The Balanced Scorecard - advantages and disadvantages

Seminar paper from the year 2006 in the subject Business economics - Controlling grade: 10 University of Northampton (University of Northampton) course: Management Accounting - Decision Making language: English abstract: ...The Balanced Scorecard (BSC) developed 1992 by Kaplan and Norton is a concept which measures a company's performance on the basis of traditional financial figures as well as non-financial measures. Therewith it provides managers with more relevant information than just with data about actions and decision of the past. (2gc ltd. 2003; Joyce&Woods 2001 Wheelen&Hunger 2002)It is built on four essential pillars - finance learning&growth customers and internal business processes - which all must be linked with the corporate vision and strategy to fathom the performance from different perspectives. ...