Abstract
The transformation of strategic management systems over the past twenty-five years marks a fundamental evolution of the Balanced Scorecard (BSC) from a primarily retrospective performance measurement instrument into a holistic and multidimensional strategic management system (SMS) framework. This study aims to map the intellectual dynamics, publication trends, and global collaboration architecture within the BSC literature to comprehend its adaptation trajectory in response to the Industry 5.0 paradigm. Utilizing a descriptive-quantitative design, a bibliometric analysis was conducted on 736 documents retrieved from the Scopus database for the 2000–2025 period, employing Biblioshiny and VOSviewer software. The primary findings indicate a significant shift from a technocentric focus toward the integration of Triple Bottom Line (TBL) principles and Environmental, Social, and Governance (ESG) parameters, which emphasize systemic resilience and human well-being. Network analysis reveals the dominance of the United States and the United Kingdom as theoretical epicenters; however, there is a rapid decentralization of research toward emerging economies such as China, Iran, and India. The originality of this research lies in its 25-year longitudinal compilation, which validates the evolution of the BSC into an organizational nervous system capable of aligning digital efficiency with ecological responsibility. The practical implications affirm that the BSC remains an essential navigational instrument for modern organizations to achieve a balance between economic profitability and social sustainability in the era of artificial intelligence.
References
Abd-Elrahman, A.-E. H., Kamel, M. A., & Said, S. M. (2025). Measuring and managing organizational performance based on organizational capitals, service quality and BSC performance outcomes. Management Research Review, 48(1), 121–145. Scopus. https://doi.org/10.1108/MRR-11-2023-0875
Abueid, R., Rehman, S. U., & Nguyen, N. T. (2023). The impact of balanced scorecard in estimating the performance of banks in Palestine. EuroMed Journal of Business, 18(1), 34–45. Scopus. https://doi.org/10.1108/EMJB-03-2021-0047
Adel, H. M. (2021). Mapping and Assessing Green Entrepreneurial Performance: Evidence from a Vertically Integrated Organic Beverages Supply Chain. Journal of Entrepreneurship and Innovation in Emerging Economies, 7(1), 78–98. Scopus. https://doi.org/10.1177/2393957520983722
Adel, H. M., Khaled, M., Yehya, M. A., Elsayed, R., Ali, R. S., & Ahmed, F. E. (2024). Nexus among artificial intelligence implementation, healthcare social innovation, and green image of hospitals’ operations management in Egypt. Cleaner Logistics and Supply Chain, 11. Scopus. https://doi.org/10.1016/j.clscn.2024.100156
Alexakis, G., Timur, A., & Seither, B. (2025). When Intuition Marries Data-Driven Decisions: A Quality Management Case of How Pelican Sound Golf & River Club Averted Turmoil and Assured Its Future. Journal of Entrepreneurship, 34(1), 181–202. Scopus. https://doi.org/10.1177/09713557251317559
Alipour, F., Jamshidizadeh, S., Bastani, P., & Mehralian, G. (2022). The balanced scorecard as a strategic management tool in hospital pharmacies: An experimental study. Journal of Health Organization and Management, 36(6), 767–780. Scopus. https://doi.org/10.1108/JHOM-07-2021-0256
Al-Mawali, H. (2023). Proposing a strategy map based on sustainability balanced scorecard and DEMATEL for manufacturing companies. Sustainability Accounting, Management and Policy Journal, 14(3), 565–590. Scopus. https://doi.org/10.1108/SAMPJ-04-2022-0170
Alnoukari, M. (2021). A framework for big data integration within the strategic management process based on a balanced scorecard methodology. Journal of Intelligence Studies in Business, 11(1), 33–47. Scopus. https://doi.org/10.37380/jisib.v1i1.693
Alrawashdeh, Z., Mohd Rozar, N. B. M., Alajaleen, Y., & Albtoosh, Q. (2024). The relationship of public policy-making to the strategic performance according to the balance scorecard in the Jordanian transport companies. Journal of Maritime Research, 21(1), 212–219. Scopus.
