Balanced Scorecard Implementation Challenges

The assignment provided is a study guide on the Balanced Scorecard, a strategic management system that measures an organization's performance from four perspectives: financial, customer, internal processes, and learning and growth. The guide discusses the benefits of implementing a Balanced Scorecard, including increased creativity and unexpected ideas, alignment of key performance measures, improvement in operating performance, and improved financial performance. However, it also highlights limitations such as lack of data collection and reporting, too much internal focus, and lack of information and support from top management. The study guide concludes that effective communication is crucial for improving performance when implementing a Balanced Scorecard, and suggests that using non-financial measures can enhance the accuracy of earnings forecasts.

Evaluation of Balanced Scorecard
System and its implementation in
organisations

Abstract:
Aims
“To evaluate the impacts of using Balanced Scorecard (BSC) system in
the organisations and the implementation of BSC by the organisations including large companies
and small and medium enterprises (SME)”.
respondent there are many benefits of implementing the balance scorecards for their companies.
Balance scorecards which is designed for SME is included similar process with the steps which
are needed for the large organisation. Size is not the factor which decide that company should
adopted the balance scorecards or not. It benefits company through focusing on activities which
are really important for them.
In this study focus of researcher will be on moving from specific information to general.
Therefore inductive approach will be undertaken in this research. Interpretivism philosophy is
used. Qualitative technquie will be undertaken under which thematic analysis will be done for
presenting the findings
Findings
Respondent there are many benefits of implementing the balance scorecards for their
companies. Balance scorecards which is designed for SME is included similar process with the
steps which are needed for the large organisation. Size is not the factor which decide that
company should adopted the balance scorecards or not. It benefits company through focusing on
activities which are really important for them.

Contents
Table of Contents
CHAPTER 1: INTRODUCTION....................................................................................................1
1.1 Overview...............................................................................................................................1
1.4 Focus and Purpose.................................................................................................................1
1.5 Aims and objectives..............................................................................................................2
1.6 Research question..................................................................................................................3
1.3 Chapter structure...................................................................................................................3
1.7 Framework and analysis........................................................................................................4
1.8 Potential Significance............................................................................................................5
CHAPTER 2: LITERATURE REVIEW.........................................................................................6
2.1 Introduction...........................................................................................................................6
2.2 Limitations of Balanced Scorecard that the organisations would face in the application ...8
2.3 The positive and negative impact of implementation of Balanced Scorecard in SMEs and
large companies .......................................................................................................................10
CHAPTER 3: RESEARCH METHODOLOGY...........................................................................12
3.1 Introduction.........................................................................................................................12
3.2 Research design: ................................................................................................................12
3.3 Research approach:.............................................................................................................12
3.4 Sample:................................................................................................................................14
3.5 Data analysis............................................................................................................................14
4.1 Introduction.........................................................................................................................17
CHAPTER 5: DISCUSSION OF FINDINGS ..............................................................................40
5.1 Introduction.........................................................................................................................40
5.2 Discussion based on the findings of Small business enterprises in relation to literature
review........................................................................................................................................40
5.3 Discussion based on the findings of Large companies in relation to literature review.......41
CHAPTER 6: RECOMMENDATION AND CONCLUSION.....................................................43

6.1 Conclusion..........................................................................................................................43
6.2 Recommendations...............................................................................................................44
References......................................................................................................................................46

