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 Strategic Planning Using the Balanced Scorecard (M12326) QR Code

Strategic Planning Using the Balanced Scorecard

Overview:

Introduction:

The Truly Strategic Way to measure the performance of Employees, Departments, and Business Units is by measuring their contribution to Organizational Strategic Objectives.
This program shows you how to practically understand this technique and gain a multi-discipline understanding of the issues involved. The program is intended for personnel involved in developing, implementing, and communicating Balanced Scorecards and relevant KPIs in their Departments and Organizations.

Course Objectives:

At the end of this course the participants will be able to:

  • Build a Balanced Scorecard from scratch
  • Translate strategy into tangible results that can be measured and monitored
  • Engage and empower all employees to deliver the strategy
  • Put customer service at the heart of operations
  • Adjust and enhance strategy in line with a changing environment
  • Overcome obstacles to implementing a Balanced Scorecard in practice

Targeted Audience:

  • Executives
  • Department managers
  • Managers with responsibility for creating or managing a Balanced Scorecard
  • People with responsibilities for developing and managing KPIs
  • Financial officers and controllers
  • Strategic Planning Managers

Course Outlines:

Unit 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

Unit 2: Developing a Balanced Scorecard:

  • Create a strategy-centric organization
  • 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

Unit 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

Unit 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 organization
  • Strategy Review Meetings

Unit 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

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