What Are the Driving Forces Behind Implementing Balanced Scorecard

A balanced scorecard is a strategic management performance metric that helps companies identify and improve their internal operations to help their external outcomes. It measures past performance data and provides organizations with feedback on how to make better decisions in the future.

What are the two factors that influence the balanced scorecard framework?

Wiersman (2009) identifies some of the factors that motivate managers in western countries to adopt the BSC as an innovative management accounting techniques. These factors include: (1) The receptiveness to new form of information; (2) Other control systems; and (3) The evaluation styles.

What are four categories used when implementing the balanced scorecard?

Balanced scorecards use both financial and nonfinancial measures to evaluate employees. The four categories of a balanced scorecard are financial perspective, internal business perspective, customer perspective, and learning and growth perspective.