Evaluating the revolutionary process of performance management based on balanced score cards BSC

Contemporary organizations face complicated and changing environment. Fast changes of technology and influx of different management solutions to improve organizations’ condition have made the managers to face several challenges. In such environment, performance evaluation and management would be very demanding; since the evaluation of organizations only based on profit, loss and financial balance sheet makes it astray. The reason is not paying attention to organizational assets, informative assets and human assets. In this regard the creation of balanced score cards (BSC) helped the managers to measure the performance in four aspects i.e. Financial, customer, business process, growth and learning. This led to transition and understanding of mission, vision, strategy, and performance expectations to all internal and external stakeholders of organizations. This study by the means of descriptive-analytical method, reviewed the four basic dimensions of balanced score cards and investigated the revolutionary process and development of these cards within three generations

balanced score cards – technology developments – performance – strategic