IntroductionIt has been long recognised that performance measure-ment and management (PMM) is critical for the effectiveand efficient management of any business. PMM facilitateseffective control and correction by reporting the currentlevel of performance, and comparing it with the desiredlevel of performance (i.e., the standard). More importantly,the PMM system also communicates strategic intent and importance to the rest of organisation in terms of what hasbeen measured and, as importantly, by what has not beenmeasured (Magretta and Stone, 2002). To some researchers(e.g., Magretta and Stone, 2002), PMM is more importantthan the mission statement: metrics enable the organisa-tion to convey the strategy to everyone else in terms theycan understand, thus making the strategy concrete andmeaningful.The use of performance measurement and manage-ment systems is frequently recommended for facilitatingstrategy implementation and enhancing organisationalperformance (e.g., Davis and Albright, 2004) – a view thatcoincides with much of the Balanced Scorecard rhetoric