Introduction For modern organizations, it is essential to have methods for collecting data and making decisions based on the strategic objectives that lead to the achievement of competitive advantage. The balanced scorecard (BSC) represents strategic planning and management that companies use for communicating their intended accomplishments, aligning everyday procedures with the formulates strategy, monitoring progress, and prioritizing projects. In general, BSC is used for measuring and providing feedback to organizations, with data collection being crucial to the provision of quantitative results. This data is interpreted by managers and executives who make further decisions for an organization. The concept of BSC was first introduced by Kaplan and Norton who received great praise for their research. The key principle behind the concept lies in finding balance across all functions of an organization since the majority of companies focus on financial measures such as growth and profitability, forgetting about such sectors as internal processes, customers, and organizational capacity. By looking at business across four perspectives (see Figure 1), organizations can understand causal relationships between investment and the financial outcome can be identified, measured, and managed. Therefore, BSC is not a regular scorecard but a methodology that enables organizations to look at both financial and non-financial objectives that are associated with strategic priorities. This means that organizations are forced to think about how they can measure their objectives and identify projects that will help drive those objectives. Figure 1. Balanced scorecard perspectives (“The Four Perspectives in More Detail”). To understand BSC further and proceed with its critique, it is essential to understand the four perspectives involved in it. The financial perspective is linked to the range of monetary objectives and measures that organizations use for answering the question of how a business looks to its shareholders. Usually, these objectives are the easiest to define and measure. Although, creating a financial objective, such as Improve Profit, is not enough for helping organizations understand how they can achieve these goals. The customer perspective is concerned with measures that are directly related to companies’ clients with a specific focus placed on their satisfaction. Organizations should answer the question of how their clients see them understand what they want and what can be done to fulfill their desires. The perspective of internal processes is associated with objectives and measures which determine how well an organization is running as well as whether the offered products and services align with what customers require. This means that some of the costs can be reduced by streamlining some of the internal processes. Lastly, the organizational capacity perspective is associated with measures and objectives that show how workers within a company perform and how their skills align with the existing infrastructure and technology. Nevertheless, despite the range of benefits provided by BSC, the focus of the current discussion will be placed on determining the limitations of the principle. General Issues of Balanced Scorecard Use Generalization Over the last two and a half decades,