Based on my understanding after reading a few books and articles regarding Balance Scorecard. It is actually a strategic system that an organization can adapt and adopt to measure the success of their business with the focus to see the magnitude and actual value created at the present time.
It need to be balanced at four focus areas: such as Financial perspective, Customer perspective, Internal Business Process and Learning & Growth.
It can be summarized as "Balanced Scorecard is a tools for business excellence".
As such, the current trending for most of the top 500 Fortune companies used the 3rd generation Balance Scorecard to measure their current value creation for the entire organization based on Business Intelligence (BI) tools.
