Analyzing the performance of an organization requires the use of indicators. In recent decades, an indicator in particular has highlighted, the balanced scorecard (BSC). Therefore, a type of company specific, private higher education institutions (HEI’s), has received little attention in research in this area, especially in how is the process of applying these indicators. Thus, this study aims to understand how is the balanced score card application process on a private higher education institution. For this, this study drew on research built by authors who discuss this application, in order to develop a theoretical framework, demonstrating how this process occurs. So, theoretical contributions were generated by this study with the analysis of other theoretical contributions of more extensive research, in which they individually could not handle to fill this theoretical gap in the literature.