Introduction The Balanced Scorecard is a strategic planning and management system developed by Dr. Robert S. Kaplan and Dr. David P. Norton in the early 1990s. Their goal was to provide organizations with a clear understanding of what to measure to improve performance and outcomes (Balanced Scorecard Institute 2014). The Balanced Scorecard is a framework that allows an organization to measure performance and compare it to the organization's strategic objectives and goals (Kinney and Raiborn 2013, 10). Purpose of the Balanced ScorecardThe Balanced Scorecard uses short- and long-term internal and external tools. and financial and non-financial measures to evaluate performance. Management can analyze these measures and compare them to the organization's goals (Kinney and Raiborn 2013, 11). The Balance Scorecard allows managers to analyze a company from four perspectives: customer perspective, internal perspective, innovation and learning perspective (learning and growth perspective), and financial perspective (Kaplan and Norton Jan/Feb 1992, 72). Each perspective has objectives and measures that help develop the Balanced Scorecard. Customer Perspective Every organization should ask itself, “How do customers see us?” Most organizations mention their dedication to serving their customers in their mission statement. The Balanced Scorecard, through the customer perspective, requires management to break down its overall customer service mission into four specific measures: time, quality, performance and service, and cost (Kaplan and Norton Jan/Feb 1992, 72-74 ). “Customers must believe that when a product or service is purchased, the value received is worth the price paid” (Kinney and ...... half of the paper ...... obias Hahn, Stefan Schaltegger and Marcus Wagner 09/2002. "The Balanced Sustainability Scorecard: Linking Sustainability Management to Business Strategy and the Environment" 11 (5): 269-284. Kaplan, Robert S. and David P. Norton, January/February 1992. " The Balanced Scorecard: Measures that Drive Performance". Harvard Business Review 71-79. Kinney, Michael R. and Cecily A. Raiborn 2013. Cost Accounting: Foundations and Evolutions, Cengage Learning. Mehta, Foram Understanding the Disadvantages of a Balanced Scorecard, August 12. Accessed February 2014. www.buzzle.xom/articles/understanding-the-disadvantages-of-a-balanced-scorecard.html.Paranjape, Bhagyashree, Margaret Rossiter, and Victor Pantano of performance: successes, failures and the future: a review of measuring business excellence". 10 (3): 4-14.