Background and limitations of balanced scorecard introduction in the Russian practice

The article investigates the prerequisites and limitations of the Balanced Scorecard (BSC) in the Russian practice. The article deals with the problems faced by Russian business in the course of implementation of the management system based on the Balanced Scorecard. The basic principles necessary for the successful operation of the system are considered. The authors give guidelines for strategic management bodies on how to implement effectively the Balanced Scorecard. The adoption of these guidelines will help to alter significantly the results of the implementation of the Balanced Scorecard in the Russian reality.