A Balanced Scorecard (BCS) is a strategic planning tool used by upper management at an organization to align business activities with the vision and strategy of the organization. If you are looking to grow, make changes, or address current issues in your organization, this is an excellent tool for setting measurable, attainable goals and using metrics to determine the success of your organization in reaching those goals.
The BSC is used as a system to benchmark and measure financial and non-financial performance metrics. This allows an organization to view itself from four perspectives: Financial & Shareholder, Customer Value, Internal Operations, and Employee & Growth. The scorecard balances these perspectives in the view of long- and short-term goals, as well as internal and external goals. It uses objective and subjective measures to track the success of the organization in reaching these goals.