Developing Balanced Scorecard: Case of Three Construction Firms of Small Size

The article develops balanced scorecard (BSC) for three Indian construction firms of small size. All three firms could successfully implement BSC and realize benefits such as translating strategy into performance measures, tracking performance, cost reduction, revenue increase, and continuous improvement. The top management teams in all the firms were committed to the implementation of the BSC, and one member of the top management team was assigned a full-time responsibility for implementing it. There is a difference in choice of metrics for large and small firms in total number and types of metrics.