Actual problems of innovative economy and law

Journal "Actual problems of innovative economy and law" is included in category B for specialties: in the field of knowledge "Management and administration": 073, 076 (order of the Ministry of Education and Science of Ukraine dated 23.08.2023 No. 1035) and 071, 072, 075 (order of the Ministry of Education and Science of Ukraine dated 12.20.2023 No. 1543); in the field of knowledge "Social and behavioral sciences" 051 (order of the Ministry of Education and Science of Ukraine dated August 23, 2023 No. 1035); in the field of knowledge "Law" - 081 and "Public management and administration" - 281 (order of the Ministry of Education and Science of Ukraine dated 12.20.2023 No. 1543).
Registration of an entity in print media: Decision of the National Council of Ukraine on Television and Radio Broadcasting No. 1390 dated 11/16/2023. Media identifier: R30-02018
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Using a balanced score system to integrate safety into agricultural business management

# 19 101-105 Download/view the full text of the article

УДК: 631.1:005.57:004.9

DOI: https://doi.org/10.36887/2524-0455-2024-4-19

Bohdaniuk Ihor,
PhD in Law, Senior Researcher, Deputy Director for Organizational and Scientific Work and Technology Transfer,
Livestock Farming National Academy of Agrarian Sciences of Ukraine,
https://orcid.org/0000-0003-4782-9986

The article examines the application of the Balanced Scorecard (BSC) as a tool for integrating security into agribusiness management. The authors analyze the contemporary challenges agribusinesses face, including economic instability, climate change, increasing demands for environmental sustainability, and the intensification of cyber threats. It is emphasized that traditional management approaches are insufficient to address risks and ensure comprehensive security. The BSC is proposed as a universal strategic management tool that integrates financial, environmental, informational, and social dimensions. The study outlines adapting the standard BSC structure to the specific needs of agribusiness, highlighting the importance of incorporating security considerations. Key steps for integrating the BSC into agribusiness management are presented, including formulating security indicators, monitoring and analyzing these metrics, and leveraging results for strategic and operational decision-making. Examples include financial security through monitoring profitability and liquidity, ecological security through the implementation of eco-friendly technologies, informational security via robust data protection measures, and social security through fostering safe working conditions and supporting community development. The paper emphasizes the advantages of implementing the BSC in agribusiness, such as fostering a comprehensive approach to management, enhancing transparency, and increasing overall resilience to internal and external threats. The integration of the BSC enables businesses to harmonize strategic goals with security requirements, thereby improving their competitiveness and long-term sustainability. The authors conclude by recommending the active adoption of innovative solutions to optimize the benefits of the BSC for agribusiness management in a dynamic and complex global environment.

Keywords: balanced scorecard, agribusiness, security, management, resilience, sustainability, innovations.

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The article was received 15.05.2024

Quote article, APA style

Bohdaniuk I. 15.05.2024. Using a balanced score system to integrate safety into agricultural business management. Actual problems of innovative economy and law. 2024. №4. 101-105 pp. https://doi.org/10.36887/2524-0455-2024-4-19

Quote article, MLA style

Bohdaniuk I. Using a balanced score system to integrate safety into agricultural business management. Actual problems of innovative economy and law. 15.05.2024. https://doi.org/10.36887/2524-0455-2024-4-19