The balanced scorecard has been used by many companies over the years. It has been modified and changed through time. Back then, it was only used to measure the performance of the company in terms of certain markers and evaluation methods. This motivates managers to have an inclusive view of the company ‘s goals and objectives. It does not only focus on the financial goals but it also includes the customer ‘s perspective, the employee ‘s view and the marketing strategy that will be used to improve the management system. In addition, various programmers have worked hand in hand to create a software that will help marketing experts in their balance scorecard needs.
In the early years of balance scorecard approach, it just consisted of plain tables that were labeled financial, customer, learning and processes. It just requires finding five good measurements of each of these concepts. However, the managers may not always have the same viewpoint that is why its successful implementation is not achieved. Then in the mid 1990 ‘s, an improved balanced scorecard was introduced. However, in this type of scorecard the managers would be the one to select the objectives which they are going to plot on a certain strategy map. This shows how the various perspectives affect each other and how to obtain the success of the objectives by identifying the weak points and altering them. Presently, the latest balanced scorecard has now emerged as a software. This already involves large corporations and organizations who would want to incorporate scorecard approach in their management system.