Balanced Scorecard Examples
Effectively communicate, implement and manage your organizational strategy with visual templates
- Visualize your organizational strategy in a single page for better communication
- Collaborate in real-time with stakeholders on mapping your projects and initiatives
- Kickstart your projects with pre-made balanced scorecard templates and examples
More Balanced Scorecard Templates and Examples
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Guide and Best Practices
The balanced scorecard is a strategic planning and management system that helps align a business’s activities with its strategy and vision. It also helps with tracking organizational performance and improving the company’s internal and external communication systems.
How to Create a Balanced Scorecard
- When you are creating a balanced scorecard, it’s important to start with identifying the strategy, vision, mission, values and the partners of your organization.
- Identify the customer requirements and the company’s value proposition by creating different aspects of the company strategy like strategic themes and results.
- Break down the strategic themes you have identified into strategic aims. Categorize these aims based on Strategic Theme Level and sort them by Perspectives. And connect them in cause-effect linkages for each Strategic Theme.
- Create an enterprise-wide strategy map that portrays how the company brings value to its customers and stakeholders.
- Create performance measures for the strategic aims you identified earlier. Also decide expected targets and create benchmarking and baseline data.
- Create strategic initiatives and assign tasks and responsibilities to team members. Share the strategy map you created with them with an edit/ review link or via Slack.
- Implement the process. You can use performance measurement software to gather the relevant data.
- The balanced scorecards used at the enterprise-level should be re-created to fit the smaller business units or departments. And then further cascade them down to individual or team scorecards.
- Evaluate the completed scorecards. Make sure that you are measuring the right things, whether your strategies are working, and whether there are any changes in the environment.