Sustainability is increasingly recognized as a strategic theme for organizations and industries. Despite the potential and real contributions of the BSC for strategy implementation, the issue of sustainability needs to be better explored within the modern concepts of performance assessment systems, in line with. Moreover, it is a helpful tool to increase internal and external communications and to look after sustainable development.
Businesses, industry, government institutions, non-profit organizations, among others, use the BSC as a cohesive strategic planning system for performance measurement and aligning organizational actions to translate vision and mission into goals and targets. The four original perspectives of the model are: financial (mainly in the interests of shareholders, creditors and the State interests are mainly of financial) customer (identifies the customer segments and markets in which the organization will compete and the attributes valued to achieve the desired financial performance) internal processes (identifies the processes at which you must excel to create value) and, learning and growth (building the fundamental competences for the organization to compete and create value in the future). The BSC is a model that assists to translate strategy into operational objectives that guide behavior and performance, allowing for the identification of good management practices and guiding the management of organizational change in a continuous improvement process. Nowadays, it is also recognized as part of MACS that supports the strategy implementation and facilitates their translation into goals and targets. The BSC was initially presented as a performance measurement system with a preeminent role in the strategy implementation, later evolving to a strategic management system.
In this context, models and tools such as the Balanced Scorecard (BSC) have been adopted by most organizations to strategically manage their performance. The international literature widely recognizes that the management accounting and control system (MACS) is the main mechanism responsible for strategic implementation. It is therefore necessary to create and improve the instruments and mechanisms that allow the strategy to be implemented and communicated correctly. Many organizations fail to implement their strategies, mainly due to the difficulty in translating the strategy into operational terms. The results also offer an opportunity for competitive benchmarking for companies, industries and governments that operate in similar situations. The new perspective represents the competitive challenge of environmental sustainability and enhancement of endogenous resources for the Alentejo Wine Industry, as well as for other wine regions that share the same challenges and concerns. The results suggest that environmental sustainability (in viticulture) should be considered as a new strategic perspective to be included in the BSC, with a focus on future certification of environmentally sustainable production (grapes, wine, and wineries). A principal component analysis and a set of statistical analyses were performed to support the identification of perspectives to be considered in this industrial BSC. The content analysis technique, supported by the NVivo software, was used to treat and analyze the data obtained from the interviews, to discover the explicit meanings of the interviewees’ speeches. The research was performed according to the exploratory sequential design method, which combines in vivo (interviews and questionnaires) and in vitro (literature review and secondary data) research. This paper presents evidence that justifies and validates the inclusion of a new perspective: ‘environmental sustainability in viticulture’in a BSC that has been developed for the Wine Industry of the Alentejo Region (Portugal) for 2021–2030. Other dimensions of analysis can be carried out and other perspectives can be considered in each BSC, depending on the specific characteristics of each organization or industry. The traditional four-perspective Balanced Scorecard (BSC) model is suitable for a wide variety of organizations.
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