Balanced Score Card Demystified: A Tool to Evaluate Performance or to Strategize Growth

Abstract

Given the dynamic nature and increasing uncertainty of the economic environment, a rapid change has been witnessed in their performance measurement systems. One of the most widespread tool used for performance measurement is the Balanced Score Card, hence, the main objective of this paper is to: (1) demystify the Balanced Score Card, (2) analyze its usefulness as a tool of performance measurement, (3) explore its benefits in strategizing growth, and (4) also find out its limitations if any. The aim is to debate whether the Balanced Score Card can be used as a holistic solution for measuring performance and strategizing growth.