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Limitations of profit-measurement approach

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Reference no: EM13558085

Balanced scorecard

Recent articles have focused on summary information for running a business and on a 'balanced scorecard' approach, using a number of performance measures.

Required

Explain the following.

a) The arguments for using the profit measure as the all-encompassing measure of the performance of a business

b) The limitations of this profit-measurement approach and of undue dependence on the profit measure

c) The problems of using a broad range of non-financial measures for the short- and long-term control of a business

Reference no: EM13558085

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