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Balanced Scorecard (BSC) + Strategy Map – example template Excel spreadsheet

The Balanced Scorecard system connects the dots between big picture strategy elements and more operational elements. Strategy elements includes: mission (our purpose), vision (what we aspire for), core values (what we believe in), strategic focus areas (themes, results and/or goals). Operational elements includes: objectives (continuous improvement activities), measures (or key performance indicators, aka KPIs, which track strategic performance), targets (our desired level of performance), and initiatives (projects that help you reach your targets).

Free Balanced Scorecard + Strategy Map - example template Excel spreadsheet
Balanced Scorecard (BSC) – template Excel spreadsheet

How is the Balanced Scorecard useful?

The Balanced Scorecard tool, known as BSC, was developed in the 90s by the Americans Robert Kaplan and David Norton.
Its purpose is to develop a strategic plan and measure a company’s performance in addition to accounting and financial indicators. Its creators observed that the economic value and financial result happen when combined with the work of determining factors, such as process efficiency, customer satisfaction, people development, among others, in a way that aligns themselves with an organization’s strategic vision.

The Balanced Scorecard (BSC) is a strategic planning and management system that organizations use to:

– Communicate what they are trying to accomplish
– Align the day-to-day work that everyone is doing with strategy
– Prioritize projects, products, and services
– Measure and monitor progress towards strategic targets

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The BSC suggests that we view the organization from four perspectives, and to develop objectives, measures (KPIs), targets, and initiatives (actions) relative to each of these points of view:


Often renamed Stewardship or other more appropriate name in the public sector, this perspective views organizational financial performance and the use of financial resources.


This perspective views organizational performance from the point of view the customer or other key stakeholders that the organization is designed to serve.


Views organizational performance through the lenses of the quality and efficiency related to our product or services or other key business processes.


Views organizational performance through the lenses of human capital, infrastructure, technology, culture and other capacities that are key to breakthrough performance.

Strategy Map Example

The BSC Strategic Map

The strategy map is a graphical representation that consists of a summary of the objectives for each Balanced Scorecard theme.

Click here to download our Free Balanced Scorecard Template Example

Combine this free template with other tools:

Porter’s five forces
SWOT Analysis
4P’s of Marketing
Cash flow statement
Business Model Canvas

Click here and learn more about BSC (

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