Effectiveness of Balanced Scorecard in Modern Economy

Abstract

Performance indicators are linked in this balanced scorecard study report. The purpose of this research paper is to determine the effectiveness of the balancing scorecard in the modern economy. The researcher explains how performance measurements are linked via the balance scorecard. What you receive is what you measure. Senior executives are aware that their company's measurement system has a big influence on the behavior of managers and employees. Additionally, executives understand that traditional financial accounting measures, such earnings per share and return on investment, may provide erroneous signals for continued innovation and growth, which are essential in the present competitive environment. Although the traditional financial performance measures worked well throughout the industrial era, they no longer reflect the competencies and capabilities that companies are now seeking to develop.