The ‘balanced scorecard’ approach aims to provide information to management to assist strategic policy formulation and achievement. It emphasizes the need to provide the user with a set of information which addresses all relevant areas of performance in an objective and unbiased fashion.

Requirements:

(i) Discuss in general terms the main types of information which would be required by a manager to implement this approach to measuring performance;

and

(ii) comment on three specific examples of performance measures which could be used in a company in a service industry, for example a firm of consultants.