Balanced Scorecard

Balanced Scorecard is a performance management tool, which is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. It is a performance metric used in strategic planning to identify and improve various internal functions of a business and their resulting external outcomes. Modern balanced scorecard are significantly improved – being more flexible to suit a wider range of organisational types and more effective as design methods have evolved to make them easier to design, and use.