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The Balanced Scorecard is a management and measurement system that enables organizations to clarify their vision and strategy and translate them into action.  When fully deployed, the Balanced Scorecard transforms strategic planning from an academic exercise into the nerve center of an organization.

OBJECTIVES

·     Understand the purpose of the Balanced Scorecard and how it differs from traditional management and measurement systems.

·     Understand the fundamentals of the Balanced Scorecard.

·     Become familiar with the processes for creating and using the Balanced Scorecard.

·     Learn how to integrate the Balanced Scorecard with other modern management tools and techniques

·     Implementation phases of Balanced Scorecard.

TARGET AUDIENCE

·         All Functional Managers

·         General Managers

·         Managing Directors

·         All those involved in Strategic Planning

·         If you have special interest or task in strategic planning.

·         Corporate Planners

·         Engineers

·         Business Development Managers

METHODOLOGY

·         Lectures

·         Case Studies - samples of scorecards

         - exercises 

DURATION

·         2 days - 9.00 am to 5.00 pm

WORKSHOP OUTLINE

DAY ONE

1.      Introduction

·         Why do a Balanced Scorecard

·         The Balanced Scorecard and the holistic view

·         Balance defined

·         Scorecard defined

2.      Prerequisites for a Balanced Scorecard

     ·         Scorecard Fundamentals

·         Balanced Scorecard - Integrating Performance Measures to Strategy

·         Formation of Teams

·         Executive Team

·         Implementation Team

·         Implementation Team Leader / Project Manager

·         Facilitator

 3.      Structure of the Balanced Scorecard

     ·         Charting the Strategic Direction

·         Create / Review Mission and Vision Statements

·         Defining Strategies Objectives - Hoshin Planning Method

·         Generating Key Strategic Data 

4.      Measuring Business Strategy

          - Financial Perspective

(a)     Risk Management

(b)    Strategic Themes - Revenue growth and mix; Cost reduction / Productivity improvement; and Asset utilization / Investment strategy.

   - Customer Perspective

(a)    Customer core measurement group - market share; Customer Retention; Customer acquisition; Customer satisfaction; and Customer Profitability

    - Internal Business Process Perspective

(a)    Process value chain - innovation; operations; and after sales service

    - Learning and Growth

(a)    Measuring employee capabilities - employee satisfaction; employee retention; and employee productivity

(b)    Re-skilling the workforce

(c)    Information capabilities

(d)   Measures of individual and organizational alignment

- Linking Balanced Scorecard measures to strategy.

DAY TWO

     1.      Case Studies

      ·         Samples of scorecards

·         Exercise 

     2.      Building The Scorecard

      -         Achieving Strategic Alignment : From top to bottom

-         Targets, Resource Allocation, Initiatives and Budgets

-        Feedback and The Strategic Learning Process

3.   Implementing The Balanced Scorecard Program

      -         Phase One - Model synthesis - commit consensually to the vision and strategies;

     >        Quantify strategies to Key Performance Indicators

-         Phase Two - Building an Integrated Management Systems

°              Strategy formulation and strategic issue update

°              Link to personal objectives and rewards

°              Link to planning, resource allocation, and annual budgets

°              Feedback and strategic learning

4.      Exercise, Feedback and Conclusion