Using Balanced Scorecard for measuring excellence in SMEs

摘要

This paper analyses the application of the Balanced Scorecard (BSC) methodology in Romanian Small and Medium Enterprises (SMEs) and identifies advantages and disadvantages from the implementation of such a strategy-focused approach to meeting the ever changing business environment. At first the context of business excellence and the specific characteristics of SMEs are described arguing that although BSC was proven successful for large enterprises, under certain circumstances; its application can improve their performance in the medium and long term. The second part is an empirical case study of BSC applied in measuring excellence of Romanian SMEs, highlighting issues concerning the adequacy and applicability of BSC in implementing future developments of the SMEs leading to performance improvement.