Altwaijri, A. S., & Alhomedan, R. H. A. (2025). Strategic planning techniques and tools in business enterprises: A systematic literature analysis. Journal of Project Management (Canada), 10(2), 393–402. Scopus. https://doi.org/10.5267/j.jpm.2024.12.006
Antunes, A. L., Barateiro, J., & Cardoso, E. (2024). Strategic Analysis in the Public Sector Using Semantic Web Technologies. Digital Government: Research and Practice, 5(3). Scopus. https://doi.org/10.1145/3656587
Antunes, A. L., Cardoso, E., & Barateiro, J. (2025). The Balanced Scorecard Ontology: A Semantic Approach to Enhance Strategy Management. IEEE Engineering Management Review, 53(4), 121–140. Scopus. https://doi.org/10.1109/EMR.2024.3439880
Aria, M., & Cuccurullo, C. (2017). bibliometrix: An R-tool for comprehensive science mapping analysis. Journal of Informetrics, 11(4), 959–975. https://doi.org/10.1016/j.joi.2017.08.007
Asarian, M., Jami Pour, M., & Talafidaryani, M. (2025). Recognizing the ideal patterns of strategic flexibility, IT strategy and business performance: A cluster analysis approach. International Journal of Productivity and Performance Management, 74(3), 867–888. Scopus. https://doi.org/10.1108/IJPPM-11-2023-0593
Ashfahany, A. E., Jihad, M. R., Kurniawati, N. N., Hidayat, S., & Mustofa, T. A. (2024). Balanced scorecard approach to measuring the performance of a non-profit organization: Case study on a Waqf-based Pesantren in Indonesia. Problems and Perspectives in Management, 22(2), 600–614. Scopus. https://doi.org/10.21511/ppm.22(2).2024.47
Astuty, W., Lubis, A., Pasaribu, F., & Rahayu, S. (2023). STRATEGIC PRECISION: EXPLORING THE INFLUENCE OF STRATEGIC MANAGEMENT ACCOUNTING TECHNIQUES ON INVESTMENT EFFICIENCY DECISIONS WITH A FOCUS ON MODERATING ROLE OF OPERATIONS QUALITY CONTROL IN INDONESIAN MANUFACTURING COMPANIES. Operational Research in Engineering Sciences: Theory and Applications, 6(1), 458–479. Scopus. https://doi.org/10.31181/oresta/0601137
Chaker, F., Bonsu, S. K., El Ghaib, M. K., & Vázquez-Brust, D. (2021). Isn’t it time we transitioned to integrated sustainability? De-codifying the hard-soft divide from a systems-theoretic perspective. Sustainability Accounting, Management and Policy Journal, 12(2), 385–409. Scopus. https://doi.org/10.1108/SAMPJ-05-2020-0167
Córdova-Aguirre, L. J., & Ramon-Jeronimo, J. M. (2024). Designing a Sustainability Assessment Framework for Peruvian Manufacturing Small and Medium Enterprises Applying the Stakeholder Theory Approach. Sustainability (Switzerland), 16(5). Scopus. https://doi.org/10.3390/su16051853
da Silva Neiva, S., Ramaswamy, R. A., Amorim, W. S. D., de Andrade Lima, M., Barbosa, S. B., Pereira Ribeiro, J. M. P., Ceci, F., Schneider, J., Deggau, A. B., & Guerra, J. B. S. O. D. A. (2021). Sustainable urban development: Can the balanced scorecard contribute to the strategic management of sustainable cities? Sustainable Development, 29(6), 1155–1172. Scopus. https://doi.org/10.1002/sd.2215
Dağıdır, B. D., & Ozkan, B. (2024). A comprehensive evaluation of a company performance using sustainability balanced scorecard based on picture fuzzy AHP. Journal of Cleaner Production, 435. Scopus. https://doi.org/10.1016/j.jclepro.2023.140519
Damtoft, N. F., van Liempd, D., & Lueg, R. (2025). Sustainability performance measurement – a framework for context-specific applications. Journal of Global Responsibility, 16(1), 162–201. Scopus. https://doi.org/10.1108/JGR-05-2023-0082
de Jesus Alvares Mendes Junior, I., & Alves, M. D. C. (2023). The balanced scorecard in the education sector: A literature review. Cogent Education, 10(1). Scopus. https://doi.org/10.1080/2331186X.2022.2160120
