The Balanced Scorecard is a management measurement system that provides organization a process through which their vision and strategy can be translated into action. Feedback is provided through both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into a fully functional operating plan. It helps to focus the daily actions of employees in a collaborative fashion towards the achievement of organization strategies.

With the balanced scorecard a more comprehensive measurement tool is made available. This is achieved by adopting a balanced perspective as fostered by considering the customer, internal business/organization process and learning and growth aspects besides the traditional focus on financial goals of most contemporary measurement tools.