Journal of Economics, Finance and Management Studies ISSN (print): 2644-0490, ISSN (online): 2644-0504 Volume 5 Issue 09 September 2022 Article DOI: 10.47191/jefms/v5-i9-34, Impact Factor: 6.274 Page No. 2792-2804 JEFMS, Volume 5 Issue 09 September 2022 www.ijefm.co.in Page 2792 Balance Scorecard Strategy and Financial Performance of Selected Food and Beverage Industry in Nigeria Imeokparia Lawrence 1 , Egboh Vivian 2 1,2 Department of Economics, Accounting, and Finance, College of Management Sciences, Bells University of Technology Ota Ogun State Nigeria. ABSTRACT: The study examined the effect of balanced scorecard strategy (learning and growth perspective, customers’ perspective) on the financial performance of five (5) selected food and beverage industry domicile in Lagos State. A survey research design was adopted for this study. One Thousand, five Hundred and Seven (1,057) copies of structured questionnaire were distributed to obtain information from the selected respondents from the companies. And a proportionate stratified sampling technique was used to select Four Hundred and Ten (410) staff for the study. Both descriptive statistics (Table, frequency, Mean Items Score) and inferential statistics (Simple Linear Regression) were adopted as data analysis techniques. While descriptive statistics were used to analyze the demographic information, simple regression analysis was used to test the two stated research hypotheses at a 5% level of significance. The result of hypothesis one (β 1 = 0.096; R 2 = .935; F = 5843.527; P-value =0.000) revealed that the learning and growth perspective in the balanced scorecard has a positive and significant effect on the financial performance of selected food and beverage Industry. In addition, the result of hypothesis two (β 1 = 0.071; R 2 = .581; F = 567.005; P-value =0.000) indicated that customers' perspective in balanced scorecard has a positive and significant effect on the financial performance of selected food and beverage Industry. The study thereby concluded that a balanced scorecard (measured by learning and growth perspective; customers' perspective) has a significant effect on financial performance of food and beverage Industry. The study recommended that the management of selected food and beverage Industryshould not relent in applying both learning and growth perspectives; and customers' perspectives to further improve financial performance. KEY WORDS: Balanced, scorecard, Strategy, Financial, Performance 1.0 INTRODUCTION The ultimate goal of any organization from both local and international perspectives is to achieve the organization’s goals through performance. By definition, performance implies the actual results of a firm or organization as measured against its intended outputs. The intended result can be perceived as the future target of the organization, which is the essence of being in a business. An organization’s performance is peculiar to the investors and the stakeholders (Meduoye and Mba, 2019). As a result, scholars and practitioners have developed several models targeted at facilitating an organization's ability to confidently measure performance. Financial performance refers to an organization's capacity to adapt or employ assets from its core method of operation to generate profits (Arben, Arbana and Muhamet, 2016). It's also used to assess a company's overall financial health over a while, usually a year. This emphasized that an organization's financial performance is critical and that every business should aim to improve its financial performance. To improve the financial performance of an organization, one group of traditional performance measures are financial and accounting based, and these were based on the assumption organization performance is only measure in quantifiable units. Income or sales from operations, rate of return on investment, and residual income are some of the financial indicators used (Olasunkanmi and Asaolu, 2019). Regardless of the advantages of financial and accounting criteria in evaluating performance, the fact that they were cost-based and backward-looking provided no impetus (Manzoni and Islam, 2009). Financial experts have recently adopted a balanced scorecard for assessing performance. A balancing scorecard is a compilation of a company's various performance indicators, including customer service, innovation, and learning, as well as internal processes. (Manzoni and Islam, 2009). The number of customer complaints resolved, the number of return customers, service delivery efficiency and quality, and job skill level change are all examples of customer service performance measures. Customer happiness can also be compared to that of competitors via customer surveys, but this is a less common practice. When assessing internal process performance, the length of time is taken into account. By creating indicators