Balanced Scorecard

Introduction

"We can't see the wood for the trees!" How often have you found yourself faced with trying to manage and direct your business by poring through pages and pages of fine detail financial figures? Of course the finances are vital, but top teams who really succeed recognise that they need to look at their business performance from other "perspectives" as well. They need to drive their business from their original strategic vision towards reality by watching the "dashboard" rather than staring at the thousands of moving parts inside their corporate "engine".

The Balanced Scorecard course offers delegates a proven approach to managing the business for success through focused measurement and control.

Course Aim

By the end of the seminar you will have acquired a "Balanced Scorecard Toolkit" to help you change the way you measure and manage performance in your business.

Course Objectives

By the end of this course, delegates will be able to:

Communicate strategy throughout their organisation
Identify financial, business process, customer satisfaction, and internal development measure that will support their strategy
Track their performance against strategic and operational goals
Identify improvements that will impact on corporate success

Course Content

Course content includes:

The Balanced Scorecard: What Is It and Why Use It?

This session focuses on how corporate strategy must set the agenda for performance management, and considers both traditional measurement and Scorecard type measurement systems. Topics covered include:

Balancing the corporate strategy (e.g. the McKinsey 7 S model)
Traditional performance measurement techniques
The concept of the Balanced Scorecard - 4 Perspectives
Examples of organisations that use a Balanced Scorecard

Strategy and Scorecards

The Balanced Scorecard offers top teams the potential to clearly link business performance back to business strategy. Delegates will apply the concepts covered to their own business strategies. Topics discussed will include:

Vision, mission goals and objectives
Critical success factors
Linking the Balanced Scorecard to objectives and CSFs
Strategy focused organisations and the Balanced Scorecard

Scorecard Perspectives in Depth

The essence of the Balanced Scorecards is its principle of 4 "Perspectives". This session will explore each perspective in depth, with delegates drawing up perspectives for their own businesses. Topics worked on will include:

Financial perspective: "How do our stakeholders view us?"
Customer perspective: "How are we seen in the marketplace?"
Internal business process perspective: "Where must we excel?"
Learning and growth perspective: "How can we improve and evolve?"

Building YOUR Balanced Scorecard

Having understood what a Balanced Scorecard is and how it operates, it is now important to consider how to implement the system. The topics discussed in this session will include:

Key steps in implementing a Balanced Scorecard
Roles and responsibilities in order to achieve change
Identifying what really needs to be measured
Linking into to the rest of the organisation

Managing YOUR Business Using the Balanced Scorecard

Once the Balanced Scorecard is in place then as top executives it will be your responsibility to use it to guide your organisation wisely. The topics we will discuss in this final session will include: