Application of the balanced scorecard (BSC) model in performance management of nonprofit organizations: the case of UNICEF

Sanja Dobričanin; Andjelka Pindović; Aleksandar Perović; Stefan Grujić

doi:10.71159/bizinfo260019D

Authors

Sanja Dobričanin University of Pristina in Kosovska Mitrovica, Faculty of Economics, Serbia
Andjelka Pindović University of Pristina in Kosovska Mitrovica, Faculty of Economics, Serbia
Aleksandar Perović Independent researcher
Stefan Grujić University of Pristina in Kosovska Mitrovica, Faculty of Economics, Serbia

DOI:

https://doi.org/10.71159/bizinfo260019D

Keywords:

Balanced Scorecard (BSC), performance measurement, nonprofit organizations, performance management, UNICEF

Abstract

Nonprofit organizations are increasingly striving to improve their performance measurement systems to ensure more efficient resource management and successful achievement of their social objectives. In this context, the Balanced Scorecard (BSC) represents a significant instrument that enables integrated monitoring of organizational performance through financial and non-financial indicators. The aim of this paper is to examine the application of the BSC concept in the performance management of nonprofit organizations, with particular reference to UNICEF. The research focuses on relationships between key dimensions of the performance measurement system, such as performance awareness, the use and relevance of indicators, understanding of the strategy, employee involvement, and monitoring mechanisms. The empirical study was conducted using the survey method, while data analysis included descriptive statistics, Pearson correlation analysis, and multiple regression analysis. The results indicate statistically significant relationships among most analyzed variables, with the use of performance indicators, the relevance of indicators, and understanding of the strategy showing a significant impact on the effectiveness of the monitoring system. The findings indicate the importance of implementing integrated performance measurement systems in the nonprofit sector and contribute to a better understanding of the application of the BSC concept in organizations operating in the field of social development.

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