What is Balanced Scorecards?
The Balanced Scorecard (BSC) is a management process designed to help teams be accountable, focused, agile, innovative, productive and successful. By establishing and using key qualitative and quantitative performance indicators (KPI), the Scorecard is instrumental in clarifying goals, reconciling competing priorities, improving budgeting and resource allocation, tracking progress and assessing outcome and impact. The focus is on the few internal and external drivers of sustainable excellence and breakthrough performance.
The BSC process can translate an organization's strategic intentions into measurable targets, mobilize change, make strategy everyone's responsibility through measurable critical success factors and improve both behavior and performance. The Scorecard measures performance from four critical perspectives: financial, client/customer, internal operations and learning/growth.
The Scorecard approach can help an organization and all its business units achieve superior results, create excellent value for its stakeholders and demonstrate accountability and good governance. Its basic intent aims at turning mission and vision into clear goals and operational strategies, tracking progress early through leading indicators, encouraging internal communication and developing consensus and teamwork. Its benefit is a greater balance between: lagging indicators (financial reports) and leading indicators (customers enquiries, weather forecasts), quantitative and qualitative measures, and internal and external drivers of performance.
Build the skills to improve your performance with a BSC approach customized to your planning, implementation and day-to-day operational needs;
- Integrate the Balanced Scorecard process within your working environment;
- Identify lead performance drivers that are meaningful to your organization;
- Link operational objectives and targets to mission, priorities and strategic objectives;
- Maintain a strategic and operational focus on the details that count;
- Use the BSC as a strategic management tool, one that can influence your day-to-day management decisions and serve as a powerful motivational tool.
This workshop aims to ensure best retention rate and quick improvement in both employee and work performance within the work place alike, and has been structured in to six modules content workshop with 40 training hour, we will use our customized learning aids like Balanced Scorecards Software, Mind Management, Real and approved project case studies, Bizagi moduler, as well as, serious game and formal real assignment. The workshop modules are developed shown below in the modules section.
- Power Point Slides
- Student Manual
- Practice Guide for Balanced Scorecards
- Certificate of completion
Balanced Scorecards Training Modules
Module 1: Features of Accountability and the Balanced Scorecard
- What is the Balanced Scorecard (BSC)?
- Concepts, terminology,
- Why does your team need a BSC?
- How can the BSC benefit your team and organization?
- Where does the "balance" come from?
Module 2: How to Make BSC Useful to Everyone in Your Team
- How to use the BSC for validating and implementing goals and strategies
- Conceptual framework of the value-chain analysis
- How first-line managers can effectively work with the Scorecard
- How to succeed with the BSC
- The caveats of the Balanced Scorecard
Module 3: The Prerequisites of the BSC: From the Vision to Measurable Initiatives
- Value goals
- Strategic objectives
- Tactical objectives
- