Zrównoważona Karta Wyników jako instrument strategicznego zarządzania finansami w polskich gospodarstwach rolniczych – wyzwania i szanse
Balanced Scorecard as an Instrument of Strategic Financial Management in Polish Farms: Challenges and Opportunities

Summary/Abstract: Purpose – The aim of the study is to identify opportunities to implement the BSC as an instrument of strategic financial management in the Polish farms. The specific objectives include: (1) to present socio-economic specifics of the agricultural sector, which could potentially hinder the implementation of BSC; (2) to assess current implementations of the BSC, in terms of challenges (problems) and opportunities, particularly in practice of financial management. Design/Methodology/approach – This article is a review study, so the critical literature review was used as the dominant research method. A comparative approach was exposed. Findings – Evaluation of existing proposals for implementation of BSC indicates the need for a flexible adjustment of "architecture" of BSC (the set of perspectives, linkages, targets and initiatives) to the specifics of particular types of farms. Employing accounting systems, followed by business reporting, may promote operationalization of the "financial perspective" of BSC. Implementation of this instrument at farm-level typically requires cooperation with the agricultural advisor, or creating alliances with research units. Originality/value – The added value of this paper is an attempt to organize the current state of empirical research (including a relatively small number of studies) on the implementation of the BSC entities in the agricultural sector. We identified difficulties and opportunities associated with the implementation of this type of instrument, which is important from the point of view of further work applications.

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