CHAPTER 1: INTRODUCTION
1.1 Overview
The balance scorecards is known as the management system as it is a way of looking an
organisation which focuses on strategic goals. Generally it is used for communicating whatever
they are trying to accomplish. Measuring and monitoring the progress toward the strategic
targets. In short balance scorecards enable the companies to set, track and accomplish its key
business strategies and objectives (Pollack and Ufimtseva, 2016). The management system view
the organisation from four different perspective and develop objectives. Financial measure is
important as it is relied by many companies for monitoring their performance. The main reason
for measuring the financial performance is that measure the performance of the company in the
past and predict how it can perform in the future. For measuring the effectiveness of the
company it is important measure return on capital employed which is mostly important for the
slow moving companies. However, there are some limitation for the such measures. It can help
in measuring the one aspect of the company and there is no link between its result and
performance. Therefore, through introducing the Balance scorecard system it becomes easy for
the firm to measure all the area of business as compare to other method such as financial
measure which focus on only single aspects.
The present dissertation is based on evaluating the impacts of using Balanced Scorecard
(BSC) system in the organisations and the implementation of BSC by the organisations including
large companies and small and medium enterprises. Therefore, it is important to understand the
importance of BSC and the way it can be implemented within the organisation. This will help
company in identifying the weak area where improvement is required.
1.4 Focus and Purpose
The present dissertation is based on evaluating the impacts of using Balanced Scorecard
(BSC) system in the organisations and the implementation of BSC by the organisations including
large companies and small and medium enterprises. Therefore, the main purpose of this research
to analyse the impact of BSC on the organisation and the way it assists in accomplishing the goal
and objective of the firm. Balance scorecards is one of the effective tool which is used for
measuring the performance of the companies in order to accomplish the goals and objectivities.
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A BSC is a structure way in order to test the hypotheses and interrelationships between action
and results, It is just not a tool for strategic formulation but it is description and interpretation of
the strategy which help in finding the link between action and their impacts. It helps manager of
the firm to focus on different that is internal business process, learning and growth. Financial and
customers. BSC is one of the effective tool and it is more than a collection of the financial and
non financial tools. It is used for communicating purpose, prioritising the product, services and
projects etc. There are many literature who suggested that use of BSC is not effective as much
for accomplishing the success and they think it has some limitation.
Therefore, the purpose of this study is to research the use of the balance scorecards and
analyse the way BSC lead to improve the strategic and performance within the organisation. This
investigation will help in developing a deep understanding related to the topic and provide
information related to defectiveness of implementing this strategy for accomplishing the strategic
goal
1.5 Aims and objectives
Aims
The broad aim is “To evaluate the impacts of using Balanced Scorecard (BSC) system in
the organisations and the implementation of BSC by the organisations including large companies
and small and medium enterprises (SME)”.
Objectives
The objectives of the study are as follows:
 To understand the importance of Balanced Scorecard (BSC) system.
 To identify any limitations of Balanced Scorecard that the organisations would face in
the application
 To evaluate the positive and negative impact of implementation of Balanced Scorecard
in SMEs and large companies
 To provide conclusion and recommendations on how organisations can be improved by
Balanced Scorecard.
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1.6 Research question
 What is the importance of development of Balanced Scorecard
 What are the limitations of Balanced Scorecard that the organisations would face in the
application
 What are the way of implementation of Balanced Scorecard in SMEs and large
companies.
1.3 Chapter structure
Scholar need to follow the sequential pattern at the time of undertaking the research
topic. This dissertation will be structure by following the series of chapter which can be
undertaken as the part of research. Chapters are as follows Chapter 1: Introduction – The chapter first provide detailed information related to the
selected topic. As it will consist of an overview which provide detailed information
related to the aim of the dissertation. The impact of using Balanced Scorecard (BSC)
system in the organisations will be explained in detail. Following these aims and
objectives and purpose of the research will be covered. At last of the introduction chapter
different research tools and techniques will be discussed with the importance of the
selected topic. Chapter 2: Literature Review – Literature review will cover the background and
the development of Balanced Scorecard. limitations of Balanced Scorecard that the
organisations would face in the application will be identified. Along with this the impact
of using Balanced Scorecard in the organisations will be analysed. This segment will lay
emphasis on covering the aims and objectives of the dissertation. It will be done through
undertaking different types of research conducted by different authors. Chapter 3: Research Methodology – In this section, different types of tools and
techniques which are required for carrying out the current dissertation will be discussed.
This will help researcher in taking the present research in a right direction. Along with
this validation of the selected techniques will be provided in this chapter. At last
limitation and ethical consideration will be presented which are used by the researcher.
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 Chapter 4: Data Analysis and Findings – It is a chapter in which all the collected
information will be presented. Chapter 5: Discussion: In this chapter discussion will be done on the collected
information and compare it with secondary information.
 Chapter 5: Conclusion and Recommendations – At the last section, all conclusions will
be provided on the basis of findings. Then appropriate suggestion will be given.
1.7 Framework and analysis Design of research– In the present dissertation descritptive research design will be used.
As it assist in gatehring rich and meaningful information related to the topic. Research approach – In this study focus of researcher will be on moving from specific
information to general. Therefore inductive approach will be undertaken in this research/ Research philosophy – Interpretivism philosophy will be used. Techniques of research – Qualitative technquie will be undertaken under which thematic
analysis will be done for presenting the findings Method for data collection – Both primary and secondary method will be used for
collecting the information. In primary research survey method will be used where
questions will be asked from employees of HK companies. On the other hand for
collecting the secondary information there are different sources such as websites, books,
and journals. In the present study literature work is based on the secondary information. Sampling technique – The sample selection for the study will be probabilistic nature
which provides equal chanced to people from the entire population. Here 50 employees
of HK companies will be selected with the use of random sampling methods. The
questionnaire will be used in respect to get opinion and view of the employees related to
the impact of balance scorecard.
 Analysis of data – There is used of qualitative method in respect to analyse the collected
data. There will be thematic approach will be used for analysing the information which is
collected from primary source.
1.8 Potential Significance
.The present research is important as it helps in developing the knowledge regarding the
present topic that is the impacts of using Balanced Scorecard (BSC) system in
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the organisations and the implementation of BSC by the organisations including large companies
and small and medium enterprises. It will help in identifying the way balance score card system
lead to improve the performance of the firm and help them in reaching the goals and objectives
on time. This research will provide potential significance related to the followings:
The HK companies will be provided assistance form this research. They will easily use the
balance scorecards system for measuring the performance of different areas within the
organisation.
Further the research will helpful in developing deep understanding related to the BSC and
its impact of the organisations.
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CHAPTER 2: LITERATURE REVIEW
2.1 Introduction
Literature review chapter is one of the important section which provide information
related to the present topic. It help researcher in collecting the large amount of information and
apply it for getting valid result. The present study is based on evaluating the impacts of using
Balanced Scorecard (BSC) system in the organisations and the implementation of BSC by the
organisations including large companies and small and medium enterprises. This section provide
detail in information regarding the importance of BSC and its effectiveness which help in getting
the valid result. The literature review is prepared on the basis of aims and objectives which make
easy to accomplish the main aim of the research. Apart from this, themes are prepared on the
basis of which all the collected information is presented in systematic manner. However, it
provides background and the development of BSC and analyse the impact of the BSC on
organisations.
2.2 To understand the importance of Balance scorecards system
According to the view of Cooper, Ezzamel, and Qu, (2017) The balanced scorecard is
developed in the 1990s and it is a performance measurement system. It is basically used within
the organization for measuring the performance of different areas. It is more effective as
compared to the other measuring tools such as financial measures etc. The BSC Suggest that it
view organization from the different perspective that is financial, internal process, organisational
capacity, and customer/stakeholder. Financial are used in order to measure the financial
performance of the company and the use of financial resources. Further customer perspective is
the view of the organisation performance from the point of customers which a firm has designed
to serve. The third perspective of BSC system is the internal process in which the performance of
the organisation is the view from the lense of quality of product and services which are
developed for the customers. At last the organisation capacity in which performance is the
measure of the technology, human capital, culture and other capacities. As per the view of Lin,
Hu Tseng and Lin, (2016) the main of the scorecard is to measure the financial and nonfinancial
performance in a single report. Therefore, it provides information to the manager which is
relevant and important for the organization. There is three distinct generation of the balance
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scorecard design. In the first generation, BSC had only 4 boxes for approaching the performance
measurement. While in second generation BSC it is linked with the first generation but it
identifies two different areas of the concern that is filtering and clustering. Therefore, BSC is
very effective for the organisation as it leads to provide the area within the organisation which is
required to improve. Along with this, the company can easily accomplish its aims and objectives
with the use of BSC system. However, there is some limitation for such measures. It can help in
measuring the one aspect of the company and there is no link between its result and performance.
This will help the company in identifying the weak area where improvement is required. Balance
scorecard is responsible for creating, popularising and expanding the number of terms and
concepts which are used in management strategy. There are many large organisations who
basically used balanced scorecard for the purpose of management tools as there are many among
them who unable to find its usefulness. There are many small business enterprises who gain
profit from implementing the balance scorecards as compared to large companies who get failed
in implementing it successfully. In the recent time, there are many publications which are related
to the balance scorecards which have been appeared in recent times. Balance scorecard is
popular as because of its products and general techniques which is enhancing gradually and is
surely useful at present.
It is evaluated that there are more than 50% of companies who are using BSC in their
decision-making process. It is also found that the techniques of BSC have been translated into 19
different languages. Therefore, it reflects that techniques related to the balance scorecard cards
and its version are more widely accepted by small and large business enterprises. As these
techniques are introduced in the corporate world then there are more large and advanced firms
who adopted to them. While there are small enterprises who are slow in adopting BSC
techniques. In respect to the bridge, these gaps in management techniques the SME are
encouraged to gain knowledge regarding this and adopt them. Through training and development
programme in which benefits of implementing the BSC are highlights is effect in order to
improve the popularity of them among smaller organisation. One of the important aspects of
introducing balance scorecards in the SME is lead to involvement of job creation.
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The concept of BSC is related to conventional thinking about performance metrics. It
help manages in developing better understanding related to how well the company is performing
as compared to the traditional method of measuring performance. According to the opinion of
Hoque, (2014) the main aim of balance scorecard is to bring the mission, vision, and objectives
of the firm into perspective with the use of key performance indicators and decision making. In
BSC there are four major categories that are as follows:
Financial perspective
Customer services
Internal business process
learning and growth
Through keeping these four perspectives of balance score card model in view
management need to ensure that they not only focus on one aspect and ignore other aspects. For
an organisation, it is not easy to incorporate new techniques of management with the less number
of people. Therefore, it becomes difficult for the firm to reduce the challenges which they face
while implementing Balance scorecard system. Bhattacharya, Mohapatra and Nudurupati, (2014)
state that impact of balance scorecard is larger on the small enterprises. There are many functions
in the organisation for which balance scorecard is used such as HR scorecards, stakeholder
scorecard etc. but they are not states as balanced scorecards. As because balance scorecards is
known as the performance measure which is basically used for managing and controlling the
strategy in the firm. After developing and mission and vision of the firm the role of balance
scorecards are started as it help in making sure that the firm is tracking measures which represent
progress in carrying out the strategy. There are two popular kinds of measures are lag measures
which show the end of a time period and other one is financial measure.
2.2 Limitations of Balanced Scorecard that the organisations would face in the application
According to the view of Valmohammadi and Ahmadi, (2015) the balance scorecards
have several limitations which organisation can face at the time of implementing. It becomes an
end itself as it required lots of time and expenses for implementing properly in the system. Cost
included in the implementation is related to the designing the scorecards and communicating
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about the system and providing training facility to all the employees of the organisation. Due to
lack of information system and support from top management the firm get failed in
implementing it. Therefore, it can be stated that for implementing the balance scorecards proper
knowledge is required regarding it so and support from top department so that it can be
effectively applied within the organisations. Heginbotham, Nixon and Libicki, 2015 believed
that not only address small and medium enterprise as because SME are deemed to work on a
more day to day agenda. Apart from this, there are a number of reason due to which Balance
scorecard get failed if top management support is present and not board really get involved in the
BSC project. In the BSC system, it is important to have support from all the department whether
it is implemented through software. There are many reasons due to which introduction of the
BSC is get failed. Coe and Letza, 2014 explained that one of the problems from which company
unable to accomplish success is related to insufficient recommendations related to the
implementation of BSC. Consequently, there is a lack of decision-making in helping companies
both when generating and linking the strategic goals and when generating the measures and their
values to be attained. In addition, the problems of implementing the BSC are that mainly
concerned recording and monitoring the defined measures. Apart from this from survey Cooper,
Ezzamel and Qu, (2017) found that all firms which are adopting BSC state that this model assists
in improving the operating performance in most of the cases. Along with this also identified that
firm which is adopting BSC get enough information related to the improvement of the operating
performance. The cause-and-effect linkages between measures within the BSC should lead to
improved financial results in the long-term. Therefore, the financial result can be proved through
improvement in the operational measures as because of this BSC firms in the competitive
advantage over their industry counterparts that they do not adopt Balance scorecard model for
measuring the organisational performance. With the help of this stock, the market result can
easily demonstrate by the improved in the financial results.
Rabbani, Zamani and Zavadskas, 2014 state that there is certain limitation which is
associated with balance scorecards in the small business enterprises. For example, it takes some
time for measuring appropriately. Therefore, firm need to wait for several months in respect to
get right measures. A further problem can take place if there is the case of the dynamic
organisation which leads to evolving quickly. This type of trait lead to encourages but also create
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the problem in measurement which is set in the balance scorecards. This lead to give rise to
critical issues compensation which is finding out by performance. After setting the performance
criteria it becomes easy for the firm to adopt BSC system. However, if there is the change done
in performance criteria then it becomes difficult for the company to adopt BSC. It leads to
certainly take place in the small business enterprises and in the firm where there is lack of HR
teams as because they unable to update compensations and another performance indicator. There
are few problems which company faced in measuring indicator are as follows:
There is not only single measure which needs to be provided as this lead to create difficulty.
Due to less time and high-cost company fail in implementing all the four measures.
2.3 The positive and negative impact of implementation of Balanced Scorecard in SMEs and
large companies
According to the view of Gabriel, Gimlich, Ehrenfeld and Urman, 2014 balance
scorecards design activity should be the collective effort which draws upon the combined
operational and strategic insights of key employees who are involved in running the business. If
any organisation fails to use collective approach it may weaken the strategy and fail the
implementation of BSC system. In small business enterprises there is less number of
stakeholders and in large enterprises, there is large number of employees, stakeholder, and
managers. While in the large organisation then BSC is same. In SME the organisational structure
is simple which does not provide any complexity in implementation of SME. If there is more
persuasive the management then the company can easily accomplish success. As per the author,
there are many studies which focus on the impact of balance scorecards system which leads to
assist in improving organisational performance.
According to the view of Bhattacharya, Mohapatra and Nudurupati, (2014), Balance
scorecard is one of the comprehensive tools which helps in measuring and monitoring the
financial and other performance of organisations. Along with this it also takes some non-
financial measures that are internal process, customer satisfaction, and organisation ability in
order to learn and improve all the activities which assist in deriving future financial performance.
There are many studies which have been conducted by several investigators in order to examine
the impact of implementation of Balanced Scorecard in SMEs and large companies (Perkins,
Grey and Remmers, 2014). Therefore research which is conducted in the banking sector as it
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reflects that bank branches implementing BSC have superior performance as compared to those
who did not implement BSC.
It is an effective tool to managed and to organised down the firm activities, by focusing
towards the key factors. It is tool that efficiently used by certain organisations and used under
the strategic based planning process and afterwards, they are going to admit down that this is a
very expensive and time consuming process. The organisation should know that how to use the
balance scorecard under planning and having experience to use it so company should understand
the concept behind it and understand it how this can be used under business and it is difficult for
the small companies to implement such process (Hoque, 2014). It is important for the managers
to carried down the objectives correctly, so it is important to monitored the situation and then
only the objective will be achieved by using appropriate and strategy based system otherwise, the
implementation been difficult and project is not finalised. It is an imbalanced scorecard under
the social responsibility process and development regarding management process and so on. So,
it turned out to be an imbalanced and not proper under such activity. It does not set out any
standards or nor give appropriate standards regarding rules and regulations to fulfil the core
objectives such as finance, consumers, organisations and firms and producing activity and so on
so, it been really difficult for the company to implement such scorecard tool as per the set and
standards. It considered the four activity that been already discussed and considered out the
performance that follow under the organisation (Coe and Letza, 2014). It does not give any
suggestion regarding to improve the performance, to make the work better and how the
performance would be better in such perspectives. So, its duty to perform for which it been
created and there are so many casualties been arisen after the completion of objective for which
it to be taken. It does not focus on the factors such as financial and risk management factors and
does not select any alternatives cost to meet out goal. By help of that the conclusion can be
drawn easily but its been difficult to quantify. It requires data management team to take down
data with the help of data mining process and sometime the data which been taken out will be an
accurate and it directly affects down the performance of management. Employees are not
supportive at all they used to work in that way only that they really work and they do not want to
accept such or to welcome this tool because for learning this it requires a proper time and
training and manager will not accept at all.
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CHAPTER 3: RESEARCH METHODOLOGY
3.1 Introduction
Research methodology is a documented process for the management of projects which
consist of definition, procedure and explanation of techniques which is used for collecting and
analysing the information for getting valid outcome. There are many studies which have been
carried out on Balance scorecards but due to lack of methods and techniques they unable to carry
out appropriate research (Cooper, Desjardins and Croll, 2016. ). The aim of the dissertation is to
explore the optimal research methodology which can be applied to evaluate the impacts of using
Balanced Scorecard (BSC) system in the organisations and the implementation of BSC by the
organisations including large companies and small and medium enterprises.
3.2 Research design:
In respect to attain the most appropriate result, it is essential for the investigator to
employ the suitable research method in the present dissertation. The present research is more
exploratory in nature rather than the descriptive. It is so because it helps in determining the
perception of balance score cards and its effectiveness for an organisation. Along with this it also
explored the reasons for most repeated outcome where qualitative insights come into play. There
are different types of research design that is descriptive, explanatory and exploratory. The
descriptives research design is use for describing the characteristics of the population which are
considered in this study (Bathelt and Glückler, 2017 ). On the other side explanatory research
design is used for investigating and uncovering those issues which provide valid outcome in
relation to the aims and objectives.
In the present investigation research is using exploratory research design. The reason behind
selecting this design is that as it help in uncovering the issues which has been not identified yet.
This help in making research more effective and carry out the research in an right direction.
Along with this, it also provides researcher a different way to reach the valid outcome. Hence,
owing this design is proven to be effective (Peter, Werner and Alavi, 2017. ). This research
design is selected because the selected topic was already covered in the previous studies.
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3.3 Research approach:
Research approach is important aspect in the research methodology which put light on
the patter of gathering information. There are two types of research approach inductive and
deductive. In inductive approach firstly it demands for the generalization of collected
information then focus on specific one. In this all the observation is taken in to consideration
with theoretical aspects. However, this approach is effective at the time when qualitative
investigation is undertaken. On the other side in deductive approach investigator focus on first
collecting specific information then generalisation of the same is done. Under this researcher
focus on constructing new theory through taking evaluation of the quantitative aspects. The
selection of the research approach is done on the basis of nature of the type of investigation
(Attar, Haghighat and Ghassemi, 2016.). The present research is based on the evaluating the
impacts of using Balanced Scorecard (BSC) system in the organisations and the implementation
of BSC by the organisations including large companies and small and medium enterprises,
inductive approach has been applied. The main reason behind selecting these techniques is that
this aspect is carry out study firstly by collecting general information first then find the specific
causes behind the limitation of Balance score card. Along with this it also permits investigator to
develop deep understanding related to the selected topic and link with the same scenario through
gathering primary information.
3.4 Data collection:
To accomplish the entire dissertation it is important to collect information from different
sources. It helps in identifying different issues which company face at the time of implementing
the BSC while it also assist in analysing its effectiveness. There are two methods through which
data can be collected that is primary and secondary. Primary information is that information
which is new and it is not published by any author (Raynor, Ayubcha and Alavi, 2017). On the
other hand secondary information is that information which is old and already published by
different authors. The present research is based on evaluating the impacts of using Balanced
Scorecard (BSC) system in the organisations and the implementation of BSC by the
organisations including large companies and small and medium enterprises (SME), therefore
both primary as well as secondary information is collected for making research more effective
and reliable. There are different method through which primary information can be collected that
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is questionnaire, survey, interview etc. while secondary information can be collected through
books, journals, and articles. In the present investigation for collection the primary information
investigator is using questionnaire method in which questions will be asked from managers of
HK companies. Further for collecting secondary information books, websites and journals will
be referred.
Textbooks and journals from the management accounting field will be carried out primarily
through the use of City University’s library and electronic resources (Muriana and Vizzini,
2017.). Textbooks will be mainly used to define the theory of BSC. Journals will be used when
studying the current issues in BSC system. Relevant secondary information will also be collected
from the newspapers and magazines.
On the other hand, questionnaire enquiry in order to investigate the views of companies’
researcher intend. A questionnaire is a structured technique for collecting primary data, which to
get a broad indication of the development of knowledge in any particular field. A random sample
of 50 to 100 HK companies will be selected for the questionnaire enquiry. This should be enough
to give the sufficient responses for workable data if there is a standard response rate.
The reason behind selecting information from different sources is that it help in making
research more reliable and valid.
3.4 Sample:
The main reason of sampling in the investigation is that it assist the course of researcher
to study less and important elements which is known as sample. It is a process of selecting the
target audience in the entire population which assist scholar in making research viable and
reliable (Mammen, Norton and Butz, 2016. ). As per the nature of study purposive sampling
method is taken into consideration. Here 4 managers from 50 SME companies and 4 managers
from 50 Large companies is taken into consideration. The reason behind selecting them is that
they help in providing specific information related to the implication of implementing Balance
scorecards
Name of SME companies: Amoy food. Ampd energy, Goods of desire etc.
For selecting the sample permission was taken from the management department of the
company.
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3.5 Data analysis
It is important chapter in the entire dissertation as because without analysing the data it is
not easy to get valid outcome. It is not easy to analyse the collected data as because there are
different tools and techniques which is required to use for it (Hwang, Mossa-Basha and Anzai,
2016). The reason behind analysing the collected data is to covert raw material into a meaningful
information. There are two type of techniques which can be use for analysing the collected data
that is qualitative and quantitative. Both the techniques are effective in order to produce valid
outcome. In qualitative techniques all the non numeric base is used for analyses such as thematic
perception, charts and tables. On the other hand in quantitative techniques the collected
information is analysed with the use of numeric form. In this different test are applied for such as
Z-test, chi-square test, etc. The present research is based on evaluating the impacts of using
Balanced Scorecard (BSC) system in the organisations and the implementation of BSC by the
organisations including large companies and small and medium enterprises (SME)”.therefore
qualitative analysis is undertaken for measuring the gathered information. Under this different
themes will be prepared on the basis of results and different charts are used for presenting the
findings in an appropriate manner (Landau, Cohen-Mansfield and Lev-Ari, 2016. ).
The reason behind selecting is that it help in presenting the result in appropriate manner
with the help of this it becomes easy for the research to present the finding with themes and
charts in order to get valid outcome.
3.6 Ethical considerations:
At the time of carrying out research it is important for researcher to undertake ethical
consideration. In order to complete the research it is important to focus on time. The present
study is based on evaluating the impacts of using Balanced Scorecard (BSC) system in
the organisations and the implementation of BSC by the organisations including large companies
and small and medium enterprises (SME)”.
In respect to complete the entire research it is important for the investigator to focus on
certain ethics. Therefore, ethics can be focused at the time of approaching the potential
respondents. At this point all the respondents were asked to take participate in the data collection
procedure and they are not forced for taking participations. Along with this the purpose of the
research is also made clear in front of the respondents (Kalra, Phadnis and Joshi, 2017. ). Apart
15

