The Balanced Scorecard is a strategic performance management tool used by organizations to measure and manage their performance across multiple perspectives. It provides a balanced view of an organization's performance by considering financial and non-financial factors, as well as internal and external perspectives. The Balanced Scorecard translates an organization's vision and strategy into a set of key performance indicators (KPIs) that are aligned with its goals and objectives. It focuses on four main perspectives: financial, customer, internal processes, and learning and growth. By tracking performance in these areas, organizations can assess their overall performance and make informed decisions to improve their strategic outcomes.

Example: 

A company may use a Balanced Scorecard to evaluate its performance. From a financial perspective, it may track metrics such as revenue growth, profitability, and return on investment. From the customer perspective, it may measure customer satisfaction, market share, and customer retention rates. From the internal processes perspective, it may assess process efficiency, quality, and innovation. From the learning and growth perspective, it may monitor employee training, skill development, and employee satisfaction. By analyzing performance across these perspectives, the company can identify areas of strength and areas that require improvement, enabling them to take actions to align their activities with their strategic goals and improve overall performance.