Balanced Scorecard: A New Approach to Management Strategy

With the advent of the information age and increased competition, other financial measures to assess organizational performance by analyzing the past are impossible. a change in the system of assessment and management strategy is inevitable. Balanced Scorecard as a performance measurement system, in addition to traditional financial evaluation of the performance of the organization with the addition of three dimensions: customer, internal processes and learning and growing business puts evaluated. this method special attention to the organizationʹs intangible assets, which is particularly important in the present day. This allows the organization to assess its inclusion in the model in question, through monitoring, quality control and awareness of intangible assets, if necessary, take action to repair the weaknesses and compensate for their deficiencies. Balanced Scorecard, has been translating the vision and strategy of the organization to understand, prevent cholera from different interpretations aligning individual and organizational goals to help the successful implementation of the strategy.