from this at the time of collecting secondary information the sources are cited properly with the
evidence. As it lead to aids to determine ethical aspect and assist researcher to meet the
objectives in a right manner.
3.7 Research limitation:
The present dissertation is based on evaluating the impacts of using Balanced Scorecard
(BSC) system in the organisations and the implementation of BSC by the organisations including
large companies and small and medium enterprises (SME)”. Therefore, investigator has put all
its efforts in working this topic in order to get effective and appropriate results. There is
limitation of time due to which investigator was unable to collected information from large
number of respondents (Abidin, Rusli and Khan, 2016. ). Due to this reason the selected sample
size is 50 which is neither too low or high. Further due to lack of monetary resources' researcher
was unable to used advanced techniques for collecting the information. However, investigator
has tried to carry out entire research in systematic manner with less time and resources.
16

Chapter 4: Data collection
4.1 Introduction
Data analysis chapter is important section the entire research because provide all the new
information which help in making the research more effective. Along with this it also assists
researcher to carry out depth analysis in the line of the literature review The data analysis chapter
is carry out through qualitative techniques in which different themes is prepared on the basis of
collected information. Further each themes is supported by the tables and graph which help in
making presenteatin of data more effective and assist in completing the study.
Themes for SME companies
Theme 1: SME companies are using a balance scorecards (BSC).
1.) Is your company using a
balance scorecards (BSC)?
No. of
respondents of
SME
Yes 130
No 60
Do not know 10
200
17

