Discipline: Economics, Business
The paper attempts to present a detailed explanation of what a balanced scorecard (BSC) is, inclusive of the different BSC models and its possible uses in different areas or fields of study. These objectives were addressed through documentary analysis. There was much searching for secondary data which were provided by books, journals, lectures, case studies, unpublished theses, and websites. The BSC, which is an integrated set of performance measures derived from company's strategy, has several models, with that of Kaplan's and Norton's as the most popular. The four perspectives in this model are interrelated in the following manner: learning is necessary to improve internal business processes; improving business processes is necessary to improve customer satisfaction; and improving customer satisfaction is necessary to improve financial results.
ISSN 0116-7111 (Print)
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