Balanced Scorecard Framework Course Overview
Balanced Scorecard framework online course equip delegates with a proven and effective tool to capture, describe, and translate organizations strategic goals, into meaningful objectives
at corporate, divisional, and individual employee levels, thereby allowing for the strategies to be successfully implemented.Over the past several decades, organizations have come to realize that success cannot only be measured in dollars and cents. Intangible assets (like a company’s reputation, the knowledge base created by their employees, and training initiatives) can make up a huge portion of a company’s wealth.
It only makes sense, then, that we need a new tool to help us measure this expanded definition of success. Enter the balanced scorecard! This tool and its related components will help your organization identify, document, plan, and execute a balanced strategic mission. It will also help your organization evaluate and revise its strategic execution.
This two-day online balanced scorecard framework workshop will introduce participants to the basics of the balanced scorecard and help them determine if this powerful tool is a good fit for their organization.
Balanced Scorecard Framework Course Objectives
What Will Students Learn?
- Define what the balanced scorecard is and its benefits
- Describe common balanced scorecard pitfalls & how to avoid them
- Determine if the balanced scorecard is right for your organization
- Describe the key elements of the balanced scorecard framework process
- Identify a strategy map, tactical action plan, and balanced scorecard
- Create a vision statement for the balanced scorecard
- Understand what corporate values, mission statements, and vision statements are and how they tie into the balanced scorecard
- Understand what processes support the balanced scorecard framework
Balanced Scorecard Framework Course Benefits
The Benefits of Attending
Participants will understand the key concepts of the balanced scorecard framework, and why it is gaining so much attention in corporate, non-profit, and governmental organisations.
Participants will learn a systematic, nine-step methodology for building and implementing the balanced scorecard, based on the performance management theory developed at Harvard University and our international balanced scorecard consulting experience.
Participants will receive a balanced scorecard toolkit with worksheets for each step of the methodology and reference material
Balanced Scorecard Framework Course Outlines
You will spend the first part of the day getting to know participants and discussing what will take place during the workshop. Students will also have an opportunity to identify their personal learning objectives.
Understanding the Balanced Scorecard Framework
To start the day, participants will learn what the balanced scorecard is and where it originated from. Participants will also explore what economic changes caused the balanced scorecard to evolve.
The Ingredients for Success
Next, participants will evaluate if the balanced scorecard is a good tool for their organization. Participants will also brainstorm solutions to the top ten issues that cause the balanced scorecard to fail.
Overview of the Balanced Scorecard Framework Process
This session will begin with a flowchart outlining each step of the balanced scorecard process. Participants will also review a sample strategy map, tactical action plan, and scorecard.
Creating a Project Vision Statement
In this session, participants will learn how to craft a vision statement for the balanced scorecard project.
Understanding Organizational Mission, Vision, and Values
This session will look at what a mission statement, vision statement, and value identification list looks like, and how they each fit into the balanced scorecard process. To apply learning points, participants will evaluate what some well-known companies have for these statements.
Plans and Processes to Build
Next, participants will receive checklists for creating training plans, project plans, communication plans, and core processes.
Building Balanced Scorecard Teams
To wrap up the day, participants will learn how to build the three most common types of balanced scorecard teams: an executive team, a steering team, and strategic theme teams.
At the end of the day, students will have an opportunity to ask questions and fill out an action plan.Other interesting online courses are in online global academy
The JK Michaels classroom balance scorecard training is equally available click Strategic Performance Management using Balanced Scorecard
This balanced scorecard framework online training course consists of the taught modules below interspersed with case study exercises. Participants will be expected to undertake a small amount of pre-course reading of case study material.
- Orientation, Introductions, Expectations
- Balanced Scorecard Basics and Benefits
- Affinity Grouping
- Exercise: Affinity Grouping
- Overview of all Elements – the Nine Steps to Success
- BSC Project Flow, Change Management, Strategic Assessment
- Exercise: Strategic Assessment
- Introduce Case Study and Exercise Format
- Step 1 – Assessment – Mission and Vision
- Exercise: Picture of the Future
Strategy and Customer Value Proposition
- Step 2 – Strategy and Customer Value Proposition
- Exercise: Customer Value Proposition
- Exercise: Strategic Themes and Results
- Step 3 – Strategic Objectives
- Exercise: Develop Strategic Objectives
- Step 4 – Strategy Mapping
- Exercise: Create Strategy Maps
- Exercise: Merge the Maps (optional)
- Step 5 – Performance Measures
- Exercise: Intended Results
- Exercise: Create the Measures
- Step 6 – Strategic Initiatives
- Exercise: Candidate Initiatives
- Step 7 – Performance Analysis
- Step 8 – Scorecard Alignment
- Exercise: Alignment
- Step 9 – Evaluating a Scorecard
Day 2-Evaluation and Assessment
- Evaluation & Assessment
- Exercise: Evaluation and Checklist
- Advanced Strategic Foundations Development
- Exercise: Strategy Canvas
- Advanced Objective & Strategy Map Development
- Exercise Theme Based Strategy Map
- Advanced Performance Management: Measure What Matters
- Exercise: Process Map to Select Measures
Measurement Definition,Implementaion & Visualization
- Measurement Definition, Implementation & Visualisation
- Exercise: Measurement Creation and Analysis
- Strategic Initiative Prioritisation & Management
- Exercise: Strategic Initiative Prioritsation
- Advanced Scorecard Alignment and Cascading
- Exercise: Correct the Tier 2 Strategy Map
- Managing and Sustaining a Balanced Scorecard
- Balanced Scorecard Training Close and Final Review
- Professionals interested in measuring performance
Professionals interested in Balanced Scorecard Management System from the finance, human resources, production, logistics, information technology and other fields, will acquire the competency to apply all the above-mentioned concepts in their organizations, immediately after the course.
- Top/middle/lower management professionals
Executives or operational managers, regardless of their field of expertise, will gain the ability and knowledge to measure performance and maximize the value of using a sound Balanced Scorecard Management System. The tools and resources offered as part of the training course will enable managers to apply the acquired concepts within their organizations, immediately after the course.
- Performance measurement experts
For professionals like Strategy Manager, Performance Management Officer or Performance Architect, it is important to develop competencies in designing a Balanced Scorecard Architecture, especially in terms of translating the organizational strategy into outstanding results.
Through case studies and a series of interactive small-group workshops, participants will apply the balanced scorecard concepts to meet the challenges facing a typical organisation. Exercises performed throughout this course include:
- Launching a Balanced Scorecard programme and establishing work teams
- Incorporating communications planning and change management into the scorecard process
- Use an organisational assessment to set vision, mission, and strategy
- Understand who your customers and stakeholders are and what they need from your organisation
- Develop an organisation’s strategic themes, strategic results and perspectives
- Develop and refine strategic objectives and strategy maps
- Develop and refine performance measures and targets, aligned to strategy
- Develop & prioritise new initiatives to execute strategy
- Sustain the scorecard with a Strategy Management Office
- Define enterprise performance information requirements and select software