Interpretation : From the above chart it reflects that there are 130 respondents who stated that
their companies are using Balance scorecards and there are 60 who replied that there firms still
do not use Balance scorecards. On the other hand there are 10 participants who do not know
about it.
Theme 2: In a year companies decided to adopt a Balance scorecards.
2.) When did your company
decide to Adopt a Balance
scorecards?
No. of
respondents of
SME
Last year 70
Within a year 120
Not yet decided 10
200
18
Yes No Do not know
0
20
40
60
80
100
120
140 130
60
10
Column C

Interpretation: The aforementioned chart shows that there are 120 participants who has adopted
balance scorecard in this year. On the other hand there are 70 who replied that the are using it
since from last year while there are 10 who still not decided when they can adopt the Balance
scorecards.
Theme 3: There are benefit of implementing Balance scorecards.
3.) Did you find any benefit of
implementing Balance
scorecards?
No. of
respondents of
SME
Highly agree 70
agree 50
neutral 20
Disagree 40
19
Last year Within a year Not yet decided
0
20
40
60
80
100
120
140
70
120
10
Column C

Highly disagree 20
200
Interpretation: From the above chart it reflect that there are 70 participants who are highly
agreed while 50 who are only agreed that there are some benefits of implementing Balance
scorecards. On the other hand there are 40 who are disagreed and 20 who are highly disagreed
with the statement. Further there are 20 who are neutral as they are neither agreed nor disagreed
that there are any benefits of BSC implementation.
Theme 4: The main benefit of Implementing Balance scorecards is improved the financial
performance
4.) According to your opinion,
what is the main benefit of
Implementing Balance
scorecards?
No. of
respondents of
SME
20
Highly agree
agree
neutral
Disagree
Highly disagree
0 10 20 30 40 50 60 70 80
70
50
20
40
20
Column C

Increasing creativity and
unexpected idea 30
Align key performance measure 40
Improvement in operating
performance 50
Improve financial performance 80
200
Interpretation: The above chart reflect that there are 80 respondents who stated that the main
benefit of Implementing Balance scorecards is that it improve financial performance while 50
said that it improve operating performance. On the other hand there are 30 who replied that
benefits which they get from implementing the balance scorecards is Increasing creativity and
unexpected idea.
Theme 5: There is limitation of balance scorecard.
21
0.5 1 1.5 2 2.5 3 3.5 4 4.5
0
10
20
30
40
50
60
70
80
90
30
40
50
80
Column C

5.) According to your view is
their any limitation of balance
scorecard?
No. of
respondents of
SME
Highly agree 70
agree 50
neutral 10
Disagree 30
Highly disagree 30
200
Interpretation: From the above chart it reflects that there are 70 participants who are highly
agreed while 50 who are only agreed that there are limitation of balance scorecard. On the other
hand there are 30 who are disagreed and 30 who are highly disagreed with the statement. Further
22
0
20
40
60
80
30
40
70
60
Column C

there are 10 who are neutral as they are neither agreed nor disagreed that there is limitation of
balance scorecard
Theme 6: Lack of information and support from top management is the limitation of Balance
scorecard.
6.) What is the limitation of
Balance scorecard which can
impact your business?
No. of
respondents of
SME
Lack of data collection and
reporting 30
Too much internal focus 40
Lack of information and support
from top management. 70
Time and cost 60
200
23

Interpretation: Aforementioned charts shows that there are 70 participants who said that lack of
information and support from top management while there are 60 state that time and cost. On the
other hand there are 30 respondents who replied that lack of data collection is the limitation of
the Balance scorecards system while 40 said too much internal focus is the limitation.
Theme 7: Communication is the most important in relation to improving performance when
implementing a Balanced Scorecard
7.) According to your opinion,
would you agree that
communication is the most
important in relation to
improving performance when
implementing a Balanced
Scorecard?
No. of
respondents of
SME
Highly agree 70
24
0
20
40
60
80
30
40
70
60
Column C

agree 60
neutral 10
Disagree 30
Highly disagree 30
200
Interpretation: From the above chart it reflects that there are 70 participants who are highly
agreed while 60 who are only agreed that that communication is the most important in relation to
improving performance when implementing a Balanced Scorecard. On the other hand there are
30 who are disagreed and 30 who are highly disagreed with the statement. Further there are 10
who are neutral as they are neither agreed nor disagreed with the given statements.
Theme 8: The more non-financial measures (customer retention or employee turnover) analysts
use, the more accurate are their earnings forecasts.
25
Highly agree
agree
neutral
Disagree
Highly disagree
0 10 20 30 40 50 60 70 80
70
60
10
30
30
Column C

