Publications
Publications
- February 03, 2021
- Harvard Business Review Digital Articles
Reimagining the Balanced Scorecard for the ESG Era
By: Robert S. Kaplan and David McMillan
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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