THE BALANCED SCORECARD IN MANAGEMENT OF ORGANIZATIONS OF THE PUBLIC SECTOR: THE CASE OF UNIVERSIDADE CENTROCCIDENTAL LISANDRO ALVARADO

Abstract

This article is centered on the study of the Balanced Scorecard (BSC) - or “El Cuadro de Mando Integral†(CMI) in Spanish-as a management model in the public sector organizations, especially those that render services as public universities. The critical analysis departs from an institutional perspective and the stakeholder theory to try to understand how and why these organizations adopt managerial practices of the entrepreneurial sector, and to determine possible conditions of success within their limitations and restrictions. Finally, we present the case of a Venezuelan university that, at the present moment, has been applying the managerial model as a response to the process of reforms and changes, in which it is immersed. Keywords: Balanced Scorecard. Institutional Theory. Stakeholders Theory.