The Balanced Scorecard is a performance metric used in strategic management that identifies and improves internal business functions and their external outcomes. It measures performance across four perspectives: financial, customer, internal processes, and learning and growth. Data collection provides quantitative results that managers use to make better decisions. The Scorecard translates a company's strategic goals into objectives and measures across the four perspectives to monitor performance and drive improvement initiatives. It can be implemented at different levels within an organization, including the department level.