Strategic Planning Using the Balanced Scorecard: Turning Strategy into Reality

Introduction

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.