Balanced Business Scorecard
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At the highest level, the Balanced Business Scorecard is a framework to help organisations to clarify their vision and strategy and translate them into operational objectives that drive both performance and behaviour. It is a management system that uses measurement to provide feedback on internal processes and external outcomes in order to improve the strategic performance and operational results.
Over the last decade the Balanced Business Scorecard has become established management best practise in many of the world's leading businesses. This programme uses a lively mixture of theory and work on business case studies to help delegates gain a thorough understanding of the benefits and challenges of implementing a Balanced Business Scorecard.
This two-day course covers the structure, process and challenges of building, implementing and using a Balanced Business Scorecard to improve performance and to put strategy at the centre of key management processes and systems.
This course will enable delegates to:
- Describe the structure and typical content of a Balanced Scorecard.
- Translate an organisation's strategic themes and objectives into a Balanced Scorecard.
- Use a Balanced Scorecard in a management-for-results environment.
- Understand how to use the Balanced Scorecard to align operational activity with strategy.
- Understand the Change Management implications of implementing a Balanced Scorecard.
Introduction (4 topics)
- Difficulties of implementing strategy
- Basic structure of a Balanced Scorecard
- Impact of a Balanced Scorecard
Strategy Maps (5 topics)
- Cause and effect linkages
- Strategic themes
- Objective linkages
- Architecture of a strategy map
- Four perspectives of a Balanced Scorecard
Balanced Scorecard (5 topics)
- Performance measurement
- Outcomes and performance drivers
- Structure of a Balanced Scorecard
- Target setting
- Performance measures for the four perspectives
Cascading the Balanced Scorecard (2 topics)
- Functional, support and partner scorecards
- Personal scorecards
Developing a Balanced Scorecard (4 topics)
- The key process steps to develop a Balanced Scorecard
- A timetable for development and involvement
- Identifying and rationalising strategic initiatives
- Assessing and managing risks
Implementing a Balanced Scorecard (4 topics)
- Communicating and aligning the organisation
- Planning and target setting
- Strategic feedback and learning
- The critical importance of effective change management
The Strategy Focused Organisation (4 topics)
- Executive Leadership
- Translating strategy into operational objectives and aligning the organisation
- Making strategy everybody's job
- Making strategy a continual process