A balanced scorecard is a performance measurement approach that involves:

A balanced scorecard is a performance measurement approach that involves linking financial and

non-financial performance measures to organizational goals. According to the web search results, a

balanced scorecard is a strategic planning and management system that organizations use to

communicate what they are trying to accomplish, align the day-to-day work with strategy, prioritize

projects, products, and services, and measure and monitor progress towards strategic targets1. A

balanced scorecard focuses on four key perspectives: financial, customer, internal business process,

and learning and growth2. Each perspective includes objectives, measures, targets, and initiatives

that are aligned with the organization’s vision, mission, and strategy3. By using a balanced scorecard,

organizations can balance the short-term and long-term objectives, the financial and non-financial

outcomes, and the internal and external stakeholders.