The Concept of Balanced Scorecard Indicators with the Competitive Factors of Entrepreneurs in Thailand
Keywords:
Balance Scorecard, Competitiveness, EntrepreneursAbstract
This academic paper focused on the concept of Balanced Scorecard (BSC) indicators with the competitive factors of entrepreneurs in Thailand. This article is a documentary research. Data were collected from secondary sources: research papers, academic papers, dissertation, and related documents. These data were then used to synthesize knowledge about the BSC concept of indicators which consisted of customer view, finance, internal processes, and in the field of learning and growth. This article presented 1) the metric concept of BSC entrepreneurs' competitiveness. It was discovered that the four factors, namely financial perspective, internal processes, learning, and growth, affecting the competitiveness of entrepreneurs in Thailand, 2) the implementation of the BSC indicators in the future was found to be relevant and widely applicable. For entrepreneurs in Thailand, they should be adapted to suit their abilities and the country's situation. This academic article is therefore a new contribution of knowledge for Thai academics in studying BSC and enterprises in Thailand, as well as to provide guidelines for entrepreneurs to apply the concept of balanced indicators to business development to gain competitive advantages.
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