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A Critique of the Balanced Scorecard as a Performance Measurement Tool

A Critique of the Balanced Scorecard as a Performance Measurement Tool
Order Description
Main Subject area: Strategic Management Accounting.
Main requirement: The balanced scorecard (BSC) is amongst the most used strategy tools in practice. Especially in the United States its adoption rate has been high – the majority of Fortune 1000 companies have at some point of time implemented it. Its main strength is its departure from financial performance measures alone. Instead it offers a multidimensional performance measurement system that includes financial, customer-based, internal process, and learning and growth related measures. As such, compared to mainly financially oriented performance, measures it is has been a good step forward.
However, there are several reasons, or rather limitations, why the BSC is not as good as it may seem. Or, putting it more strongly, due to these limitations, firms may want to abandon the BSC altogether and look for alternatives.
You are requested to provide a comprehensive and solid critique of the BSC, its usage, application, benefits and limitations offering an alternative to it at the end of the critique. Do please use the attached articles and any other ones which deem relevant and recent.

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