Course description
A balanced scorecard is a strategic management performance metric that helps companies identify and improve their internal operations to help their external outcomes. It measures past performance data and provides organizations with feedback on how to make better decisions in the future.
The Balanced Scorecard: Achieving Performance Excellence training course is designed to help a diverse of range organizations with balanced scorecards, strategic planning, strategy execution, or KPI / performance measurement & management system development and implementation.
The course designed for practitioners charged with implementing and facilitating strategic planning or scorecard development initiatives at their organizations, while shorter "overview" and "essentials" courses are available for those needing a basic understanding of planning and measurement concepts so that they can serve in executive or team roles in the process.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
The Balanced Scorecard: Achieving Performance Excellence Training Course is Ideal for :
- All managers and supervisors involved in strategic planning and performance management.
- The course is also very helpful to those involved in improving performance and measuring results.
Outcome / Qualification etc.
At the end of The Balanced Scorecard: Achieving Performance Excellence course, participants will be able to:
- Explain the benefits of a strategy focused organisation.
- Know how to develop Strength, Weaknesses, Opportunities, and Threats (SWOT) analysis, vision and mission statements for their organisations.
- Use SMART objectives and key performance indicators to track performance and productivity in their organisations.
- Apply the concepts in, and design balanced scorecards for, their organizations.
- Link performance measures to strategic goals and objectives.
- Use Key Performance Indicators KPIs for the measurement and evaluation of performance and productivity at all levels: company, department and individuals.
- Evaluate the feasibility of using the Balanced Scorecard in their organization.
- Design and implement the approach of Best-in-Class Benchmarking in their organization
Training Course Content
Day 1
Benefits of strategic management and planning
- The strategy focused organization
- Why implement the balanced scorecard
- Strategic planning needs and benefits
- A strategic planning model
- The importance of the balanced scorecard
- Balanced scorecard steps and timeline
Day 2
'SWOT' analysis, vision and mission statements
- The purpose of a 'SWOT' analysis
- 'SWOT' in brief
- Linking the results of the 'SWOT' findings to future objectives and initiatives
- Definition of a vision statement
- Importance of a structured mission statement
Day 3
Developing performance measures and control systems
- Goals, objectives, and targets
- 'SMART' objectives
- Key performance indicators and Units of Measures (UOMs)
- Aligning KPIs to company strategy
- Obstacles to measurement
- Developing strategies and initiatives that will assist in achieving the targets
- Developing strategies
Day 4
Benchmarking as a tool to set targets
- Objectives and basics of benchmarking
- The who, what and why of benchmarking
- Different methods of benchmarking
- Who to benchmark against
- The benchmarking process
Day 5
The balanced scorecard as a strategic management system
- Strategic planning and strategy execution
- Reasons behind failures of well-formulated strategies
- Translating the vision into everyday actions
- Importance and history of the balanced scorecard
- The premise behind the balanced scorecard
- Principles of the strategy focused organization
- Measuring business strategy from the financial, customer, internal, business or process and learning and growth perspectives
- Strategic alignment and goal setting
- Linking the balanced scorecard's KPIs to strategy
- Strategy map: specifying relationships and making them testable
- The importance of initiatives
- Evaluating initiatives
- Managing initiatives
- Soft and hard KPIs
- Leading and lagging KPIs
- Reporting and evaluating results
- Cascading the balanced scorecard
- Implementing a balanced scorecard program
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London Premier Centre
London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...