Factors Affecting the Use of Balanced Scorecard in Measuring Company Performance

The paper presents the results from the research on the factors influencing the use of the Balanced Scorecard methodology in measuring company performance in the engineering sector. The primary objective of the research was to verify the importance of using non-financial factors in managing businesses in connection to the use of the Balanced Scorecard methodology and to verify the dependence between the use of the given methodology and the lack of human and financial resources for its usage. The research focusing on the given issue was conducted over a period of six months. The research was based on the hypotheses that were verified with statistical methods using the methodology of a Chi-square test. To identify the factors that hinder the usage of the Balanced Scorecard methodology in the addressed enterprises, the method of standard deviation was used. The main result of the research is a finding that there is a statistically significant relationship between the enterprises considering the non-financial indicators and the use of the Balanced Scorecard methodology to be important. This relationship is confirmed also by the calculation using a test with p = 0.0422. The research verified one of the main research goals, i.e., the importance of non-financial indicators in connection to the Balanced Scorecard concept (BSC). Other hypotheses are related to the issue of the lack of human and financial resources. Using the Chi-square test in these cases once again, the study also found out the existence of the dependence between the lack of these resources and the use of the Balanced Scorecard methodology. The final value p = 0.0446 relating to human resources and the value p = 0.0377 relating to financial sources define the barriers as being important in implementing the BSC methodology into corporate practice. These values confirm other research results related to the barriers of using BSC. The presented paper assesses the research results that confirm the importance of using non-financial indicators and define the barriers that hinder this usage. The research contributed to the extension of the knowledge of the BSC concept that we consider being a modern managerial future-oriented tool and supported its implementation in companies so that they could operate within the framework of sustainable development.