ABSTRACT
The integration of the several perspectives into a graphical picture has made the Balanced Scorecard a very successful methodology within value-based management philosophy. The chief executive can use a Balanced Scorecard in monitoring the operating performance of an organisation much like a pilot uses a dashboard to fly a plane. Overall the Balanced Scorecard is a framework for cross-functional measurement. The Balanced Scorecard provides a clear prescription as to what organisations should measure in order to ‘balance’ the financial perspective with other non-financial metrics: learning, process, customer and financial. Performance measures or indicators are measurable characteristics of products, services, processes and operations that an organisation can use to track and improve performance.
