This is a free Balanced Scorecard template that helps organize the most relevant information to the organization, whether financial or non-financial, in a way that is both streamlined and actionable, saving valuable financial resources in the process. The template is a 100% customizable and you can edit every aspect of it with a few simple clicks in MyDraw.

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Nevron NDTX

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How can we best put into practice the Balanced Scorecard?

A Balanced Scorecard is used to bring an organization’s strategy to life and to communicate the strategy across the organization. Throughout the process, it focuses on four distinct perspectives that are uniquely connected:

  • Financial goals- “What financial goals do we have that will impact our organization?”
  • Customer goals- “What things are important to our customers, which will, in turn, impact our financial standing?”
  • Internal goals- “What do we need to do well internally, in order to meet our customer goals, that will impact our financial standing?”
  • Education goals- “What skills, culture, and capabilities do we need to have in our organization in order to execute on the process that would make our customers happy and ultimately impact our financial standing?”

The Balanced Scorecard is then breakdown into:

  • Objectives- high-level goal in mind
  • Measures- allow you to see if you’re meeting your goals
  • Initiatives -the places you’re spending money or putting forth the effort to improve your performance.
  • Targets- the audience
  • Action items -help you delegate out small jobs, allowing you to complete your initiatives