The balanced scorecard (BsC) is a strategic performance management tool that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor.

The characteristic of the Balanced Scorecard  is the presentation of a mixture of financial and non-financial measures each compared to a ‘target’ value within a single concise report.

Four “perspectives” were proposed:

• Financial:  ”How do we look to shareholders?”
• Customer:  ”How do customers see us?”
• Internal Business Processes:  ”What must we excel at?”
• Learning and Growth:  ”Can we continue to improve and create value?”.

Strategy Map for an organisation is the key first step in the balanced scorecard methodology. It involves a clear definition of business strategies.