8.)According to your opinion,
would you agree that the more
non-financial measures
(customer retention or employee
turnover) analysts use, the more
accurate are their earnings
forecasts?
No. of
respondents of
SME
Highly agree 80
agree 50
neutral 10
Disagree 20
Highly disagree 40
200
26
Highly agree agree neutral Disagree Highly disagree
0
10
20
30
40
50
60
70
80
90
80
50
10
20
40 Column C

Interpretation: From the above chart it reflects that there are 80 participants who are highly
agreed while 50 who are only agreed that the more non-financial measures (customer retention or
employee turnover) analysts use. On the other hand there are 20 who are disagreed and 40 who
are highly disagreed with the statement. Further there are 10 who are neutral as they are neither
agreed nor disagreed with the given statements.
Theme 9: Customer perspective is included in the Balanced Scorecard used by companies
9.) Please indicate that customer
perspective is included in the
Balanced Scorecard used by
your company?
No. of
respondents of
SME
Yes 120
No 80
Do not know 0
200
27

Interpretation: Aforementioned chart shows that there are 120 participants who said that
customer perspective is included in the Balanced Scorecard used by their company. On the other
hand, 80 replied SME who replied that customer perspective is not included in the Balanced
Scorecard used by their company.
Theme 10: Balanced Scorecard Measures of Performance are Directly Linked to Strategy
10.) Is Balanced Scorecard
Measures of Performance are
Directly Linked to Strategy
No. of
respondents of
SME
Highly agree 60
agree 70
neutral 10
Disagree 40
Highly disagree 20
28
Yes
No
Do not know
0 20 40 60 80 100 120 140
120
80
0
Column C

200
Interpretation: From the above chart it reflects that there are 60 participants who are highly
agreed while 70 who are only agreed that Balanced Scorecard Measures of Performance are
Directly Linked to Strategy. On the other hand there are 40 who are disagreed and 20 who are
highly disagreed with the statement as they think there is no link between them. Further there are
10 who are neutral as they are neither agreed nor disagreed with the given statements.
Themes for large companies
Theme 1: Large companies are using a balance scorecards (BSC).
1.) Is your company using a
balance scorecards (BSC)?
No. of respondents of large
companies
Yes 150
No 40
Do not know 10
29
Highly agree agree neutral Disagree Highly disagree
0
10
20
30
40
50
60
70
80
60
70
10
40
20
Column C

200
Interpretation : From the above chart it reflects that there are 150 respondents who stated that
their companies are using Balance scorecards and there are 40 who replied that there firms still
do not use Balance scorecards. On the other hand there are 10 participants who do not know
about it.
Theme 2: Last year companies decided to adopt a Balance scorecards.
2.) When did your company
decide to Adopt a Balance
scorecards?
No. of respondents of large
companies
Last year 130
Within a year 60
Not yet decided 10
30
Yes No Do not know
0 20 40 60 80 100 120 140 160
150
40
10
Column D

200
Interpretation: The aforementioned chart shows that there are 130 participants who has adopted
balance scorecard last year. On the other hand there are 60 who replied that they are using it
from this year while there are 10 who still not decided when they can adopt the Balance
scorecards.
Theme 3: There are benefit of implementing Balance scorecards.
3.) Did you find any benefit of
implementing Balance
scorecards?
No. of respondents of large
companies
Highly agree 80
agree 60
neutral 10
31
Last year Within a year Not yet decided
0
20
40
60
80
100
120
140 130
60
10
Column D

Disagree 30
Highly disagree 20
200
Interpretation: From the above chart it reflects that there are 80 participants who are highly
agreed while 60 who are only agreed that there are some benefits of implementing Balance
scorecards. On the other hand there are 30 who are disagreed and 20 who are highly disagreed
with the statement. Further there are 10 who are neutral as they are neither agreed nor disagreed
that there are any benefits of BSC implementation.
Theme 4: The main benefit of Implementing Balance scorecards is improved the financial
performance
4.) According to your opinion,
what is the main benefit of
No. of respondents of large
companies
32
agree Disagree
0 10 20 30 40 50 60 70 80 90
80
60
10
30
20
Column D

Implementing Balance
scorecards?
Increasing creativity and
unexpected idea 60
Align key performance measure 40
Improvement in operating
performance 30
Improve financial performance 70
200
Interpretation: The above chart reflect that there are 70 respondents who stated that the main
benefit of Implementing Balance scorecards is that it improve financial performance while 30
said that it improve operating performance. On the other hand there are 60 who replied that
33
Improvement in operating performance
0 10 20 30 40 50 60 70 80
60
40
30
70
Column D

benefits which they get from implementing the balance scorecards is Increasing creativity and
unexpected idea. While there are 40 who said that it help in aligning key performance measure
Theme 5: There is limitation of balance scorecard.
5.) According to your view is
their any limitation of balance
scorecard?
No. of respondents of large
companies
Highly agree 80
agree 60
neutral 10
Disagree 30
Highly disagree 20
200
34
Too much internal focus Time and cost
0
10
20
30
40
50
60
70
80
90
100
20
60
30
90
Column D

Interpretation: From the above chart it reflects that there are 80 participants who are highly
agreed while 60 who are only agreed that there are limitation of balance scorecard. On the other
hand there are 30 who are disagreed and 20 who are highly disagreed with the statement. Further
there are 10 who are neutral as they are neither agreed nor disagreed that there is limitation of
balance scorecard
Theme 6: Time and cost is the limitation of Balance scorecard.
6.) What is the limitation of
Balance scorecard which can
impact your business?
No. of respondents of large
companies
Lack of data collection and
reporting 20
Too much internal focus 60
Lack of information and support
from top management. 30
Time and cost 90
200
35

