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Financial measures alone do not provide enough information to properly manage a business in today's complex environment. Out of this need emerges a tool called The Balanced Score Card introduced by Robert Kaplan and David Norton in 1992. Since then BSC has been hailed as one of the most outstanding business concepts in the past 75 years.

The balanced scorecard enables managers to accelerate continuous performance improvement, facilitate strategic formulation and execution, and strengthen internal and external accountability for creating value.

A Balanced Scorecard typically includes measures in each of the four areas: Financial, Customer, Internal Business Processes, and Learning and Growth. Following is a schematic representation of the system:

	All of these results in revenue growth, cost and assset management
	Efficient internal processes increases customer satisfaction which leads to retention and acquisition
	With better skills, processes take shorter cycle time, better quality and less rework
	A learning and growth perspective enhances employee skills, contributes to employee input which boosts employee morale