The present bachelor`s thesis deals with the strategy model of the balanced scorecard (BSC) and its suitability for the Austrian Ministry of Finance. Beginning with origin and background information, the perspectives of the balanced scorecard are depicted. The description of the basic assumptions is followed by a presentation of the architecture of a BSC, based on vision and strategy. Subsequently the development of a BSC is explained. Furthermore, the advantages and disadvantages of the BSC are illustrated. The next chapter is concerned with the application and characteristics of the balanced scorecard for public administration. This is followed by explanations of the application of the BSC in the Ministry of Finance. In the conclusion the author tries to answer the research question and to give a summary.