Performance measurement system has changed a lot in comparison to the past. The measurement results are real just when the comparisons apply between similar items. In traditional performance measurement approach, the most important goals of evaluation is performance measurement while modern approach has focused on evaluated growth and development capacity. Modern evaluation system results in satisfaction improvement, efficiency improvement, and finally improvement in effectiveness of organizational activities. Balanced Scorecard provides quick and comprehensive examinations for top managers. Nowadays, just the organizations can be considered as a leader of their industry which can use the resources better and quicker than their adversaries and by using new methods increase their competitive advantages. In this way, BSC as a new tool in management hands can provide a better competitive situation by better assessment of organizational performance. In this paper we review how BSC emerged and developed during the years.