A balanced scorecard “incorporates financial and nonfinancial measures in an integrated system that links performance measurement with a company’s strategic goals” (Weygandt & Kimmel, 2017). It basically seems to be a tool used by a company to ensure they are meeting whatever goals they have set; it ensures this by examining various factors within the company that would affect the goals. For nonfinancial measures, a company might use a customer satisfaction survey to understand what their customers like or dislike and make adjustments to better suit their needs. Another nonfinancial measure could be training employees to strengthen their necessary skills and encouraging morale at work.
Weygandt, J. J., & Kimmel, P. (2017). Survey of Accounting WileyPlus Access Code + Survey of Accounting. Retrieved from http://www.gcumedia.com/digital-resources/wiley-and-sons/2016/survey-of-accounting_ebook_1e.php
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