| The organizational strategic programs are continuously evolving and getting attention of policymakers to construct organizations' ecological and socioeconomic responsibilities.It is pivotal to investigate the emerging issues of strategic management system that contributes significantly to environmental sustainability.The adoption of Balanced Scorecard(BSC)is rising consequently to foster ecological responsibilities.The researchers measured the consequences of adopting BSC as a Strategic Management System(SMS)tool that leads to sustainable development.The effects vary from highly evident to slight indirect or no effect.Few researchers claim that sustainable developed can be leveraged through proper implementation of BSC by developing an efficient strategic plan.The purpose of this study is to examine the relationship between balanced scorecard as SMS tool(independent variable)and sustainable development(dependent variable)involving the mediated effects of political and regulatory influence.To achieve the core objectives of the research,the quantitative(positivism)research method is applied.The goal of the current research is possible through the quantitative method because of its objective nature of reality which is to examine the Strategic Management System as a trigger to sustainable development for Chinese power corporations operating in Pakistan.Additionally,the generalization purpose can only be satisfied through a quantitative approach hence,it justifies the selection of the approach.Descriptive,intervention and associational studies are types of quantitative research.The rationale of using quantitative method is underpinned in examining the relationship between variables-a key concern of this study.A total 320 questionnaires were distributed among the different levels of management.A total of 280 respondents returned the questionnaire.The incomplete questionnaires were eliminated from the study.It was made sure that respondents are well known about the concepts of the instrument either working directly on the same nature of the system or have the capacity to understand and implement the said instrument.The data is collected from two Chinese power corporations working in Pakistan as case study.The data is analyzed through a modern statistical tool called Smart-PLS.Descriptive and inferential statistical analysis were performed to get desired results.Factor analysis conducted to eliminate the variable that have no contribution and to reduce the variables to get better results in regression.Additionally,to check out the reliability and validity of data,discriminant validity test was performed and checked the Cronbach Alpha.Regression analysis was done to know the variation of dependent variable due to independent variable.The data from the research is worthy due to its various aspects for researchers and policjymakers.To bridge the gap,the current research significantly contributes to the literature of BSC,political and regulatory risk evaluation,and sustainable development.It is pivotal to narrate that literature of BSC in the current setting is under dearth,especially concerning to the power sector.So,the current study is enriched with literature to support the phenomenon in the contextual setting of developing countries exclusively in the context of Pakistan.The implications of the research are multifaceted for managers,HR professionals,and top stratum of manufacturing firms generally and for energy organizations specifically.The situation analysis like SWOT and Porter's five force models recommends that Pakistan has greater opportunity because the market is untapped and has huge potential to grab the new customers.Porter's five force model suggests that the rivalry among the industry is low that motivate new companies to come and the encourages current companies to work with more zeal.It suggests that top management should use balanced scorecard as a strategic management system due to its relationship with sustainable development.The energy organizations are struggling to deal with sustainable development and these tools can help them to achieve their sustainability goals.The study concludes that adoption of BSC as a strategic management system tool is essential to ensure sustainable development regardless of its challenges.It is a helpful tool especially for power organizations as they need more sophisticated efforts to meet the environmental challenges.Moreover,consideration of meta-constitutional rules as political influence is important to understand and address to mitigate the financial loss.In nutshell,the use of BSC as SMS' tool is highly recommended to eliminate the routine problems and to ensure the environmental sustainability. |
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