Strategic Planning Using the Balanced Scorecard

Introduction:

The Balanced Scorecard puts strategy at the heart of your organization, 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.

Targeted Groups:

• Executives
• Managers with responsibility for creating or managing a balanced scorecard
• Financial Officers and controllers
• Process Managers
• Strategic Planning Managers

Course Objectives:

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

• Translate vision and strategy into practical action and improved organizational performance
• Understand how to use the Balanced Scorecard to drive improved performance
• Design and build a Balanced Scorecard
• Align the organization around commons goals
• Understand how to monitor and manage strategic performance
• Drive operational performance improvement in line with the strategy
• Communicate and manage change
• Monitor and drive performance improvement
• Understand how to rollout a Balanced scorecard across an organization
• Create a personal action plan to drive performance improvement within their organization

Targeted Competencies:

• Balance scorecard
• Performance management
• Change management
• Communication skills

Course Content:

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