“…With the ever increasing pace in market conditions only organizations that can evolve and adapt fast to new conditions can survive and prosper. The need for proper design, implementation and utilization of Performance Measurement Systems, is greater than ever for organizations to respond to this challenge (Eccles & Roeser, 2011).The core of performance measurement systems, is the set of measures selected (Ampantzi et al, 2013;Chytas & Glykas, 2011;Glykas et al, 1993a;Glykas et al, 1993b;Glykas et al, 1993c;Glykas et al 1993d;Glykas & Valiris 1992;Pappa et al, 2013;Plakoutsi et al 2013;Sezenias et al, 2013;Valiris et al, 2005;Valiris & Glykas, 2004;Valiris & Glykas, 2000;Valiris & Glykas, 1999a;Valiris & Glykas, 1999b;Valiris & Glykas 1998;Wilhelmij et al 1993a;Wilhelmij et al, 1993b;Xirogiannis & Glykas, 2007). Of equal importance are the relationships that exist among measures and in particular the cause and effect relationships among them ought to be properly specified (De Waal, 2003;Glykas, 2013b;Glykas, 2013c;Glykas, 2013d;Glykas, 2013a;Glykas, 2012;Glykas & Chytas, 2004c;Glykas & Chytas, 2004d).…”