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## Learn How to Create a Balanced Scorecard Using Excel

The Balanced Scorecard is a tool that has helped many companies for over two decades. As of now, it is being used by many firms around the world. Over time, it has evolved and evolved to further assist businesses when it comes to monitoring the health or status of their projects, operations or the entire company. It is being exploited by organizations because it makes it easier for them to keep track of the state of their business in the market. However, there are responsibilities that are associated with the creation of a BSC. The first is to make sure your scorecard is fully updated. This is because there are changes in the trends and movements of the market. The second is to make sure it is well represented visually. You can use tools that allow you to design a corporate BSC but one of the easiest is through Excel. This application will help you learn how to create a balanced scorecard without much trouble because you can take advantage of the additional features it provides.

When you learn how to create a balanced scorecard with Excel, you can use its useful features, including the ability to convert ratings into symbols. The first thing you need to do is format your Excel Balanced Scorecard. Before you decide on the color or appearance of your BSC, you should format the titles, columns, rows and headers. After that, you can continue to make other adjustments like styles, colors and fonts. So if you want to learn how to create a balanced scorecard using Excel, follow the steps given here. First, open a new workbook. Go to the File menu where you can find Page Layout or Page Setup depending on the version you are using. Click after Landscape. Then you can select the font style you want.

After that, you need to provide a title for your BSC. This is usually written in cell A1. So, you can now label and style your columns. Here you label them with objectives, measures, targets and actual percentages. You can also choose to format the edited cells by filling them with a background color and changing the font and its color. Do the same with the next row. Most people want to alternate the format of each row on their scorecard. If you want to do this too, you need to highlight all the rows you are using for your BSC and then select Conditional Formatting from the Format menu. Select “Formula is” from condition 1. In the second box, type “=MOD(ROW(),2)=0” without the quotes. If done, click OK or you can click Format to select other options for the rows.

Write in the four perspectives and later, you can convert a numerical rating scale or percentage rating to a symbol rating. This is possible with Excel. You can check some BSC examples so that you will know how to design a good scorecard for your company.

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