Sustainability Balanced Scorecard for Wave Master Ltd.
This paper develops a Sustainability Balanced Scorecard (SBSC) for Wave Master Limited Company (WML), a skateboard manufacturer. It begins by evaluating three approaches for integrating sustainability into the traditional Balanced Scorecard (BSC) framework and selects the addition of a fifth perspective encompassing social and environmental dimensions. The paper then constructs a strategic map linking the company's sustainability objectives across financial, customer, internal process, learning and growth, and environmental/social perspectives. Key objectives include employee health and safety, natural resource efficiency, quality management, and public image. The paper justifies the chosen indicators, outlines action plans for each perspective, and discusses the potential positive and negative impacts of implementation on organizational performance, culture, and market position.
- Introduction: Purpose, scope, and limitations of the SBSC study
- SBSC Approaches: Three methods for integrating sustainability into BSC
- Strategic Map: WML strategic objectives mapped across perspectives
- Sustainable Balanced Scorecard: Fifth-perspective SBSC with action plans and targets
- Justification of Indicators: Rationale for chosen performance measurement indicators
- Eventual Impacts of the Indicators: Positive and negative implementation outcomes for WML
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What makes this paper effective
- The paper follows a coherent logical progression: it evaluates three SBSC approaches, selects and justifies one, builds a strategic map, then translates that map into a full scorecard with objectives, measures, targets, and initiatives.
- Each section connects back to the company-specific context of Wave Master Ltd., keeping the analysis applied rather than purely theoretical.
- The paper acknowledges its own limitations — such as reliance on non-financial lagging indicators and the use of only one SBSC approach — which adds academic credibility.
Key academic technique demonstrated
The paper demonstrates effective use of a framework-application structure: it introduces the theoretical framework (BSC and its three sustainability integration approaches), selects the most appropriate variant for the case, and systematically applies it. This technique — evaluate options, justify selection, apply rigorously — is a strong model for management and strategy assignments that require both conceptual understanding and practical recommendation.
Structure breakdown
The paper opens with an abstract-style overview followed by a formal introduction that situates the task and flags limitations. The discussion section is divided into four analytical subsections: SBSC approaches (theoretical grounding), strategic map (visual logic of objectives), the scorecard itself (tabular action plan), and indicator justification. A final analytical section addresses the real-world impacts of implementation. References follow APA format throughout.
Introduction
The balanced scorecard is a management tool that supports the successful execution of strategies initiated by a corporation. This report aims to assist Wave Master Limited Company (WML) with further analysis of sustainability. In particular, the report develops a strategic map for the company's objectives and thereafter creates a framework for a Sustainable Balanced Scorecard (SBSC). The strategic objectives are categorized in accordance with the perspectives of the proposed SBSC. The study also provides justification for why such strategic objectives were classified in that particular manner. In accordance with prior assignment work, it is assumed that the sustainability reports and analysis previously completed are appropriate and suitable for use in this study. In developing the SBSC, this study adopts the approach of adding a fifth perspective to the existing four perspectives of a traditional Balanced Scorecard (BSC). The fifth perspective encompasses environmental and social aspects. The findings of the study are intended to provide directions in which the company can adopt suggested practices in order to utilize sustainable methods in its business procedures with respect to production, and to ensure its accountability towards environmental safety.
The balanced scorecard is a management component that enables the successful execution of strategies initiated by a company. It has been considered comprehensively both in research and in practice. By connecting non-financial and operational company activities with fundamental links to the company's long-term strategy, the Balanced Scorecard supports the alignment and management of all business activities in line with their strategic significance (Figge et al., 2002). Theoretically, value-based sustainability management attempts to account for corporate contributions and influences on sustainability in an integrative manner. It postulates that for corporations to contribute to sustainable development, appropriate corporate performance advances must occur across all three dimensions of sustainability — social, economic, and environmental — in a synchronized manner (Figge et al., 2002).
This study aims to develop a Sustainability Balanced Scorecard (SBSC) for Wave Master Ltd. that will explicitly translate its strategy into a set of financial and non-financial measures covering a range of perspectives. The findings are intended to provide directions in which the company can adopt suggested practices to utilize sustainable methods in its business procedures with respect to production, and to ensure accountability towards environmental safety. The discussion demonstrates a strategic map with distinct focus on the company's sustainability with reference to the case study.
There are limitations with respect to the SBSC developed here. This study considers only one of the three approaches available for constructing an SBSC. The other approaches might shed a different light on the company's strategic map and the indicators to be used. However, all three approaches were analyzed and the one selected was deemed the most suitable. A further limitation is that the study relies predominantly on non-financial indicators. These are lagging measures and, while they offer considerable insight into previous periods, they provide minimal guidance for approaching future periods. It is assumed that the sustainability reports from prior studies are appropriate and have analyzed the company comprehensively.
References
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Figge, F., Hahn, T., Schaltegger, S., & Wagner, M. (2002). The sustainability balanced scorecard — linking sustainability management to business strategy. Business Strategy and the Environment, 11(5), 269–284.
Kaplan, R.S., & Norton, D.P. (1996). Linking the balanced scorecard to strategy. California Management Review, 39(1).
Mueller, T.S. (2014). Consumer perception of CSR: Modeling psychological motivators. Corporate Reputation Review, 17(3), 195–205.
Rausch, P., Sheta, A.F., & Ayesh, A. (2013). Business Intelligence and Performance Management: Theory, Systems and Industrial Applications. London: Springer-Verlag.
Shakil, S.H. (2014). Corporate Social Responsibility (CSR) — Environmental protection or creating disguise? Available at SSRN 2406968.
Social Accountability International. (2015). SA8000® Standard and Documents. Retrieved from
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