UTILIZATION OF BALANCED SCORECARD AS A MANAGEMENT TOOL IN STATISTICAL INSTITUTES
UTILIZATION OF BALANCED SCORECARD AS A MANAGEMENT TOOL IN STATISTICAL INSTITUTES

Summary/Abstract: In the era of globalization, the social, economic and demographic fast changes made official statistics under increased pressure to provide more reliable, high quality, relevant and internationally comparable statistics for all users. Adoption of modern management tools can help them to face these challenges. An excellent management tool is Balanced Scorecard model as a probative tool for achieving better performance and efficiency in private and public sector. The purpose of the paper is to look at the Balanced Scorecard and discuss in which way it could be applied in official statistics. Methodology of the paper is based on extant literature on the BSC system and reports of BSC applications in other statistical institutes. Findings of the paper are that modified BSC can help statistical institutes to face the challenges in this fast changing environment, manage necessary changes to satisfy all stakeholders and face with increased demands for high quality information.

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