The purpose of this study is, by analyzing the whole procedure for implementing a BSC system, to provide a best practice for not only companies which would initiate the BSC in the near future but also other companies which have been already experiencing difficulties in driving cost-effective results from the BSC. In order to fulfill the purpose, a Korean manufacturer (‘A’ Company), which is known for adopting and implementing the BSC system successfully, is taken as a benchmark model. In this study, Company A’s business history and characteristics as well as the background factors for applying the BSC are included. Also an analysis of Company A’s BSC implementation procedure is included. The analysis mainly consists of two sections. The first part deals with articulating strategy, selecting KPI, and building a BSC system. The second one deals with linking compensation to BSC measures.