Small companies usually have a simple organizational structure and their management system is controlled by
their leader - which usually is the owner - with the help of few managers (Anderson, Cobbold and Lawrie, 2001).
However, it is important that small companies still have a clearly defined strategy and should be able to measure
their performance in order to survive in the competitive business environment.
Existing literature regarding the application of the BSC in small companies is extremely limited (Anderson,
Cobbold and Lawrie, 2001). This study aims to provide new empirical insights into the use of the BSC by small
companies by conducting a comparative survey of small companies located in the UK and Cyprus.