Keywords
Strategic management
Performance Management
How to Cite
Abstract
This paper aims to examine the Balanced Scorecard concept and present a theoretical overview of
the notion. The concept of the Balanced Scorecard, which is still in its early stages of development, has garnered a
lot of attention recently due to its ability to select relevant metrics for assessing a company's overall performance. It
overlapped with the shortcomings of the traditional performance assessment approach, which evaluated
performance exclusively using financial metrics. Information was gathered from a range of publications, periodicals,
and websites. The conclusion is that the balanced scorecard is an all-inclusive and adaptable approach for
managing and measuring performance that takes into account every facet of a business and is guided by strategic
orientation and the external competitive environment. Under a balanced scorecard, perspectives and measurements
can vary from industry to industry, company to firm, or in accordance with an organization's strategic objectives,
vision, or mission
References
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