Title: Balanced scorecard as a tool for small business reorganisation

Authors: Mikko Hakola

Addresses: Department of Accounting and Finance, University of Vaasa, Vaasa 65200, Finland

Abstract: This study aspires to stimulate the use of the balanced scorecard concept in estimation of comprehensive performance views of small companies with an intention to improve their chances of successfully fulfilling a recovery plan in legal reorganisation proceedings. The study reports results of financial and non-financial performance views gathered from entrepreneurs and administrators of the 25 small Finnish companies that were interviewed. Companies| financial entrepreneurs than the administrators. However, both the entrepreneurs and administrators had relatively high non-financial performance views. The data have been collected in Finland in 2008–2009.

Keywords: BSC; balanced scorecards; performance measurement; optimism; business reorganisation; small and medium-sized enterprises; SMEs; performance views; recovery plans; legal reorganisations; financial performance; non-financial performance; entrepreneurs; administrators; Finland; management; enterprise development.

DOI: 10.1504/IJMED.2010.037564

International Journal of Management and Enterprise Development, 2010 Vol.9 No.4, pp.364 - 384

Published online: 17 Dec 2010 *

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