The document discusses the balanced scorecard approach to performance management. The balanced scorecard translates an organization's vision and strategy into objectives and measures across four perspectives: financial, customer, internal processes, and learning and growth. Objectives and measures are developed for each perspective, and they are linked through cause-and-effect relationships. The balanced scorecard balances both short and long term objectives, financial and non-financial measures, lagging and leading performance drivers, and internal and external performance perspectives to provide strategic feedback to managers. Developing a balanced scorecard model involves defining objectives and performance indicators for each of the four perspectives. Making the balanced scorecard successful requires aligning strategies, communicating objectives, and linking measures to strategic initiatives.