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Article

A Study on Balanced Scorecard and Its Impact on Sustainable Development of Renewable Energy Organizations; A Mediating Role of Political and Regulatory Institutions

1
Faculty of Management Sciences, Superior University, Lahore 54000, Pakistan
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Instituto Universitário de Lisboa (ISCTE-IUL), Business Research Unit (BRU-IUL),1649-026 Lisboa, Portugal
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ISCAL-Instituto Superior de Contabilidade e Administração de Lisboa, Instituto Politécnico de Lisboa, Avenida Miguel Bombarda 20, 1069-035 Lisboa, Portugal
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Business Research Unit (BRU-IUL), Lisbon University Institute (ISCTE-IUL), 1649-026 Lisbon, Portugal
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Polytechnic Institute of Santarém, School of Management and Technology (ESGTS-IPS), 2001-904 Santarém, Portugal
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Faculty of Business Administration, Iqra University, Karachi 75500, Pakistan
*
Authors to whom correspondence should be addressed.
Academic Editor: Wing-Keung Wong
Received: 19 April 2021 / Revised: 18 May 2021 / Accepted: 27 May 2021 / Published: 4 June 2021
Organizational strategic programs are continuously evolving and gaining the attention of policy makers in order to construct organizations’ ecological and socioeconomic systems. The purpose of this study is to examine the relationship between the balanced scorecard (BSC) and sustainable development involving the mediated effect of political and regulatory influence. To achieve the core objectives of the research, the quantitative (positivism) research method is applied. The goal of the current research is made possible through the quantitative method because of its objective nature of reality. A total of 320 questionnaires were distributed among the different levels of managers; 280 respondents returned the questionnaire. The data are analyzed through a modern statistical tool called Smart-PLS, Partial Least Squares (PLS) is high graphical user interference software that is used to calculate Structural Equation Modeling (SEM) through PLS path modeling. Factor analysis is conducted to eliminate the variables that have no contribution and to reduce the variables to obtain better results in regression. The implications are for energy organizations that are struggling to deal with sustainable development and these tools can help them to achieve their sustainability goals. The study concludes that the adoption of BSC is essential to ensure sustainable development regardless of its challenges. Moreover, consideration of meta-constitutional rules as political influence is important to understand and address in order to mitigate financial loss. In nutshell, the use of BSC is highly recommended to eliminate the routine problems and to ensure environmental sustainability. View Full-Text
Keywords: balanced scorecard; political and regulatory influence; sustainable development and environmental sustainability balanced scorecard; political and regulatory influence; sustainable development and environmental sustainability
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MDPI and ACS Style

Rafiq, M.; Maqbool, S.; Martins, J.M.; Mata, M.N.; Dantas, R.M.; Naz, S.; Correia, A.B. A Study on Balanced Scorecard and Its Impact on Sustainable Development of Renewable Energy Organizations; A Mediating Role of Political and Regulatory Institutions. Risks 2021, 9, 110. https://0-doi-org.brum.beds.ac.uk/10.3390/risks9060110

AMA Style

Rafiq M, Maqbool S, Martins JM, Mata MN, Dantas RM, Naz S, Correia AB. A Study on Balanced Scorecard and Its Impact on Sustainable Development of Renewable Energy Organizations; A Mediating Role of Political and Regulatory Institutions. Risks. 2021; 9(6):110. https://0-doi-org.brum.beds.ac.uk/10.3390/risks9060110

Chicago/Turabian Style

Rafiq, Muhammad, Saif Maqbool, José M. Martins, Mário N. Mata, Rui M. Dantas, Shumaila Naz, and Anabela B. Correia. 2021. "A Study on Balanced Scorecard and Its Impact on Sustainable Development of Renewable Energy Organizations; A Mediating Role of Political and Regulatory Institutions" Risks 9, no. 6: 110. https://0-doi-org.brum.beds.ac.uk/10.3390/risks9060110

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