Purpose -This paper aims to review and analyze the validity and relevance of the conceptualization of the Balanced Scorecard (BSC) model, especially within an African context. The BSC model was developed to address the problems and limitations of relying solely on traditional financial measures. This paper carries out a critical review and detailed analysis on perspectives surrounding the BSC model. Design/methodology/approach -The paper critically reviews relevant literature on the BSC model by focusing on the pertinent issues surrounding the applicability of the BSC model in modern business environment. A critical review of conceptualization issues regarding the BSC model especially with a focus toward its application within an African framework was also done. Findings -It is established that the BSC model plays a pivotal role in assisting business executives in making holistic long-term management decisions. However, the model puts undue emphasis on shareholders' wealth maximization at the sacrifice of other equally important stakeholders. The model puts less emphasis or completely ignores such stakeholders as competitors, suppliers, lenders, government, the local community and the natural environment. The model is fraught with many conceptualization assumptions that are not realistic in the modern environment. Practical implications -It is envisaged that the study should add to the literature on corporate performance measures and the BSC model. The revelations gained through this paper will enable researchers to have an open mind on the way the BSC model is supposed to be modified and applied for various business environments. Originality/value -The revelations of the paper point out application limitations of the BSC model, there is an imperative need to upgrade and redesign the BSC model to reflect realities of modern business activities, especially within an African context.
Within an African setting, the Ubuntu philosophy embodies a socio-cultural framework that applies to all individuals and institutions throughout the continent. The Ubuntu application is pervasive in almost all parts of the African continent. Hence, the Ubuntu philosophy is integrated into all aspects of day-to-day life throughout Africa and is a concept shared by all tribes in South, Central, West, and East Africa amongst people of Bantu origin. This paper presents a desk research that aims at reviewing and analysing literature on corporate lessons that can be realised from the African Ubuntu philosophy. The paper reviews the background and significance of the Ubuntu philosophy including successful cases of Africanising management systems. Finally the paper reviews major contributions that the Ubuntu philosophy can make towards global management systems. The literature reveals that there are a lot of corporate strategy lessons that can be realised out of the Ubuntu philosophy. These lessons include collectivism and teamwork, creation of synergies and competitive advantages, humanist leadership styles and maturity, consensus in decision-making systems, effective communication, and community-based corporate social responsibility. Therefore, there is a need for corporate strategy and management systems to be realigned with the local Ubuntu philosophy that defines the Africa's socio-cultural framework. To be successful, Africa-based organisations must be found on this Ubuntu philosophy.
It is common knowledge that an organisation cannot operate in isolation without the critical roles that various stakeholders play in influencing organisational operations and ultimate corporate performance. Thus, stakeholders that are interdependent have to be rewarded based on their respective efforts in promoting and creating organisational wealth in different capacities. This study aimed at ascertaining the extent of corporate conscience phenomenon as on how body corporates in Malawi tackle and distribute wealth to their different stakeholders who are actively involved in the creation of such an organisational wealth. The study findings reveal that most business executives in Malawi recognise that being a body corporate with a conscience is a recipe for success of their current and future operations and the ultimate sustainable corporate performance. It is anticipated that the study results will improve the perception of business executives towards corporate conscience as well as transform the approaches in academic and business research programmes.
Lately, there have been various discussions about the values of the African Ubuntu philosophy in many aspects as it relates to issues of human relationships, business ethics and corporate governance. As a governing philosophy, the Ubuntu is inclusive in nature as it considers all members of the community (organisation) as one entity aiming at achieving one purpose. There have been assertions that the ultimate success of any organisation operating in an African environment is premised on this Ubuntu framework. This study aimed at establishing corporate governance approach as practiced by organisations within an African context. Thus, this paper analyses and reports on research findings pertaining to issues of general business ethics and corporate governance approaches within an African context. The study results show that Africa's socio-cultural framework that is premised on the Ubuntu philosophy resonates with general principles surrounding business ethics and corporate governance. Central to the findings is the revelation that Africa's socio-cultural framework has a direct impact on business ethics, corporate governance approaches and overall corporate performance of organisations operating in Africa. It is expected that the study findings will influence organisations in Africa to adhere strictly to the provisions and recommendations of the new King III report on good corporate governance.
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