The document discusses the balanced scorecard system, a performance management tool that splits strategic objectives into four equally important perspectives: financial, customer, internal business process, and learning and growth. It has been successfully used in both the private and public sectors to help organizations understand performance, ensure optimization, and evaluate organizational progress through ongoing monitoring of objectives, standards, and metrics. The balanced scorecard, developed by Kaplan and Norton, links employee job performance to organizational success and shifts the focus from annual performance reviews to continuous process improvement.

4. Private sector

6. Public sector