An Ontological Model to Support the Implementation of Balanced Scorecard in the Organizations

The Electric Power Industry is changing rapidly. Utilities on deregulated markets are forced to focus on increased customer service on a very competitive market. In order to become successful the power companies have to utilize all their resources. One of such resource is the huge amount of information in different computer systems. This information can be refined and combined to show patterns and support decision-making that could be used to provide better service to the customers, gain market shares and increase profit. But most of the time this information is hard to find. It has also been suggested that performance measurement and strategic management should focus on the value creation process. In recent years, the balanced scorecard (BSC) has evolved to become a dominant strategic management mechanism and has been widely adopted in business sectors. However, a gap between business models and the BSC still hinders the usefulness and effectiveness of applying the BSC to the business domain. This paper aims at providing an ontological approach for linking the BSC to business models through ontological models. This approach allows us to provide the foundations for a semantic integration architecture.