What Is Balance Scorecard (BSC)?
The Balance Scorecard or B.S.C. is a strategic management tool that helps companies measure and achieve their goals and objectives. With its help, a business can develop a continuous improvement culture and retain a balanced approach to managing its operations and projects. Think of a scorecard as a motivation system for the participants to see their immediate progress. This is why organizations appreciate the use of the BSC system for immediate response and/or acknowledgment. The following post contains Best Balance Scoreboard Templates for your help. As we prefer working with MS Office, you need to have MS Excel installed. Read along to learn how you can use, edit, and customize free Scorecard Templates.
Developed by Robert Kaplan and David Norton, the BSC provides a complete and constructive framework for translating an organization’s visions and strategy into tangible outcomes. This helps to organize:
- Clarify their strategy and objectives.
- Align their venture with a vision.
- Measure and track progress in a constructive manner.
- Identify areas that need attention or improvement.
- Make data-driven decisions immediately.
Here is the preview of the Free Balance Scorecard Sample created in MS Excel;
How To Make Your B.S.C. Report?
As the Balance Scorecard is a continuous effort and requires an impulsive response, it is hard to make and upgrade the report daily. Making a BSC report is not an easy task, you would want to invest time into maintaining and updating the progress. Use a ready-made Balance Scorecard Template and invest your time into maintaining, editing, and systemizing your scorecard. A good B.S.C report primarily consists of four perspectives;
- Financial: Focuses in financial performances, such as revenue growth and profitability.
- Customer: Emphasizes customer satisfaction, loyalty, and retention.
- Internal Procedures: Evaluate the efficiency and effectiveness of internal processes.
- Learning and growth: Assesses the organization’s ability to learn, innovate, and improve.
Below you will find our free B.S.C. examples explaining the strategic development step by step.
How To Edit And Download Free Balance Scorecard Samples?
The template for the Balance Scorecard is made using MS Excel. As the templates are ready-made and ready to use. You can download, edit, and use any of the templates that you like. Download the format that you like by clicking the free ‘Download’ button. Open it in your system. Add in your data and you are done!
