Balanced scorecard

The balanced scorecard is a measurement system that can be used to monitor and enhance performance within the financial, customer, internal business processes, and learning and growth segments of a business. The assumption behind this system is that a business must perform well in all four of these segments in order to enhance its overall performance. The strategy and tactics of the management team should also be aligned with the information being tracked in the balanced scorecard. The concept differs from more traditional measurement systems, in that it incorporates a variety of non-financial measurements.