Dwivedi, R., Prasad, K., Mandal, N., Singh, S., Vardhan, M., & Pamucar, D. (2021). Performance evaluation of an insurance company using an integrated balanced scorecard (bsc) and best-worst method (bwm). Decision Making: Applications in Management and Engineering, 4(1), 33–50. Scopus. https://doi.org/10.31181/dmame2104033d
Eftekhari, A., & Torabi, A. (2022). Drawing a Developed Strategy Map in Balanced Scorecard Model in an Iron and Steel Company. IEEE Engineering Management Review, 50(3), 58–69. Scopus. https://doi.org/10.1109/EMR.2022.3192247
Elbanna, S., Kamel, H., Fatima, T., & Eid, R. (2022). An investigation of the causality links in the balanced scorecard: The case of the Gulf Cooperation Council hospitality industry. Tourism Management Perspectives, 41. Scopus. https://doi.org/10.1016/j.tmp.2021.100934
El-Garaihy, W. H. (2021). Analysis of supply chain operations reference (SCOR) and balanced scorecard (BSC) in measuring supply chains efficiency using DEMATEL and DEA techniques. Journal of Global Operations and Strategic Sourcing, 14(4), 680–700. Scopus. https://doi.org/10.1108/JGOSS-07-2020-0034
Fedushko, S., Peráček, T., Syerov, Y., & Trach, O. (2021). Development of methods for the strategic management of web projects. Sustainability (Switzerland), 13(2), 1–18. Scopus. https://doi.org/10.3390/su13020742
Garefalakis, S., Angelaki, E., Spinthiropoulos, K., Tsamis, G., & Garefalakis, A. (2025). The Implementation of ESG Indicators in the Balanced Scorecard—Case Study of LGOs. Risks, 13(8). Scopus. https://doi.org/10.3390/risks13080154
Gholami, M., Johnson, E., Swanson, K., Rojas, C., & Bouland, D. (2025). Modernizing CTSA hub evaluation: An integrated system for performance monitoring and translational science impact assessment. Frontiers in Research Metrics and Analytics, 10. Scopus. https://doi.org/10.3389/frma.2025.1534394
Goldstein, J. C. (2022). Strategy maps: The middle management perspective. Journal of Business Strategy, 43(1), 3–9. Scopus. https://doi.org/10.1108/JBS-09-2020-0191
Gomes, M. J., Sousa, A., Novas, J., & Jordão, R. V. D. (2021). Environmental sustainability in viticulture as a balanced scorecard perspective of the wine industry: Evidence for the portuguese region of alentejo. Sustainability (Switzerland), 13(18). Scopus. https://doi.org/10.3390/su131810144
Gutman, S., Rytova, E. V., Sousa, C., & Kadzaeva, V. V. (2022). NEW FRAMEWORK OF ASSESSING THE IMPACTS OF COMPANIES ON REGIONAL SUSTAINABLE DEVELOPMENT: THE SAKHA CASE. Sever i Rynok: Formirovanie Ekonomiceskogo Poradka, 25(4), 23–39. Scopus. https://doi.org/10.37614/2220-802X.4.2022.78.002
Hamied, M. S. A., & Elbagoury, A. (2025). Balanced scorecards: Proposed framework for application at the local system level insights from international experiences. Review of Economics and Political Science, 10(1), 34–51. Scopus. https://doi.org/10.1108/REPS-08-2020-0109
Hegazy, M., Hegazy, K., & Eldeeb, M. (2022). The Balanced Scorecard: Measures That Drive Performance Evaluation in Auditing Firms. Journal of Accounting, Auditing and Finance, 37(4), 902–927. Scopus. https://doi.org/10.1177/0148558X20962915
Higginbotham, E. J., Hertz, K., Fahl, C., Duckett, D. B., Mahoney, K., & Jameson, J. L. (2023). Addressing Structural Racism Using a Whole-Scale Planning Process in a Single Academic Center. Health Equity, 7(1), 487–496. Scopus. https://doi.org/10.1089/heq.2023.0093
Höglund, L., Holmgren Caicedo, M., Mårtensson, M., & Svärdsten, F. (2021). Strategic management accounting in the public sector context: The case of the Swedish Transport Administration. Journal of Public Budgeting, Accounting and Financial Management, 33(4), 468–486. Scopus. https://doi.org/10.1108/JPBAFM-12-2019-0180
Hristov, I., Cristofaro, M., Camilli, R., & Leoni, L. (2024). A system dynamics approach to the balanced scorecard: A review and dynamic strategy map for operations management. Journal of Manufacturing Technology Management, 35(4), 705–743. Scopus. https://doi.org/10.1108/JMTM-02-2022-0069