Interpretation: Aforementioned charts shows that there are 30 participants who said that lack of
information and support from top management while there are 90 state that time and cost. On the
other hand there are 20 respondents who replied that lack of data collection is the limitation of
the Balance scorecards system while 60 said too much internal focus is the limitation.
Theme 7: Communication is the most important in relation to improving performance when
implementing a Balanced Scorecard.
7.) According to your opinion,
would you agree that
communication is the most
important in relation to
improving performance when
implementing a Balanced
Scorecard?
No. of respondents of large
companies
Highly agree 80
agree 50
36
Too much internal focus Time and cost
0
10
20
30
40
50
60
70
80
90
100
20
60
30
90
Column D

neutral 10
Disagree 20
Highly disagree 40
200
Interpretation: From the above chart it reflects that there are 80 participants who are highly
agreed while 50 who are only agreed that that communication is the most important in relation to
improving performance when implementing a Balanced Scorecard. On the other hand there are
20 who are disagreed and 40 who are highly disagreed with the statement. Further there are 10
who are neutral as they are neither agreed nor disagreed with the given statements.
Theme 8: The more non-financial measures (customer retention or employee turnover) analysts
use, the more accurate are their earnings forecasts
8.)According to your opinion, No. of respondents of large
37
Highly agree agree neutral Disagree Highly disagree
0
10
20
30
40
50
60
70
80
90
80
50
10
20
40 Column D

would you agree that the more
non-financial measures
(customer retention or employee
turnover) analysts use, the more
accurate are their earnings
forecasts? companies
Highly agree 70
agree 60
neutral 10
Disagree 30
Highly disagree 30
200
38
Yes No Do not know
0 20 40 60 80 100 120 140 160
150
50
0
Column D

Interpretation: From the above chart it reflects that there are 70 participants who are highly
agreed while 60 who are only agreed that the more non-financial measures (customer retention or
employee turnover) analysts use. On the other hand there are 30 who are disagreed and 30 who
are highly disagreed with the statement. Further there are 10 who are neutral as they are neither
agreed nor disagreed with the given statements.
Theme 9: Customer perspective is included in the Balanced Scorecard used by companies
9.) Please indicate that customer
perspective is included in the
Balanced Scorecard used by
your company?
No. of respondents of large
companies
Yes 150
No 50
Do not know 0
200
39
Yes No Do not know
0 20 40 60 80 100 120 140 160
150
50
0
Column D

Interpretation: Aforementioned chart shows that there are 150 participants who said that
customer perspective is included in the Balanced Scorecard used by their company. On the other
hand, 50 replied large companies do not used customer perspective is not included in the
Balanced Scorecard used by their company.
Theme 10: Balanced Scorecard Measures of Performance are Directly Linked to Strategy
10.) Is Balanced Scorecard
Measures of Performance are
Directly Linked to Strategy
No. of respondents of large
companies
Highly agree 80
agree 60
neutral 10
Disagree 30
Highly disagree 20
200
40

Interpretation: From the above chart it reflects that there are 80 participants who are highly
agreed while 60 who are only agreed that Balanced Scorecard Measures of Performance are
Directly Linked to Strategy. On the other hand there are 30 who are disagreed and 20 who are
highly disagreed with the statement as they think there is no link between them. Further there are
10 who are neutral as they are neither agreed nor disagreed with the given statements.
41
agree Disagree
0 10 20 30 40 50 60 70 80 90
80
60
10
30
20
Column D

CHAPTER 5: DISCUSSION OF FINDINGS
5.1 Introduction
The chapter of discussion and finding is just started after the completion of data analysis
chapter. Further it also put light on the findings presented in study with the detail discussion is
done in relation with the literature review. This chapter makes sure that the consistency of
primary and secondary so that research aims, objectives and questions can be achieve in an
effectual manner. Further all the findings will be reflected in the light of collected and completed
investigation which help in accomplishing all the objectives of the research in an appropriate
manner.
5.2 Discussion based on the findings of Small business enterprises in relation to literature review
According to the data analysis chapter, it was found that there are many small business
enterprises companies who are using a balance scorecards. As per the view of respondent there
are many benefits of implementing the balance scorecards for their companies. Balance
scorecards which is designed for SME is included similar process with the steps which are
needed for the large organisation. Size is not the factor which decide that company should
adopted the balance scorecards or not. It benefits company through focusing on activities which
are really important for them. However, the finding from the literature review shed the light on
benefits which SME can have through implementing Balance scorecards. From the findings it is
identified that there are many SME who's financial performance is improved through the Balance
scorecards.
There are many reasons for the failure of balance scorecards such as having dev eloped
strategic goal and find out different performance measure which the organisation may not use for
to drive the changes within the firm. For instance of company is strongly budgeted oriented in all
its planning then from starting of the balance scorecard it need to kept in mind so that company
do not face any kind of issues in mid of implementation. The company have to face some
limitation at the time of implementing the Balance scorecards. By reviewing the previous studies
it is discovered that lack of support from the manager create barrier in implementation while
from the findings it is proved. It shows this finding is consistent with the literature review. From
the findings it shows that there are many respondents who are highly agreed that if non financial
measure is use such as customer retention or employee forecasts then it leads to be more accurate
42

their earning. As the non financial measures provide different advantage as it lead to create better
indicators of future financial performance. If company consider customer retention factor as it
lead to directly maximise the profit of the firm. Similar to this as investment in customer
satisfaction assists in improving the future profits through increasing revenue and loyalty of
existing customers. Apart from this from the findings it is identified that communication is the
most important in relation to improve the performance at the time of implementing balance
scorecards. At the time of planning of using balance scorecards it is important to make sure that
internal communication strategy can break the efforts or help in accomplishing it successfully.
As the communication is one of the prominent drivers of strategic success. Due to this
reason some of the company is find it effective to develop a communication plan. As because the
solid communication plan help in making sure that information is being distribute effectively at
all the level. At last from the findings it is identified that Balanced Scorecard Measures of
Performance are Directly Linked to Strategy. There are different perspective in the balance
scorecards that are customers, financial etc for measuring all of them it is important to have some
strategy. The strategy is important because it works as a feedback mechanism. Further the
strategy is related to constantly change if company do not make strategy then it cannot move
forward or achieve success The strategy may foster on the better understanding of the balance
scorecards in all the employees who are working in an organisation. The structure of SME is
short and simple which do not create any barrier in the implementation of the balance scorecards.
The information gathered form secondary research shows that small companies can easily keep
coordination between employees and management due to which firm do not face problem in
implementation of Balance scorecards.
5.3 Discussion based on the findings of Large companies in relation to literature review
From the findings it is analysed that there are many large companies in Hong Kong who
are using Balance scorecards since from the last year. They are become familiar with the way of
adopting and implementing balance scorecards (Peter, Werner and Alavi, 2017). Further, in large
companies structure is large and too complex due to which top management face difficulty in
implementation. These findings are consistent with literature review because the findings reveal
that there are many some benefits which have on large companies such as it assist company in
increasing creativity and unexpected data idea. Further, company can also improve its financial
43

