Assignment on Balance Scorecard
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Assignment on Balance Scorecard


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LO1) Demonstrate knowledge of recent developments in management accounting and its relevance and implications for control and decision making requirements.

LO2) Demonstrate a critical awareness of the development of management accounting control systems, using key numerical interpretation skills in areas of change.

LO3) Diagnose, evaluate and formulate appropriate solutions to problems, using problem solving skills around critical areas such as multiple constraints and how these can be resolved through linear programming and shadow pricing solutions



The Balanced Scorecard (BSC) system may be described as a strategic planning and management system which provides that there is no single measure available which can provide an idea of the health of an organization (Drury, 2009). This system provides that instead of using a single measure, a composite scorecard should be used. There are four perspectives provided under balanced scorecard system which relates to financial, customer, internal and learning and growth (Otley, 2007) each of which should be given due consideration to measure the health of an organization.

The present report evaluates the effectiveness of balanced scorecard and its usage as a part of its modern strategic management technique. This concept had its origin in early 1990's. The status of this system since early times of 1990's till date has been presented in the report. This concept has broadened its scope over the period of time as in early times it focused upon consideration of non-financial measures also along with the financial measures for the performance evaluation. Now it is considered as one of the strategic management techniques. The linkage of the financial and non-financial perspectives of balanced scorecard with the organizational strategies has been described. The system is not free from weaknesses which are also part of this report along with the measures to be adopted for the removal of weaknesses.


Evolution of the system

The system of Balanced Scorecard was developed by Norton and Kaplan in the early 1990s which has gone through the continuous transformation process (Drury, 2009) as described below:

1. 1992 – A system of performance measurement 

The system of Balanced Scorecard was introduced by Kaplan and Norton in 1992. Initially, it was introduced as a system which laid emphasis upon non-financial measures along with financial perspectives for evaluation of performance of an organization (Kaplan & Norton, 1992). 

2. 1993 – Link between performance measures and strategy

In 1993, they linked various performance measures with the strategy of the organization (Kaplan & Norton, 1993).

3. 1996 – A system of performance management 

In 1996, the system of Balanced Scorecard was described as a strategic performance management system which provides a framework for allocation of organizational resources, budgeting, setting objectives and employee learning (Kaplan & Norton, 1996).

4. 2000 – A system of strategic management and control

In 2000, Kaplan and Norton described Balanced Scorecard as a strategic system which is not only helpful in planning function and management of performances but also helpful in controlling function (Kaplan & Norton, 2000).

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