The Assessment of Business Performance Based on a Balanced Scorecard

Abstract

Energy companies establish business models with the account of their financial goals and key performance indicators. In order to develop a Balanced Scorecard (a balanced system of indicators) for energy companies, it is advisable to apply key performance indicators in four perspectives: financial, customer, internal business process, and learning and growth. Using the method of expert survey, the authors of the present article have ranked the indicators within each strategic perspective. The ranking data received can lay the foundation for the development of incentive systems. Additionally, the article illustrates the example case of developing key performance indicators; it can be used to systematize approaches to the development of key performance indicators for branches of energy companies.