A Step-by-Step Developing Balanced Scorecards and KPIs
Overview:
Introduction:
By translating strategy into a balanced set of objectives - covering Finance, Customer, Internal Processes, and People - the 'Balanced Scorecard' approach enables organizations to turn their strategies into operational reality. Clear measures and targets allow leaders to steer their organization towards its long-term goals and engages managers and staff to contribute more fully to its success.
The Balanced Scorecard focuses all resources on achieving the strategy; employees are empowered to develop and perform, internal processes are enhanced to deliver what customers want, and of all this leads ultimately to financial success.
Course Objectives:
At the end of this course the participants will be able to:
- Build a Balanced Scorecard from scratch, based on your organization’s strategy
- Overcome obstacles to implementing a Balanced Scorecard in practice
- Translate strategy into tangible results to be measured and monitored
- Align people and resources to focus on achieving the strategy
- Adjust and enhance strategy in line with a changing environment
Targeted Audience:
- Executives
- Managers with responsibility for creating or managing a Balanced Scorecard
- Financial Officers and Controllers
- Process Managers
- Strategic Planning Managers
Course Outlines:
Unit 1: Introduction to the Balanced Scorecard:
- Introduction to the Balanced Scorecard
- Benefits of the Balanced Scorecard
- Beginning with a Vision
- The Financial, Customer, Process Perspectives in Detail
- Strategy Maps and Strategic Themes
- Lag and Lead Measures / KPIs
- Constructing a Strategy Map
Unit 2: Understanding Strategy:
- The Balanced Scorecard Development Process
- Understanding Organizational Strategy
- Exploring the Strategies of Participants’ Own Organizations
- Creating a Strategy-centric Organisation
- Engaging the Leadership Team
Unit 3: Building Strategy Maps:
- The Learning & Growth Perspective in Detail
- Creating a Climate for Action
- Creating Strategy Maps for Participants Own Organisations
- Strategic Measures / KPIs
- Linking Strategy and Business Planning
Unit 4: Building a Complete Balanced Scorecard:
- Strategic Targets
- Mapping Strategic Initiatives
- Monitoring and reviewing the Balanced Scorecard using the latest web-based technology
- Completing the Balanced Scorecard for Participants’ Own Organizations
- Planning for Implementation
- Cascading the Balanced Scorecard Across an Organization
Unit 5: Pulling It All Together:
- Reviewing and Enhancing Participants’ Balanced Scorecards
- Identify Potential Pitfalls and Barriers to Implementation
- Gaining Buy-in and Ownership for the Balanced Scorecard
- Top Tips for Successful Creation and Implementation of a Balanced Scorecard
- Making a Personal Plan of Action based on the Training Seminar