Introduction
The Balanced Scorecard puts strategy at the heart of your organisation, allowing you to focus 100% of your employees’ effort on the achievement of company objectives. It provides a powerful framework for the rapid and effective implementation of strategy, delivering breakthrough performance improvement.
Highlights of the seminar include:
- Understanding how to use the Balanced Scorecard to drive improved performance
- Building a Balanced Scorecard from scratch
- Aligning your organisation around commons goals
- Stimulating activities and discussions
- Creating a personal action plan to drive performance improvement within your organisation
Objectives
After attending this seminar, delegates will be able to:
- Translate vision and strategy into practical action and improved organisational performance
- Understand how to monitor and manage strategic performance
- Design and build a Balanced Scorecard
- Drive operational performance improvement in line with strategy
- Communicate and manage change
Training Methodology
The workshop is based on a combination of interactive activities – group and individual exercises, case studies and discussions – along with formal inputs. Real examples are employed to illustrate how the techniques work in practice and a case study is used to demonstrate the end-to-end process of creating and implementing a Balanced Scorecard. Delegates also create a plan of action for applying lessons learned within their own organisations
Organisational Impact
The key benefits to organisations include:
- Turning the organisation’s vision into a practical reality
- Delivery of improved operational performance
- Aligning different elements of the organisation around a common strategy
- Development and communication of strategic measures
- Monitoring ongoing performance improvement
- Aligning strategic initiatives to organisation strategy
Personal Impact
The key benefits to delegates include:
- Deeper knowledge and understanding of the Balanced Scorecard
- A systematic methodology for developing and managing a Balanced Scorecard
- Practical experience in the use of the Balanced Scorecard
- Greater capability to monitor and drive performance improvement
- Understating of how to rollout a Balanced scorecard across an organisation
- A personal action plan for applying learning within their own organisation
The seminar will benefit:
- Executives
- Managers with responsibility for creating or managing a balanced scorecard
- Financial Officers and controllers
- Process Managers
- Strategic Planning Managers
SEMINAR OUTLINE
DAY 1
A Tool for Managing Strategic Performance
- Introduction to the Balanced Scorecard
- Benefits of the Balanced Scorecard
- Linking Mission and Vision to operations
- Application and uses of the Balanced Scorecard
- The Financial, Customer, Process perspectives in detail
- Overview of the Balanced Scorecard creation process
- Strategy maps and Strategic Themes
- Strategic Measures and Strategic Targets
- Lessons learned from Day 1
DAY 2
Developing a Balanced Scorecard
- Create a strategy-centric organisation
- The Learning & Growth perspective in detail
- Define strategy, identify strategic themes and build strategic linkages
- Engage the leadership team
- Importance of data collection, interviews and focus groups
- Strategic documentation
- Work with the Case Study
- Strategic objectives and strategic themes
- Lessons learned from Day 2
DAY 3
Monitoring Strategic Performance
- Purpose of strategic measures and their relationship with KPIs
- Lead and lag measures
- Develop appropriate measures using the Strategy Map
- Examples of measures for each of the four perspectives
- How to implement the Balanced Scorecard
- Lag and lead measures
- Determine measures and targets
- Map strategic initiatives
- Case study activities
- Lessons learned from Day 3.
DAY 4
Implementing A Balanced Scorecard
- Set appropriate stretch targets for each objective
- The Strategic Management System and performance management
- Map strategic initiatives for HR
- Plan for implementation
- Bring about successful change
- Communicate the Balanced Scorecard
- Develop appropriate targets using the Strategy Map and Measures
- Cascade the Balanced Scorecard across the organisation
- Strategy Review Meetings
- Case study activities
- Lessons learned from Day 4
DAY 5
Pulling it all together
- How to make it work in your organization
- Create an outline project plan
- Identify key roles and key players
- Case study activities
- Top Tips for success
- Create a personal plan of action
- Lessons learned from the programme.
