Journal of Economic, Finance Research and Review (JEFRR) · Research article · Open access
Balanced Scorecard: Great Management Tool or Illusion of Success?
Mukhtaruddin ., Rizki Meidira Adhyaksa, Rina Tjandrakirana DP
28 January 2026 · Vol. 2, Issue 1, pp. 1-8
DOI: 10.65150/EP-jefrr/V2E1/2026-01
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What is this article about?
The Balanced Scorecard (BSC) is a strategic management tool that combines financial and non-financial performance measures to help companies achieve long-term goals. This study aims to assess the effectiveness of BSC in improving company performance.
Article at a glance
- Published
- 28 January 2026
- Volume / issue / pages
- Vol. 2, Issue 1, pp. 1-8
- ISSN
- 3051-3650 (online) · 3051-3642 (print)
- Licence
- CC BY 4.0 — free to read and reuse with attribution
- Peer review
- Double-blind, at least two independent reviewers
- Publisher
- EP Journals Group
Abstract
The Balanced Scorecard (BSC) is a strategic management tool that combines financial and non-financial performance measures to help companies achieve long-term goals. This study aims to assess the effectiveness of BSC in improving company performance. Using qualitative methods, the author reviews literature studies that both support and criticize its implementation. The results indicate that while BSC has been shown to help companies develop strategies and enhance performance in various industries, its implementation is also criticized. Some studies reveal a disconnect between formulated and implemented strategies and question the long-term validity of BSC. Factors such as uncertainty in the business environment, inappropriate design, and lack of management commitment are often cited as causes of failure in BSC implementation. The author concludes that while BSC can be an effective tool in performance measurement, its success relies heavily on the company's ability to tailor its use to its internal needs and conditions.
Keywords: Balanced scorecard, management accounting, firm performance JEL Codes : M40, M49, L25
Cite this article
Mukhtaruddin ., Rizki Meidira Adhyaksa, & Rina Tjandrakirana DP (2026). Balanced Scorecard: Great Management Tool or Illusion of Success?. Journal of Economic, Finance Research and Review, 2(1), 1-8. https://doi.org/10.65150/EP-jefrr/V2E1/2026-01
@article{Mukhtaruddin2026,
title = {Balanced Scorecard: Great Management Tool or Illusion of Success?},
author = {Mukhtaruddin . and Rizki Meidira Adhyaksa and Rina Tjandrakirana DP},
journal = {Journal of Economic, Finance Research and Review},
year = {2026},
volume = {2},
number = {1},
pages = {1-8},
doi = {10.65150/EP-jefrr/V2E1/2026-01},
url = {https://doi.org/10.65150/EP-jefrr/V2E1/2026-01}
}Questions about this article
Who wrote this article?
Mukhtaruddin ., Rizki Meidira Adhyaksa, Rina Tjandrakirana DP.
Where and when was it published?
In Journal of Economic, Finance Research and Review, Volume 2, Issue 1, pages 1-8, published by EP Journals Group on 28 January 2026.
Is this article free to read?
Yes. It is open access under a Creative Commons Attribution 4.0 (CC BY 4.0) licence, so anyone can read, share and reuse it with attribution.
What is the DOI of this article?
10.65150/EP-jefrr/V2E1/2026-01 (https://doi.org/10.65150/EP-jefrr/V2E1/2026-01).
How do I cite this article?
APA: Mukhtaruddin ., Rizki Meidira Adhyaksa, & Rina Tjandrakirana DP (2026). Balanced Scorecard: Great Management Tool or Illusion of Success?. Journal of Economic, Finance Research and Review, 2(1), 1-8. https://doi.org/10.65150/EP-jefrr/V2E1/2026-01
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