A balanced scorecard is a performance metric used in strategic management to identify and improve various internal functions of a business and their resulting external outcomes. It is used to measure and provide feedback to organizations. This template is suitable for businesses that need a basic template to get started with the balanced scorecard concept. You can modify fonts and colors and add a logo to create your custom look. There is also room for your budget information. I think that it’s important for companies not to approach the scorecard as the latest fad. I sense that a number of companies are turning to scorecards in the same way they turned to total quality management, high-performance organization, and so on. Depending on the template and the data source that you selected, you create or import the KPIs that you want to use for your scorecard. Then, you can configure each KPI by changing its name, banding method, and actual or target values. • In the situation where a company fails to meet its BSC goals, the goals may be re-interpreted to the current state of affairs either to avoid failure or meet success. Changing acceptance criteria for a BSC is easier than changing the criteria for mechanical parts, and thus the reject rate.