The Impact of Dynamic Balanced Scorecard in Knowledge Intensive Organizations' Business Process Management: A New Approach Evidenced by Small and Medium Size Enterprises in Latin America
Dynamic Balanced Scorecard (DBSC) is an effective business performance management control tool for dealing with business uncertainty, performance monitoring, evaluation and forecasting. DBSC has been proposed and utilized extensively over the years as an effective tool to manage and control the dynamics of business processes (BP) and their performance. However, there is little evidence of its application in knowledge intensive (KI) organizations and how they can develop and enhance key aspects of their business processes, such as product service systems innovation, and sustainability, for example. Moreover, the literature does not mention nor does it provide a vision or a DBSC model in cases where business process management (BPM) linked to knowledge creation and organizational transformation initiatives, are factored in the DBSC model. Hence this article explores this vein and aims to demonstrate the advantages of DBSC in this type of scenarios, with stark contrast of failed organizations of the past, particularly in small and medium size enterprises (SME) Most of the private sector in developing countries like Chile is comprised of SMEs, which thrive and seek to grow sustainably adhering to a global economic trend. The DBSC model being shown here illustrates SMEs strategy, which reveals how intrinsic characteristics of knowledge intensive organizations can foster sustainability and innovation in BPM.