Research has shown that organisations that use a Balanced Scorecard approach tend to outperform organisations without a formal approach to strategic performance management. Better Strategic Planning I have done a BSC in all my roles and it has not been easy. In rapidly changing environments that characterize most industries today, organizations face intense competitive pressure to do things better, faster and cheaper. This article covers the Pros and Cons of the Balanced Scorecard, Advantages and Disadvantages of Balanced Scorecard. 7 Benefits of a Balanced Scorecard. Performance measurement is one of the core activities of management accounting, and the balanced scorecard is a proven management tool for this purpose. Concept of Balanced Score Card (BSC): The concept of Balanced Score Card (BSC) was introduced by Robert S. Kaplan and David P. Norton in 1992 through an article published in the Howard Business Review in 1992. However, I have been able to implement it and these learning come from my personal experience. 1.

The key benefits of using a BSC include: 1. It also strongly suggested the ability to BSC to incorporate the social and environmental issues, which can open the door for coming studies to consider such issue. The business environment of the new century has undergone rapid and accelerating But it also has some limitations and it doesn't work in some countries and in some businesses. Key words: Balanced Scorecard, performance management systems, social and environmental issues. The Balanced Score Card, popularized by Kaplan and Norton (1992, 1993, 1996a, 1996b, 1996c) and also accepted extensively across the globe, has been presented as a better and superior blend of financial and the non-financial measures of performance. Balanced Score Card: Concept, Advantages and Limitations! The Advantages of Balanced Scorecards in Management Accounting.

In conclusion, BSC has many benefits and it can help organizations become more competitive. Introduction advantages versus other performance systems.