Balanced Scorecard for Business Performance

MDIS


Course introduction

It was stated that the ability to execute is more important than a beautiful strategy. Why do organizations have difficulty in implementation? One problem is that strategies or business plans (or other fancy terms) 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.



Course Benefits


Upon completion of this workshop, participants will be able to;

  • 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



Target Audience


All managers, BSC team, supervisory level staff and above, from all departments and industries with participation from senior management.



Course Outline


The impact of numbers. Specific exercise on the importance of numbers

  • Introduction to Performance Management System
  • Discussion on areas of the organisation where measurement is difficult
  • The missing link: is $$ the best measure?
  • What is the Balanced Scorecard (BSC)? A look at the 4 perspectives:
  1. Financial
  2. Customer
  3. Internal business
  4. Innovation & learning
  • Why should an organisation 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



Available Course Sessions


Please click here to stay updated on upcoming sessions.



Trainer Profile


Andrew Cheah

All of our Associate Trainers offer our high level of service therefore are subject to regular peer assessments and interview prior to joining our Institute. They must all be qualified and have relevant experience to an agreed level and are subjected to continual audit and evaluation. Strict internal assessment is implemented as an integral part of our quality control mechanism.



 

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