ABSTRACT
The goal of this article is presenting the author's conception of the balanced scorecard as a comprehensive tool supported the process of strategic (crisis) management of commercial bank in terms of the economic (supply and demand) shock caused by a COVID-19 pandemic, the effect of which is a liquidity collapse of the real sphere of the economy (involved enterprises and households), and consequently – spectre of the recession (mitigated by financial support of the state, dedicated to the firms and their employees within the government assistance programmes). This article – in the context of its goal – verifies the research hypothesis assumed that the balanced scorecard, despite its criticism in the scientific literature taking into account the views on its usefulness in the strategic management and the occurrence of the alternative tools in this area, is the helpful instrument of the strategic bank control in the age of the COVID-19 pandemic. Critical analysis of the balanced scorecard showed that correctly adjusted to the requirements of bank, under new conditions of the COVID-19 epidemic threat, it can find a use for implementation, realization and measurement of banking strategy. The article presents the impact of pandemic crisis on the financial condition of the commercial banks as well as strategic planning practices in these banks before and during the COVID-19 epidemic. The genesis, essence and structure of one of the strategic management methods in the form of the balanced scorecard were also discussed. There were shown its usefulness in this area of the bank's functioning against the background of the alternative strategic management models, having regard to its critical literature analysis. The article is crowned with posited model of the balanced scorecard for the commercial bank, completed with the strategy map, that poses its graphic visualization, taking into account the effects of the global economic crisis, induced by the COVID-19 epidemic. The appropriateness of the choice of the proposed tool of the bank strategic management in the era of pandemic crisis was confirmed by the discussion and conclusions on its usefulness in the current economic reality. © 2022 Narodowy Bank Polski. All rights reserved.