Hugo, J., Callaghan, R., & Cronjé, J. (2024). A Strategy Development Framework for Educational Technology: An integrated Design Science Research and Modified Delphi Approach. Electronic Journal of E-Learning, 22(5), 60–75. Scopus. https://doi.org/10.34190/ejel.22.5.3568
Humphreys, K. A. (2023). The balanced scorecard: Do managers need a strategy map when evaluating performance? Accounting and Finance, 63(4), 4357–4373. Scopus. https://doi.org/10.1111/acfi.13097
Huynh, T. T.-M., Le-Hoai, L., & Pham, A.-D. (2024). A Sustainability-driven Integrated model of strategic management for coastal urban projects. Journal of Asian Architecture and Building Engineering, 23(5), 1624–1645. Scopus. https://doi.org/10.1080/13467581.2023.2270024
Huynh, T. T.-M., Pham, A.-D., & Le-Hoai, L. (2021). Building a strategic performance management model for enterprises investing to coastal urban projects toward sustainability. International Journal of Strategic Property Management, 25(2), 127–145. Scopus. https://doi.org/10.3846/ijspm.2021.14298
Kang, H., & Na, H. J. (2024). The Impact of a Company’s Management Strategy on Its Profitability, Stability, and Growth: A Focus on the Information Security Industry. Sustainability (Switzerland), 16(12). Scopus. https://doi.org/10.3390/su16125166
Kashchena, N., Nesterenko, I., Chmil, H., Kovalevska, N., Velieva, V., & Lutsenko, O. (2023). Digitalization of Biocluster Management on Basis of Balanced Scorecard. Journal of Information Technology Management, 15(4), 80–96. Scopus. https://doi.org/10.22059/jitm.2023.94711
KhanMohammadi, E., Safari, H., Zandieh, M., Malmir, B., & Tirkolaee, E. B. (2024). Development of Dynamic Balanced Scorecard Using Case-Based Reasoning Method and Adaptive Neuro-Fuzzy Inference System. IEEE Transactions on Engineering Management, 71, 899–912. Scopus. https://doi.org/10.1109/TEM.2022.3140291
Kicová, E., Rosnerová, Z., Poniščiaková, O., & Gajanova, L. (2023). Concept for the Customer Perspective of the Balanced Scorecard (BSC) System in Bus Transport Companies in the Slovak Republic. Systems, 11(12). Scopus. https://doi.org/10.3390/systems11120575
Krylov, S. (2025). Integrated business analysis as a result of the development of the concept of a balanced scorecard. Discover Sustainability, 6(1). Scopus. https://doi.org/10.1007/s43621-024-00758-6
Kumar, A., Brar, V., Chaudhari, C., & Raibagkar, S. S. (2023). Performance Management Through the Balanced Scorecard Approach by the South African Revenue Service. Public Organization Review, 23(3), 1143–1165. Scopus. https://doi.org/10.1007/s11115-022-00646-5
Kumar, J., Prince, N., & Kent Baker, H. K. (2022). Balanced Scorecard: A Systematic Literature Review and Future Research Issues. FIIB Business Review, 11(2), 147–161. Scopus. https://doi.org/10.1177/23197145211049625
Larsson, D., Ratnayake, R. M. C., & Samarakoon, S. M. S. M. K. (2025). Agile Balanced Scorecard and Strategy Map Framework for Engineering-to-Order Projects: Enhancing Adaptability and Performance. EMJ - Engineering Management Journal. Scopus. https://doi.org/10.1080/10429247.2025.2538065
León, G., León Cavero, E. A. L., Carrasco Vega, F. C., Ñaño, Y. L. C., & Isabel, S. (2022). Balanced scorecard and quality of urban life: Strategies for local development. Revista de Ciencias Sociales, 28(ESPECIAL 5), 246–255. Scopus. https://doi.org/10.31876/rcs.v28i.38160
Lim, S. E., & Ok, C. M. (2021). A meta-analytic review of antecedents of hospitality and tourism firms’ performance: A cross-cultural comparison. Tourism Management, 86. Scopus. https://doi.org/10.1016/j.tourman.2021.104325
