The growing complexity and diversity of today's businesses have forced managers to look for continuous and effective learning. Learning process increases organization's adaptability and helps organization to conduct an appropriate combination of operational effectiveness and strategy. In this context, identifying of performance indicators to guide organization towards long-term goals is crucial. Use of system dynamics to study each phenomenon’s behavior -including balanced scorecard improvement process- results in increased learning and better understanding of affecting factors of business’s success. In this research, limitations of balanced scorecard usage are discussed in system perspective, and application of system dynamics and games theory is introduced as a tool for increasing the effectiveness of the balanced scorecard. Quantifying of affecting factors of organization’s success, using system dynamics, helps the industry to adopt the model better. Furthermore, every aspect of balanced scorecard is considered – through the approach of cooperation games in game theory- as a player, and each player’s Shapley value in coalitions is determined. Finally, according to obtained values, the best strategy combination is chosen for implementation.