Implementation of the balanced scorecard in a brazilian state-owned company: the case of Petrobras

Abstract

The Balanced Scorecard (BSC), developed by Kaplan and Norton in 1992, responded to a need for consolidating the performance complexity of the organization and has been increasingly used since then. Among the advantages are the composition and visualization of performance measurements that reflect the companyâs business strategy. The BSC summarizes and indicates in a single document, performance from four perspectives, financial, clients, internal processes and learning and growth. This study is important because the BSC is the first systematic attempt to develop a project for a performance evaluation process that focuses on company objectives, coordination of individual decisions and a basis for the organizational learning. Therefore, applicable literature was reviewed and a presentation was made on implementation of the BSC at Petrobras, an integrated state-owned company acting in exploration, production, refining, commercialization and transport of oil and derivatives in Brazil and abroad.