A business should have plans. The plans should set into short term plans, medium term plans and long term plans. Those plans should be perfectly executed. Soon after the plan has been executed, it should be evaluated. This is a circle that should be done in a company to ensure that the business will continue. To help the manager evaluate the plans, they should have the Balance Scorecard.
The Balance Scorecard contains much information which will be needed to measure the effectiveness of the plans. The targets will be set quarterly, and by using the card, the manager can see how effective the plan is. If the plan is executed perfectly and it has the effective result, they can continue it. But if it goes the other way, they should evaluate it and change it with the new plans.
The Balance Scorecard will be useful for the managers to control the progress of the company. They can measure the reality, the facts that happen in the field and compare it to the plans. If it doesn’t match, there must be something wrong. So, they can make a direct evaluation in order to make the fast action before the mistakes give bad impacts to the company. This template below is a sample of Balance Scorecard for general company. You should create your own to meet your own company requirement. Try to download the file to give you ideas how to start your own excel file.