What is Balanced score card?

BSC was developed as a framework for measuring organisational performance using a more balanced set of performance measures. A balanced scorecard is a performance metric used in strategic management to identify and improve various internal functions of a business and their resulting external outcomes .BSC maps the performance metrics in four perspectives financial, internal processes, learning and growth, customer’s.

Scorecards can be as different as each corporation or company that uses them. Balanced scorecards means that each department, or category within a department, scores acceptable ratings, or higher, in each category, or in the majority of categories. Think of it as an internal Quality Assurance. Their are many analysis programs out there that measure various fields scorecards.