The balanced scorecard method is a framework for operationalizing a firm’s strategic plan by focusing on measurable outcomes based on dimensions of a firm’s performance.
The balanced scorecard is a management system whose aim is to translate an organization's strategic objectives into a set of performance objectives which are, in turn, measured, monitored, and amended where necessary to ensure that the organization's strategic objectives are met.
The balanced scorecard can monitor the strategic decisions taken by the company based on pre-set indicators and which must penetrate through at least four aspects – financial, customer, internal processes and learning & growth.
One of the key points of the balanced scorecard is expanding the prospect's performance evaluation which so far has always been very focused on financial aspects
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