Introduction A balanced score card is a tool used by senior management to measure organizational progress in attainment of set goals and objectives (Smith 2007, p.166). This does not imply that other tools cannot be used to measure performance and therefore, management is at liberty to use other tolls even where balanced scorecard has been used. A balanced score card focuses on four areas namely financial, internal processes, customer as well as learning and growth (Schniederjans 2007 p.163). These are also known as the four legs of a balanced score card and without any of them, the whole system is incomplete. Financial perspective enables a firm measure where they want to be in terms of finances and the image that they create to the shareholders. The firm main financial areas of concern are operating income and return on investment (Matthews, 2002, p.107). Customer perspective focuses on serving customers in a satisfactorily manner and the image that the firm portrays to the customers. Internal business processes focus on how the firm can improve its internal processes and operations in order to achieve efficiency while learning and growth focus on how can the firm can improve on the skills and abilities of the employees. This paper will discuss on how a balanced score card can help management in developing new organizational goals, how to integrate corporate vision and values with the four perspective of a balanced scorecard. In addition, the paper will also look at how the scorecard can be used to communicate organizational goals to employees and the role played by the compensation mechanism. Development of New Goals for UNUM Corporation by Chairman and Chief Executive The chairperson and chief executive of UNUM realized that their goals by then were not sufficient to achieve success in the organization. He therefore focused on achieving goals that are more meaningful by engaging balanced measures that would incorporate the interests of all the parties who had a stake in the organization. He realized the importance of teamwork in achieving meaningful goals and therefore formed a team of thirteen senior managers who were to engage in the process of designing and implementing balanced goals and measures. A balanced scorecard was to be used and the four legs of a balanced score card were the focal point. The chief executive therefore informed his team that he wanted them to develop a customer scorecard, a financial score card and an employee productivity score card. He then acknowledged the importance of education and knowledge and gave the team ample time to learn about the balanced score card since it was a new concept (Hannabarger, Buchman and Buchman, 2007, pg. 9). James Orr therefore sought to develop new goals by use of a balance scorecard that has four different but closely integrated aspects and failure or negligence on one aspect might lead to business failure. Relationship between Development of Corporate Vision, Corporate Value and Balanced Score Card UNUM has a vision to achieve leadership in business. Integrated in the vision is the desire to serve the customers in a satisfactorily manner and have therefore incorporated in their values aspects that will make customer satisfaction a reality. They therefore intend to respect their customers and deliver what the clients want as well as what they promise to deliver. To assess their efficiency in c