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What is Plan-Do-Check Act (PDCA)

Management Accounting Standards for Sustainable Business Practices
Iterative approach used to continuously improve processes, products or services and to solve problems in four stages. It also requires systematic testing of possible solutions, evaluation of results, and implementation of functional ones.
Published in Chapter:
Management Accounting: The Sustainable Strategy Map and Its Associated Sustainability Balanced Scorecard
Gary Cokins (Analytics-Based Performance Management LLC, USA) and Sorinel Căpușneanu (Titu Maiorescu University, Romania)
Copyright: © 2020 |Pages: 26
DOI: 10.4018/978-1-7998-0178-8.ch001
Abstract
This chapter illustrates some aspects of sustainability balanced scorecard and its implementation within an economic entity in the aluminum industry. The main objectives of this chapter are to present balanced scorecard and integrate the fifth pillar into sustainability balanced scorecard, including some of its considerations and challenges. The authors identify the causes of SBSC appearance and its conceptual-evolving treatments, some considerations stemming from the practical experience of specialists, but also some current and future challenges. The focus is on the implementation of the SBSC within an economic entity in the aluminum industry by presenting an original case study. It highlights the steps taken in designing and presenting the SBSC, including the architecture of the strategic sustainability map used to translate the strategic objectives of the entity and the performance indicators. Through the authors' contribution, a new conceptual-empirical framework is created to consider debate and aspects of sustainability encountered in the business environment around the world.
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