The world market is changing everyday thanks to the development of technology and affects the business of companies from various angles, regardless of their size. One of the consequences of rapid development is increasing competition, which leads to the emergence of companies that offer products of higher quality and lower selling prices. The goal of every company is to survive in the market and preserve its market share or increase it, and in order to achieve this they must adapt to market conditions and the increasingly demanding wishes of customers. For a company to stand out in the mass of other similar providers, it must pay great attention to the quality of its business, but also the products or services it offers. The importance of investing in quality is also reflected in the level of profit through the reduction of production costs and increase in revenue, but also raises the business reputation of the company. In addition to quality as an important factor in business, it is important to focus business on monitoring and development, not only financial results, but also other aspects such as intangible assets, human resources, internal processes, customer relations and company culture. To effectively manage this, it is necessary to use various tools, methods and techniques by management, and as one of the methods for monitoring business performance stands out a "Balanced Scorecard" (hereinafter "BSC"). The BSC enables a balanced connection and measurement of tangible and intangible factors through four different perspectives: the client perspective, employee learning and growth, internal processes, and the financial perspective. It also enables the implementation of business strategy and goals and provides a concise overview of the state of the company and provides the information needed to make important decisions.