performance because with the help of this company can easily retain customer for longer time
and enhanced their satisfaction level.
Furthermore, the findings from literature review shed light on different factors that become
limitation for the company and impact the business such as time and cost and too much internal
focus. Due to this reason company face issues in the implementation (Muriana and Vizzini,
2017). It becomes an end itself as it required lots of time and expenses for implementing
properly in the system. Cost included in the implementation is related to the designing the
scorecards and communicating about the system and providing training facility to all the
employees of the organisation (Perkins, Grey and Remmers, 2014). Apart from this, by
reviewing previous studies it was discovered that for implementing the balance scorecards proper
knowledge is required regarding it so and support from top department so that it can be
effectively applied within the large organisations (Médici and Allen, 2016). On the other hand,
research findings shows that some of the factor company need to consider while implementation
of the BSC such as to collect huge information as it help in successfully implementation.
Through proper communication related to the strategies adopted by the top management
company as it help in gaining success. Therefore, firm need to wait for several months in respect
to get right measures. A further problem can take place if there is the case of the dynamic
organisation which leads to evolving quickly. This type of trait lead to encourages but also create
the problem in measurement which is set in the balance scorecards. The implementation of the
BSC helps in improving organisational performance at the time when the firm is effectively
communicate all the strategies with the employees and delegate them their task systematically
44

CHAPTER 6: RECOMMENDATION AND CONCLUSION
6.1 Conclusion
From the first objective that is To understand the importance of Balanced Scorecard
(BSC) system.” it is concluded that implementation of the balance scorecard play significant role
in respect to the success of the organisations. The BSC view the organisation from different
perspective such as is financial, internal process, organisational capacity, and
customer/stakeholder. Financial are used in order to measure the financial performance of the
company and the use of financial resources. It helps in measuring the financial and non financial
performance of the company due to which company can easily make changes according to the
measurement. In non financial measure company need to focus on customer retention,
satisfaction etc. it plays significant role because it leads to provide the area within the
organisation which is required to improve so that company can easily accomplish success. There
are many SME dues to short and simple structure can easily take advantage of BSC. IT becomes
more popular in SME because of its general techniques
From the second objectives that is To identify any limitations of Balanced Scorecard that
the organisations would face in the application there is lack of support from the top management
due to which company is unable to implement the balance scorecards successfully. Further. In
large companies at the time of implementation it consumes lots of time and cost due to which
sometimes it may fail. Along with this, while focusing on one aspect it unable to keep link
between the performance and strategy. the problems from which company unable to accomplish
success is related to insufficient recommendations related to the implementation of Balanced
Scorecard. Consequently, there is a lack of decision-making in helping companies both when
generating and linking the strategic goals and when generating the measures and their values to
be attained.
From the third objective that is to evaluate the positive and negative impact of
implementation of Balanced Scorecard in SMEs and large companies it is concluded that
Balanced Scorecard directly impact the organisation if it is not implemented carefully. However,
company need to plan its approach so that it do not face issues while implementation. In SME
the organisational structure is simple which does not provide any complexity in implementation
of SME. If there is more persuasive the management then the company can easily accomplish
45

success. Through the help of this company can easily monitor its financial and non financial
performance.
6.2 Recommendations
On the basis of data analysis chapter recommendation for both SME and large companies are as
follows:
The top down structure is effective for the firm so that Balanced Scorecard can be
successfully implemented for this purpose company bottom up strategy as it is directly linked
with the balance scorecards. With the use of strategy company can easily make changes which
help in gaining profit. Company need to aware of what strategies they are using so that it do not
impact the BSC.
In companies top management need to be work with all the department and they need to
provide support so that company can easily implement it successfully. Due to lack of support of
the top management it is not easy to carry out the Balanced Scorecard in right direction. Further,
top level department can take immediate action for making improvement in Balanced Scorecard
if required.
Further it is recommended that company can focus on making improvement in its internal system
such as communication, map strategy and execution of Balanced Scorecard so that it can be
implemented successfully.
Further it is recommended before implementing it successful it is important to gain knowledge
related to the Balanced Scorecard and make sure that each and every employee within the
organisation came it know about it so that they help in implementation.
Company can trained its employees as it helps in making sure that each and every employees
have enough knowledge regarding it which lead to reduce the chances of failure. It is important
that all the employees are involved in the decision making process of related to the Balanced
Scorecard implementation as it provide huge knowledge related to the different ways for
successfully adopting it
It is time consuming process therefore company need to make its company structure simple
instead of keeping it complex so that problem occur at the time of implementation. The
organisation should know the way to use the balance scorecard under planning and having
experience to use it so employees should understand the concept behind it and understand it the
46

way this can be used under business. Difficult for the small companies to implement such
process. It is important for the managers to carried down the objectives correctly and it is
important to monitored the situation and then only the objective will be achieved by using
appropriate and strategy based system.
47

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Name: ABC (Respondent of Amoy food)
Age: 38
gender: Male
1.) Is your company using a balance scorecards (BSC)?
Yes ✓
No
Do not know
2.) When did your company decide to Adopt a Balance scorecards?
Last year ✓
Within a year
Not yet decided
3.) Did you find any benefit of implementing Balance scorecards?
Highly agree ✓
agree
neutral
Disagree
Highly disagree
4.) According to your what is the main benefit of Implementing Balance scorecards?
Increasing creativity and unexpected idea
Align key performance measure
Improvement in operating performance ✓
Improve financial performance
5.) According to your view is their any limitation of balance scorecard?
Highly agree
agree ✓
52

neutral
Disagree
Highly disagree
6.) What is the limitation of Balance scorecard which can impact your business?
Lack of data collection and reporting
Too much internal focus
Lack of information and support from top management. ✓
Time and cost
7.) What is the main challenges your company faced in implementing Balance scorecards?
Complicating the initial implementation
Vague strategy ✓
Absence of a common vocabulary
8.) According to your opinion, would you agree that communication is the most important in
relation to improving performance when implementing a Balanced Scorecard?
Highly agree ✓
agree
neutral
Disagree
Highly disagree
9.)According to your opinion, would you agree that the more non-financial measures (customer
retention or employee turnover) analysts use, the more accurate are their earnings forecasts?
Highly agree ✓
agree
neutral
Disagree
Highly disagree
53

10.) Please indicate that customer perspective is included in the Balanced Scorecard used by
your company?
Yes✓
No
Do not know
11.) Is Balanced Scorecard Measures of Performance are Directly Linked to Strategy
Highly agree
agree✓
neutral
Disagree
Highly disagree
Appendix (Questionnaire)
Name: ABC (Respondent of Amoy food)
Age: 38
gender: Male
1.) Is your company using a balance scorecards (BSC)?
Yes
No
Do not know
2.) When did your company decide to Adopt a Balance scorecards?
Last year
Within a year
Not yet decided
3.) Did you find any benefit of implementing Balance scorecards?
Highly agree
54