HIGHLIGHTS OF THE EVOLUTION OF THE “BALANCED SCORECARD” IDEA AS A MODEL FOR MANAGING STRATEGY DEVELOPMENT AND CONTROL

Venelin Terziev¹ and Marin Georgiev^2
1Professor, Eng., D.Sc. (Economics), D.Sc. (National security), Ph.D., Vasil Levski National Military University – Veliko Tarnovo, Bulgaria, University of Rousse – Rousse, Bulgaria
²Ph.D. student, Vasil Levski National Military University – Veliko Tarnovo, Bulgaria

Abstract
This article explores the development of the ‘‘balanced scorecard’’ idea in various conditions. Observing the process of perfecting the idea provides information about the way this concept adapts both to specific organizational needs and industrial specificities. Exactly for this reason, as a focal point of the article could be identified the functional development of the balanced scorecard and its transformation from a model of analysis and assessment to one which could be applied to expressed organization and corporate strategies. Our objective predetermines the inclusion of mainly analytical methods in the methodology preferred in this study.

Keywords: Balanced scorecard (BSC), model, strategy, concept, perspective, Stakeholder theory