BALANCE-BASED PERFORMANCE APPRAISAL SCORECARD BASED PERFORMANCE ASSESSMENT IN THE COMPANY

Abstract

This article discusses the utilization of the Balanced Scorecard as a performance evaluation method. Generally, performance assessments often concentrate solely on a company's financial information. By employing the Balanced Scorecard, a company can be more effective in conveying its business strategy and establishing goals to achieve its vision and mission, leading to strategic changes and improvements for optimal performance within the organization. The aim of this research is to explore performance evaluation using the Balanced Scorecard method in companies. The study adopts a literature review as its research approach. The findings indicate that companies implementing the Balanced Scorecard and analyzing it from four perspectives can observe progress in achieving competitive advantages. Consequently, companies can attain their set vision, mission, and strategies with a more measurable performance assessment.

Key words: Balanced scorecard, performance assessment, company