## 2 Literature Review
### Balanced Scorecard Perspectives
Supported by the literature reviewed above, the following research hypotheses are presented:  
**H1a:**_The importance assigned to the financial perspective differs in organizations without BSC and with BSC._  
**H1b:**_The critical success factors of the financial perspective differs in organizations without BSC and with BSC._  
The customer perspective, on the other hand, is characterized by the concern with market segmentation, since the indicators of this perspective aim to measure the creation of value for the customer. This perspective seeks to analyse the degree of customer satisfaction and, to this end, aims to measure compliance with delivery deadlines, the level of product quality (goods or services), as well as customer satisfaction with the agreed price. The main objective lies in the creation of value, in order to satisfy and build customer loyalty. Customer satisfaction will lead to a higher level of customer retention and allow for improved market research. As a result, this value creation will generate confidence in shareholders to continue investing, to generate better financial returns for the organisation [35]. This perspective comprises a sequential analysis that enables one to check whether the path to be followed complies with the defined interests [81]. It is extremely important to define who is being served, i.e., to focus attention on the market segment it intends to serve, so that the organisation can adapt to the specific needs of customers. Therefore, organisations should segment the market by defining the target market according to customers' needs and the range of products available to them. And, whenever possible, organisations should exceed customer expectations, distinguishing themselves from the competition. The four characteristics most valued by customers are: quality, delivery time, performance/service and cost. These behaviours will naturally be reflected in the financial perspective [33]. Thus, Table 2 presents some performance indicators and critical factors of this perspective, according to [45; 78]. Regarding the customers' perspective and supported by the arguments postulated above in the literature reviewed, the following research hypotheses are put forward:  
**H2a:**_The importance assigned to the customer perspective differs in organisations without BSC and with BSC._  
**H2b:**_The critical success factors of the customer perspective differs in organisations without BSC and with BSC._  
With regard to the internal perspective, it aims to identify and analyse the critical processes for value creation regarding productivity and efficiency, based on both the short term and the long term [81]. The definition of the strategy of this internal perspective represents one of the most important definitions, as it will influence the entire internal functioning of the organisation. Consequently, the internal procedures that are measured through this perspective are aimed at creating value on the part of the customer, namely customer satisfaction and the consequent customer retention and progression of market share [35; 82]. \begin{table}
\begin{tabular}{c c} \hline \hline \multicolumn{2}{c}{**Financial Perspective (Annex 1, 2.1)**} \\ \hline Growth & \\ \hline \multirow{3}{*}{New products to attract new customers, new markets and the possibility of developing current ones.} & ROI—Return on capital invested \\ \cline{2-3}  & RO—Return on Sales \\ \cline{2-3}  & RCP—Return on equity \\ \cline{2-3}  & EPS—Earnings per share \\ \hline \end{tabular} Source: adapted from [PERSON] et al. (2015, p. 284) [45; 78]  
\end{table} 
Table 1: _Cont._According to the internal perspective, managers pay special attention to organisational processes that they consider critical, because they want the conditions of the processes to be in accordance with what the customer demands. The innovation process, the operational process, as well as the after-sales process, are critical, as customer captivation and loyalty depend on them.