In the modern business and organizational environment, particularly as a result of globalization, competition equates performance. To be competitive, organizations must be both strategic and tactical to the nth degree, must be proactive rather than reactive, and must find a way to measure this easily and accurately. One way to accomplish this is through a Balanced Scorecard approach; a tool often viewed as one of the best tools that helps organizations translate strategy into performance. In general the BSA (Balanced Scorecard Approach) allows for a clear strategic and tactical directions for the organization, retains financial measurements in a summation along with their links to performance, and highlights an important and robust measurement system that links and integrates customers, stakeholders, processes, resources, and performance into single measurement strategy. This tool also provides the organization with a tool that takes vision and moves it to strategy, and the conversely, strategy into tactics. BSA supports planning and unites the organization into a more singular vision and common goal. It also allows for both internal and external feedback so that performances and results continue to evolve and improve.
The scorecard is a set of performance measures allowing management a dashboard view of their business. These performance measurements are used to aid the company in setting goals and manage the business's strategic plan. The balanced scorecard model