Course description
This is a hands-on course, and after presenting the balanced scorecard elements including vision, mission, goals, objectives, key performance measures (KPMs), targets and initiatives, participants will have the chance to build the balanced scorecard for a virtual company using a tested step-by-step model.
Programme Summary
Aligning business activities to a company’s vision and strategy is a must to ensure operational excellence. This is easier said than done, since this will require specific processes to communicate objectives in a clear manner to all stakeholders, and a robust system to monitor the organisation’s performance against strategic goals from all perspectives.
The balanced scorecard which was developed by Dr. Robert Kaplan (Harvard Business School) and Dr. David Norton ensures the above are met. In this hands-on course, and after presenting the balanced scorecard elements including vision, mission, goals, objectives, Key Performance Measures (KPMs), targets and initiatives, participants will have the chance to build the balanced scorecard for a virtual company using a tested step-by-step model. The knowledge gained from attending this course will ensure that the participants will be able to review or develop the balanced scorecard for their department or organisation.
Key Learning Points
- Explain the benefits and importance of a Strategy Focused Organisation (SFO)
- Develop a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis, vision and mission statements and strategic goals for their organisation or department
- Use ‘SMART’ objectives and key performance indicators to track the performance and productivity at all levels in their organisations
- Apply the approach of best-in-class bench-marking technique to set targets for each KPM
- Design a balanced scorecard based on the Kaplan and Norton model
Upcoming start dates
Suitability - Who should attend?
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.
Training Course Content
Day One – Benefits of strategic management and planning
- The strategy focused organisation
- 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
- ‘SWOT’ analysis, vision and mission statements
- Linking the results of the ‘SWOT’ findings to future objectives and initiatives
- Definition of a vision statement
Day Two
Developing performance measures and control systems
- Goals, objectives, and targets
- ‘SMART’ objectives
- Indicators and Units of Measures (UOMs)
- Aligning Key Performance Measures (KPMs) to company strategy
- Obstacles to measurement
- Developing strategies and initiatives that will assist in achieving the targets
- The balanced scorecard as a strategic management system
The balanced scorecard as a strategic management system
- Linking the balanced scorecard’s KPMs to strategy
- Strategy map: specifying relationships and making them testable
- Implementing a balanced scorecard programme
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St Andrews Management Centre
St Andrews Management Centre is an independent training provider, based in Fife in Scotland, which provides accredited and non-accredited learning to clients in the domestic and international markets. Our specialisms include Leadership & Management, Coaching and Mentoring, Project Management, Finance...