Lina, L., Arifin, I., Mustiningsih, M., Triwiyanto, T., Ulfatin, N., Sultoni, S., & Wiyono, B. B. (2025). A comparative study of public and private high schools’ implementation of strategy maps to achieve strategic goals in the Industrial Revolution 4.0 era in Indonesia. Public Administration and Policy, 28(2), 215–228. Scopus. https://doi.org/10.1108/PAP-06-2024-0083
Malashenko, M., & Gutman, S. (2025). Modelling of Road Transport Safety Indicators in Russian Regions. Sustainability (Switzerland), 17(14). Scopus. https://doi.org/10.3390/su17146584
Martín-Gómez, A. M., Pineda-Ganfornina, M., Ávila-Gutiérrez, M. J., Agote-Garrido, A., & Lama, J. R. (2024). Balanced Scorecard for Circular Economy: A Methodology for Sustainable Organizational Transformation. Sustainability (Switzerland), 16(4). Scopus. https://doi.org/10.3390/su16041464
Michalski, D. (2024). Operationalization of ESG-Integrated Strategy Through the Balanced Scorecard in FMCG Companies. Sustainability (Switzerland), 16(21). Scopus. https://doi.org/10.3390/su16219174
Mushtaha, A., Aljifri, K., & Zoubeidi, T. (2024). Critical success factors of effective implementation of balanced scorecard and organisational performance: Case of UAE private hospitals. Journal for International Business and Entrepreneurship Development, 16(3), 425–446. Scopus. https://doi.org/10.1504/JIBED.2024.142500
Nazari-Ghanbarloo, V. (2022). A dynamic performance measurement system for supply chain management. International Journal of Productivity and Performance Management, 71(2), 576–597. Scopus. https://doi.org/10.1108/IJPPM-01-2020-0023
Nie, Y., Hicks, B., Nassehi, A., & Valero, M. R. (2025). Aligning sustainable development goals and stakeholders’ needs in food supply chains: A comprehensive review and mapping. International Journal of Production Research. Scopus. https://doi.org/10.1080/00207543.2025.2600550
Oyewo, B., Moses, O., & Erin, O. (2022). Balanced scorecard usage and organizational effectiveness: Evidence from manufacturing sector. Measuring Business Excellence, 26(4), 558–582. Scopus. https://doi.org/10.1108/MBE-01-2021-0005
Oyewo, B., Olowo, R., & Obanor, A. (2021). Is the Use of Integrated Performance Measurement System by Banks Really “Integrated”? A Structural Equation Modeling Approach. Journal of East-West Business, 27(3), 259–290. Scopus. https://doi.org/10.1080/10669868.2021.1892008
Palaniappan, U., & Suganthi, L. (2024). Reckoning the performance of management institutions – A Mamdani fuzzy inference system approach. International Journal of Productivity and Performance Management, 73(8), 2441–2479. Scopus. https://doi.org/10.1108/IJPPM-05-2023-0214
Piantoni, G., Dell’Agostino, L., Arena, M., & Azzone, G. (2023). Assessing shared value in innovation ecosystems: A new perspective of scorecard. International Journal of Productivity and Performance Management, 73(11), 190–212. Scopus. https://doi.org/10.1108/IJPPM-02-2023-0067
Quesado, P., Marques, S., Silva, R., & Ribeiro, A. (2022). The Balanced Scorecard as a Strategic Management Tool in the Textile Sector. Administrative Sciences, 12(1). Scopus. https://doi.org/10.3390/admsci12010038
Quezada, L. E., López-Ospina, H. A., Ortiz, C., Oddershede, A. M., Palominos, P. I., & Jofré, P. A. (2022). A DEMATEL-based method for prioritizing strategic projects using the perspectives of the Balanced Scorecard. International Journal of Production Economics, 249. Scopus. https://doi.org/10.1016/j.ijpe.2022.108518
Rahuma, A., & Fethi, S. (2022). A new approach to evaluate environmental strategy: Empirical evidence from international petroleum companies using the balanced scorecard model. Business Strategy and the Environment, 31(7), 3152–3165. Scopus. https://doi.org/10.1002/bse.3068
Rai, P., & Bera, S. (2025). Prioritizing performance objectives of vaccine supply chain for future pandemics. Journal of Humanitarian Logistics and Supply Chain Management, 15(4), 347–365. Scopus. https://doi.org/10.1108/JHLSCM-05-2024-0072
