BALANCED SCORECARD PROPOSAL FOR A SMALL AND MEDIUM ENTERPRISE - “ALGARVE WATERSPORT”

Economic globalization, market growth, the Covid 19 crisis, and upcoming economic difficulties due to the War led companies to face concerns regarding their profitability. In order to be able to keep up with the strong competition and market volatility organizations and their management bodies need management control systems that can help them measure and manage their performance. In this regard, the Balanced Scorecard (BSC) is a framework that aligns a set of non-financial and financial indicators with the respective strategic objectives of the organization, allowing continuous monitoring and better decision-making. The BSC explains through cause-and-effect relationships how intangible assets can enhance tangible assets, facilitating the coordination and alignment of an organization’s strategy with its daily activities. This Master Final Work (MFW) develops a proposal for a Balanced Scorecard for a small and medium enterprise - Algarve Watersport - which struggles with control problems in its growth. The BSC proposal aims to improve the organization’s performance by increasing employee motivation by defining performance measures and goals and improving communication within the company.