The Feasibility of Using the Balanced Scorecard (BSC) in Libyan Commercial Banks

Abstract

This study aims to evaluate the feasibility of implementing the Balanced Scorecard (BSC) as a performance measurement and evaluation tool in Libyan commercial banks. The research adopted an inductive approach to review relevant literature and an analytical approach for a field study that included questionnaires and interviews with accounting department managers in several Libyan banks. The results indicated the feasibility of using all four dimensions of the BSC (financial, customer, internal processes, learning and growth) in evaluating bank performance, with a greater emphasis on the internal processes dimension. No significant obstacles to implementation were identified. The study recommends the formal adoption of the BSC to enhance strategic performance, with a focus on the customer dimension to boost revenues and profits.