Balanced Scorecard for Business Performance

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Description

The ability to execute with leadership is more important than a beautiful strategy. Why do organisations have difficulty in implementation? One problem is that strategies or business plans are always changing, but the tools for measuring have not kept pace. Measurement is directional: it keeps management motivated on the strengths, focused on the weaknesses, and action-conscious to overcome problems.

The Balanced Scorecard is a strategic performance management tool used by organisations to measure and monitor their progress towards achieving their objectives and vision with leadership in execution. It is based on the premise that financial measures alone are not sufficient to provide a complete view of an organisation’s performance, and that a more balanced approach is needed. The tool considers four perspectives: financial, customer, internal processes, and learning and growth, and uses a set of key performance indicators (KPIs) to track and evaluate an organisation’s performance in each of these areas.

By using the Balanced Scorecard, organisations can ensure that they are aligned with their strategy, communicate their objectives and progress to stakeholders, demonstrate leadership in identifying areas for improvement, and make data-driven decisions to achieve their long-term goals.

This course is HRD Corp (HRDC / HRDF) claimable. 

Additional information

Mode

Online, Physical, 2-days
In-House

✓

Course Details

The participants will:

  • learn and review scorecard fundamentals
  • understand how to measure performance systematically
  • build on an existing performance management initiative
  • translate strategy into operational terms which are executable
  • design a strategy map and scorecard
  • learn step by step methodology of doing the BSC
  • complete a preliminary, first draft of BSC.

Suitable for:

Managers, Head of Department, Senior Management

Course Outline

 

  • The impact of numbers
  • Introduction to Performance Management System
  • Discussion on areas of organization where measurement is difficult
  • Missing link: is $$ the best measure?
  • What is the Balanced Scorecard (BSC)? A look at the 4 perspectives: financial, customer, internal business, innovation & learning
  • Why should organization have a scorecard?
  • Strategy and its relationship with cause and effect
  • Cascading the Balanced Scorecard – The 5 Step Cycle and How to do it
  • Benchmark Data : comparing companies & industries
  • Analysing the Current State of an Organisation
  • How to Develop the Balanced Scorecard
  • Understand the “musts” of measurements
  • Balancing the measurements
  • Lead and Lag indicators
  • Case : develop your own Scorecard
  • Creating Measurement Maps for Identified Goals
  • SMART Objectives
  • Case Studies – Those who have Implemented a Scorecard and their Key Learnings

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