In essence, a balanced scorecard lays out a theory of how the company can take concrete actions to attain its desired outcomes.The strategy should seem plausible, but it should be regarded as only a theory.

Balanced Scorecard

A strategic planning and management system used by organizations to align business activities with the vision and strategy of the organization, improve internal and external communications, and monitor organizational performance against strategic goals.

Company Outcomes

Refers to the results or consequences of a company's strategies and operations, including financial performance, market share, and customer satisfaction.

Strategy

It is a plan of action designed to achieve a long-term or overall goal.