A balanced scorecard is a table that displays an organization's vision in various departments. It helps the managers of the organization quickly assess its health and success. The balanced scorecards contains several select key performance indicators. A balanced scorecard has several fields that you can fill out to evaluate your organization's current performance and set the direction of your organization. Filling out a balanced scorecard helps you come up with tangible actions to achieve your organizational goals.
Draw a rectangular table with five rows and five columns. Down the first column from the left, in each row starting from the second row, write "Innovation and Learning," "Core Processes," " Customer Satisfaction" and "Financial." Across the top row of the table, in each column starting from the second column, write "Objectives," "Measures," "Targets" and "Initiatives."
Fill all the cells under the "Objectives" column with general goals for each of the categories. For example, write "Reduce Expenses" and "Increase Revenue" beside the "Financial" heading.
Fill all the cells under the "Measures" heading with a tangible way to measure your progress in achieving your target in the "Objectives" cells. For example, write "Cost per product manufactured" or "Revenue per product sold" beside the "Financial" heading.
Move on to the "Targets" column and write a figure that corresponds to each of the items under "Measures." For example, write "$3" for "Cost per product manufactured" beside the "Financial" heading.
Write the steps you will take to achieve your goals under the "Initiatives" heading. For example, write "Increase mechanization in the factory" beside the "Financial" heading, corresponding to the item that says "Reduce expenses."