Balanced scorecard for evaluating operating expenses and its role in managing enterprise economic security

Abstract

The issue of effective management of financial results of an enterprise becomes particularly relevant in conditions of market uncertainty, growing competition, and the need to ensure its economic security. The purpose of the article is to substantiate the theoretical foundations and practical approaches to the formation of a balanced scorecard (BSC) based on financial criteria for assessing operating costs and determining its role in managing the economic security of an enterprise. Methods. In the course of the study, methods of analysis, synthesis, comparison, systematic approach, and generalization were used to study scientific approaches to the interpretation of a balanced scorecard and to determine the place of operating expenses in the structure of an enterprise's economic security. The empirical basis was statistical data on the dynamics of enterprises' operating expenses. Results. The article systematizes the composition and structure of operating expenses in the context of managing the economic security of an enterprise and determines their role as a key factor in the financial stability and competitiveness of a business. A balanced scorecard based on financial criteria (material intensity, labor intensity, depreciation capacity, gross return on expenses, total return on expenses, efficiency of administrative and marketing expenses management, level of economic security) has been developed. An analysis of the dynamics of operating expenses and their return was carried out, which made it possible to identify internal imbalances in the use of resources and justify the need to implement strategic control through BSC. Conclusions. It has been determined that the implementation of a balanced scorecard based on financial criteria provides a comprehensive assessment of the effectiveness of operational activities, increases the transparency of cost management, and contributes to strengthening the economic security of the enterprise. BSC is an effective tool for integrating strategic and operational goals, allowing for timely response to risks, optimization of costs, and ensuring financial stability of the business. Keywords: balanced scorecard, operating costs, economic security, financial criteria, management efficiency, strategic control.