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Strategy & Planning
Introduction to the Balanced Scorecard
Basics of Strategic Planning using the Balance Scorecard Methodology
Duration: 3 Days
Who Should Attend:
- Senior Executives & Senior Managers
- Strategic Planning Professionals
- HR Managers
Course Objectives
- An overview of Performance Management best practices
- An overview of the key principles and benefits of the Balanced Scorecard
- Familiarity with the Balanced Scorecard key concepts
- Understand the types of performance measures and how to use each
- Learn how to put the 4 perspectives of the Balanced Scorecard to work
- Identify the steps for developing and implementing your Balanced Scorecard
- Explore how Key Performance Indicators are used to drive change
- Learn how to develop KPIs that work for your organisation
- Master techniques for tracking KPIs and measuring performance
- Understand how to review and adapt you Balanced Scorecard as your organisation evolves.
What will you gain?
By the end of this course you will be able to:- Identify and develop clear strategic objectives
- Create and implement plans to achieve strategic and tactical goals
- Contribute to the unification of commercial goals of your organisation
- Link corporate objectives with incentives systems
- Facilitate the preparation of the annual budget process.
Course Content
- Overview of the Balanced Scorecard (BSC)
- Introduction to performance management and measurement
- Definitions
- Advantages of using BSC performance systems
- Contrast private sector and public agency use of scorecards
- Key questions the BSC seeks to answer
- Sample BSC performance measures
- Meeting the challenges of scorecard systems
- Indicators of successful projects
- Building the Balanced Scorecard
- Using an organisational assessment to set vision, mission and strategy
- Identify customer groups and develop the Customer Value Proposition
- Develop strategic themes and strategic results
- Develop strategic objectives and strategic success drivers
- Strategy mapping - develop cause-effect relationships among the objectives
- Derive Strategic Performance Measures, Targets
- Develop Strategic Initiatives
- Define Criteria for Selecting Initiatives
- Implementing the Balanced Scorecard
- Implementation issues
- Aligning strategy and work throughout the organisation
- Collect, verify and validate performance data
- Transforming data into information
- Developing an internal and external communication plan
- Cascading the scorecard throughout the organisation
- Employee motivation
- Linking strategy to resource decisions
- Linking performance to rewards
- Scorecard roll out, training and change management
- Using performance information to improve organisation performance
- Next Steps
- Integrating the scorecard with other enterprise management systems
- Integrating the scorecard with other enterprise information systems
- Best practices
- Getting Your Scorecard On Track
- Overcoming obstacles and challenges within your organisation
- Integrating the scorecard with other enterprise management and information systems
- The role of consultants
- Time and schedule estimates
- Develop an Action Plan based on your organisation's readiness.
Testimonials
- “One of the most important and best programs I’ve attended in my life. The program will help me in planning and working with a clear strategy.”
- “This program had a lot of exercises and games which I enjoyed. The trainer was interactive, realistic and simple at the same time. I’ve learnt strategic planning and how to set clear goals.”
- “Great trainer! Very useful course. Will improve my performance in the department and will improve my future strategic planning.”
- “The trainer was very interactive, and had a simple and smooth delivery style. Found the clarity of the content and the great communication skills of the trainer very different from other courses. The program will help in the field of strategic planning.”
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This ILM Accredited course is eligible for Unit Credits towards ILM Level 3 Leadership & Management Diploma, Certificate and Award qualifications.
EMAIL
+974 4031 6737