40+ Best Balanced Scorecard Example & Template [Excel, Word PDF}

The balanced scorecard example is a powerful example strategic management tool that enables one to make strategic decisions to optimize company performance.

A financial tool for tracking the strategic decisions made by the organization according to internal objectives, measurement of performance against specific benchmarks and which should permeate across at least four important factors namely learning & development, financial, customer and internal processes. These four factors form the important aspect of the BSC and hence its balanced scorecard example.

Balanced Scorecard Example

The Importance Perspectives Of Balanced Scorecard

The four perspectives of the BSC are called the key stakeholders, which include the executive staff, the staff of the human resources and the customers. This is followed by the implementation strategy and the performance measure or the quality performance indicator. The strategic planning is then considered.

It is a strategic document prepared by the leaders in the organization on how the organization can achieve its balanced scorecard example goal. The first and the foremost aspect of strategic planning is the setting and defining of the organizational vision.

Setting the vision for the organization can be done by consulting with the relevant experts on the issues. The vision should be in alignment with the vision of the key stakeholders and it should be reflective of the current situation and future goals of the organization. Once the vision is decided, the next step in the balanced scorecard example involves the assessment of the strategy review.

This is done by assessing the current performance against the set goals. There are different types of metrics that are used here like the performance indicators kpi’s, which measure the productivity and progress of the employees, customer satisfaction measures, which are meant to measure the satisfaction level of the customers and internal measures such as the key performance indicators.

The financial perspective of the balanced scorecard example is done by analyzing the financial data that is usually analyzed by the CEOs. It mainly focuses on the internal processes of the organization such as the flow of cash, the allocation of resources, the use of technology and the inventory.

The analysis here largely focuses on how well the CEO is able to understand the financial data that comes out of the company. This is an important aspect of the balanced scorecard example because if the CEO cannot manage to understand the data, then he cannot effectively plan and implement the strategy or the measures.

Another perspective of the balanced scorecard example is the process perspective. Here, strategic plans are analyzed on how they will affect the performance of the company.

The strategies that are developed here are meant to align the organization’s activities with the identified goals and the strategies need to be reviewed periodically. Processes are then developed that will help in the achievement of the identified goals.

The strategic perspectives also come into play when we talk about the balanced scorecard example. In this case, strategic planning is primarily defined as a set of activities that support the accomplishment of the objectives. When these objectives are realized, there will then be the creation of a strategy map. This strategy map will then be responsible for driving the business towards its goal.

However, the process that is involved in achieving the purpose may include different perspectives of the development of the strategy map. Some of the perspectives that come into play when planning and executing a strategy are as follows: the process perspective, the impact on the staff, the customers and the organization as a whole and the investment perspective.

Strategic planning is very important. It is what provides the link between the strategy and the tactical objectives that have been identified. If one fails to form a strategy, then the implementation will be ineffective. It will only be realized when negative external outcomes occur. This then means that the scorecard has provided feedback on the performance of the organization. If the scorecard shows that strategic planning has been ineffective, then the management needs to determine why the strategy was not properly implemented.

Balanced Scorecard Example Excel

In addition to the strategic planning perspective, the balanced scorecard example excel also includes the financial data perspective. This is because the financial data is considered to be a part of the organizational decision making process. When dealing with the financial data, the three primary perspectives are necessary in order for the business to effectively measure performance.

Balanced Scorecard Example PDF

Balanced Scorecard Example PPT

These perspectives are cost, the profit margin, and customer satisfaction. Once these three perspectives are measured, then the managers can determine whether or not they need to revise their strategies.