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Reimagining the Balanced Scorecard for the ESG Era

By: Robert S. Kaplan and David McMillan
  • Format:Electronic
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Abstract

Companies are increasingly aware that their customers and society in general expect businesses to adopt and work towards social and environmental objectives as well as the traditional financial ones. This involves not only re-evaluating firms’ models but re-imagining new, more inclusive ecosystems from a multi-stakeholder point of view. In this article, the authors propose an update to the Balanced Scorecard, one of the most successful management tools of all time, so that it can better help align stakeholders coming from very different places around each other’s goals as well as their own.

Keywords

ESG (Environmental, Social, Governance) Performance; Business Ecosystems; Balanced Scorecard; Adaptation; Business Model; Business and Stakeholder Relations

Citation

Kaplan, Robert S., and David McMillan. "Reimagining the Balanced Scorecard for the ESG Era." Harvard Business Review Digital Articles (February 3, 2021).
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About The Author

Robert S. Kaplan

Accounting and Management
→More Publications

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  • Innovations in Evaluating Ambulatory Costs of Cystic Fibrosis Care: A Comparative Study Across Multidisciplinary Care Centers in Ireland and the United States By: Emma Brady, Ryan C. Perkins, Kate Cullen, Gregory S. Sawicki, Robert S. Kaplan and Gerardine Doyle
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