Operationalising the balanced scorecard : an initial analysis of factor structure

To date there has been very little empirical analysis of the Balanced Scorecard (BSC) within the marketing literature. With measuring performance being a central issue in marketing and the BSC being one of the most utilised approaches, this paper investigates the BSC and its factor structure. This research tested independently the “goodness-of-fit” of both the traditional four-factor model and a later five-factor model, which included an “employee/human resource” dimension. Data were collected from a sample of medium-tolarge Australian businesses. Factor analysis was conducted on the two alternative factor structures, revealing that the five-factor model fits the observed data as well as does the fourfactor model, supporting the inclusion of an “employee/human resource” perspective in future BSC models.