markets. Increasing compe­tition is stimulating their thirst for learning how to develop strategically effective approach to formulating, executing and adjusting organi­zational strategy in China. This study provides some foundational material about the Balanced Scorecard and shows how to apply the BSC in a way that is consistent with Chinese culture, traditions and in the contexts of diverse Chinese organizations. It highlights how to balance the tension between the Chinese Confucian legacy of respect for authority with the competitive imperative to encourage individual empowerment and initiative.