The area of corporate governance encompasses the corporate legal framework and decision-making practice in supervisory boards and corporate governance, various aspects of finance, laws, compensation systems and control systems. The development of good corporate governance is a prerequisite for companies that want to prosper in the markets. Today, companies face many obstacles in developing a system for measuring the performance of their business. In order to facilitate this process, there is a need for a system that sets the balance between the financial indicators and the drivers of future impacts, by guiding the power of intangible assets and assisting them in implementing different strategies. The Balanced Scorecard is a tool developed in response to request setup, and is a combination of communication tools, metering systems, and strategic management systems. It represents a carefully selected set of measures taken from a company's strategy that can be quantified and contributing to further development and improvement as such. It is based on four basic perspectives that are interrelated and of equal importance. This method requires the involvement of the whole enterprise in achieving the goals set, not just the administration. One company that already applies such perspectives cites numerous benefits such as better management of the company as a whole, better monitoring and implementation of the strategy, achievement of better financial results, etc. This research strives to present the importance of Balanced Scorecard and its usage in practice, with the stated advantages and disadvantages. The aim of the research is to present Balanced Scorecard as a tool that can improve overall business of Croatian entrepreneurs by applying the practice of multinational companies as an example of successful implementation and management of business processes.