ABSTRACT
The balanced scorecard is a system used for planning and management to make sure business operations are aligned with the organization's vision, mission, and strategy. It is used to monitor performance against goals. The balanced scored is used by for-profit and nonprofit organizations alike as a performance measurement framework that adds strategic nonfinancial performance measures to traditional financial metrics to give managers and executives a more "balanced" view of organizational performance. The balanced scorecard is not a piece of software. Unfortunately, many people believe that implementing some form of software is the same as implementing a balanced scorecard. Balanced scorecards should be designed aligning the organization's mission and vision, to the strategy, to objectives and specific actions that helps management gauge progress. Metrics should be developed carefully, by those who know the organization well, and select those indicators that will provide hindsight, insight, and foresight.
