ABSTRACT
The balanced scorecard provides a method for the organization to systematically consider what it should do to develop an internally consistent and comprehensive system of planning and control. A lack of good costing information can become very costly in a world of intense and global competition. An activity can be defined as a number of connected tasks relating to, for example, order administration or quality control. Organizations are now shifting from the industrial age competition to the information age competition. The financial control system was developed during the industrial age to facilitate and monitor the allocation of financial and physical capital. The balanced scorecard translates an organization’s mission and strategy into tangible objectives and measures which represent a balance between external measures for shareholders and customers and critical internal measures of business processes, innovation, learning and growth. Excellent customer performance derives from processes, decisions and actions occurring throughout an organization.
