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 Strategic Planning Using the Balanced Scorecard: Turning Strategy into Reality (M1114) QR Code

Strategic Planning Using the Balanced Scorecard: Turning Strategy into Reality

Overview:

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 organisation.
  • 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.

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