Modern businesses depend upon measurement and analysis of performance. Measurements must derive from the company's strategy and provide critical data and information about key processes, outputs and results.
The balanced scorecard is a management system that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results.
Most traditional organizations measure their performance by the ‘financial Indicators’ which tells the story of past events only. This is highly inadequate for todays information age companies, because investments in long-term capabilities and customer relationships are equally critical success factors in the present age.
Therefore the balanced scorecard suggests that we view the organization from four perspectives
1) Learning Indicators     2) Process Indictors
3) Cutomer Indicators     4) Financial Indicators