Balanced Scorecard Training
Developing and Implementing an Effective Balanced Scorecard
The Balanced Scorecard BSC is a strategic planning and management system that is used to align business activities to the vision and strategy of an organisation, improve internal and external communications, and monitor organisation performance against strategic goals. The Balanced Scorecard framework translates an organisation’s vision into a set of performance indicators distributed among four perspectives – Financial, Customer, Internal Business Processes, and Learning and Growth.
Balanced Scorecard indicators are maintained to measure an organisation’s progress toward achieving its vision; other indicators are maintained to measure the long term drivers of success. Through the Balanced Scorecard, an organisation will be able to monitor both its current performance (finances, customer satisfaction, business process results) and its efforts to improve processes, motivate and educate employees, as well as to enhance information systems and its ability to learn and improve.
This 2-day training will provide participants with a good understanding of the Balanced Scorecard and its application. At the end of the workshop, participants will be ready to develop and implement an effective Balanced Scorecard within the organisation.
Duration: 2 Days
Executives, Managers and Strategic Planners
- Provide an overview of the background and key concepts of the Balanced Scorecard
- Provide a detailed understanding of the 4 perspectives of the Balanced Scorecard
- Provide a detailed understanding of the step-by-step methodology for developing and implementing a Balanced Scorecard
- Equip participants with the practical knowledge in implementing and developing an effective Balanced Scorecard
- The Origins and Evolution of the Balanced Scorecard
- Why Balanced Scorecard?
- Strategy Development and Execution
- Balancing Financial and Non-Financial, Lead and Lag
- Balanced Scorecard Defined
- Strategy Map Example – Cause and Effect Relationship
- How to Develop an Effective Balanced Scorecard
- Financial Perspective
– Basic Strategic Themes
– Measuring Strategic Themes
- Customer Perspective
– Customer and Market Segment
– Value Proposition
– Core Customer Measures
– Linkage with Financial Perspective
- Internal Business Process Perspective
– Operations Management Processes
– Customer Management Processes
– Innovation Processes
– Regulatory and Social Processes
– Core Objectives and Measures
– Linkages with Financial and Customer Perspectives
- Learning and Growth Perspective
– Human Capital
– Information Capital
– Organisation Capital
– Strategic Alignment of Intangible Assets
– Core Objectives and Measures
– Linkages with Other Perspectives
- How to Implement an Effective Balanced Scorecard
- Common Pitfalls in Developing and Implementing a Balanced Scorecard
- Key Success Factors in Developing and Implementing a Balanced Scorecard
- Case Studies
- Hands-on Workshop
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