Balanced Scorecard Model in the Banking Sector

Viktorija Stojkovski, Blagoj Nenovski

Abstract: The performance measurement system aims to keep the individuals and organizational units in the company in line with the previously established plan. In order to set a long-term strategy of the company that will enable competitive success, it is necessary to use a tool or approach that will enable performance measurement and will provide a clear picture of the overall operation of the company for both financial and non-financial purposes. Hence the subject of this research, and that is the Balanced Score Card model, through which executives in the company use it for communication, information and leraning system. The purpose of this research is through analytical method to make a descriptive analysis of the balanced score card model, ie its application in the banking sector by proposing appropriate strategic activities, goals and key performance indicators for each of the perspectives.

Keywords: balanced score card, performance, banking sector, strategy