Rao, P. K., & Shukla, A. (2024). Strategic sustainability in Indian banking industry: A performance analysis. International Journal of Productivity and Performance Management, 73(6), 2016–2034. Scopus. https://doi.org/10.1108/IJPPM-04-2023-0199
Ritter, M., & Schanz, H. (2021). Carsharing business models’ strategizing mindsets regarding environmental sustainability. Sustainability (Switzerland), 13(22). Scopus. https://doi.org/10.3390/su132212700
Rockett, E. (2025). Innovative solutions to fashion’s biggest problems – the impact of artificial intelligence on solutions for Sustainable Development Goals 9 and 12. A case study from London College of Fashion. International Journal of Educational Management. Scopus. https://doi.org/10.1108/IJEM-12-2024-0853
Rouhana, R., & van Caillie, D. (2025). How do performance monitoring systems support sustainability in healthcare? Society and Business Review, 20(3), 437–454. Scopus. https://doi.org/10.1108/SBR-07-2024-0244
Santarsiero, F. (2023). Developing a strategic planning model for developing, monitoring and evaluating digital transformation initiatives: A soft system approach. Measuring Business Excellence, 27(3), 449–459. Scopus. https://doi.org/10.1108/MBE-02-2023-0023
Sartzetaki, M., Karagkouni, A., & Dimitriou, D. (2025). Enterprise Strategic Management Upon Sustainable Value Creation: A Fuzzy Topis Evaluation Tool for Transport and Supply Chain Enterprises. Sustainability (Switzerland), 17(11). Scopus. https://doi.org/10.3390/su17115011
Shah, S. H. H., Lei, S., Ali, M., Doronin, D., & Hussain, S. T. (2019). Prosumption: Bibliometric analysis using HistCite and VOSviewer. Kybernetes, 49(3), 1020–1045. https://doi.org/10.1108/K-12-2018-0696
Suárez-Gargallo, C., & Zaragoza-Sáez, P. (2021). How the balanced scorecard is implemented in the spanish footwear industry. Sustainability (Switzerland), 13(10). Scopus. https://doi.org/10.3390/su13105641
Terzi Coban, D., & Uslu, O. (2025). Institutional Performance Evaluation at TUIK: A Model Proposal Based on the Balanced Scorecard. Administration and Society, 57(5), 567–608. Scopus. https://doi.org/10.1177/00953997251328919
Tripathi, S., & Roy, S. S. (2024). Linking supply chain performance with organizational strategic performance – a review and research agenda. International Journal of Productivity and Performance Management, 73(7), 2037–2067. Scopus. https://doi.org/10.1108/IJPPM-09-2022-0461
Vasconcelos, C. R., Carvalho, R. S. M. C., Coutinho de Melo, F. J. C., & Medeiros, D. D. (2023). Improving Quality in Public Health Service: An Integrated Approach to the Kano Model and the Balanced Scorecard. Journal of Nonprofit and Public Sector Marketing, 35(2), 215–241. Scopus. https://doi.org/10.1080/10495142.2022.2066598
Vega, M., Mercedes, L., Molero, V., Carmen, M. D., Pimiento, T., Enrique, D., & Cerpa, F. (2025). Cuadro de mando integral un Océano Azul: Direccionamiento estratégico del turismo cultural de Barranquilla, Colombia*. Revista de Ciencias Sociales, 31(2), 183–198. Scopus. https://doi.org/10.31876/rcs.v31i2.43756
Vracheva, V., & Moussetis, R. C. (2025). The Efficacy of Igor Ansoff’s Strategic Success Hypothesis: A Comparative Analysis of Strategic Diagnostic Models. Strategic Change. Scopus. https://doi.org/10.1002/jsc.70037
Waddock, S. (2025). Advancing eco-social strategic management: A whole systems lens. Sustainability Science, 20(6), 2335–2354. Scopus. https://doi.org/10.1007/s11625-025-01723-6
Yawson, R. M., & Paros, A. K. B. (2023). Systems Perspective of the Use of the Balanced Scorecard for Organization Development and Change. SAGE Open, 13(4). Scopus. https://doi.org/10.1177/21582440231218064
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.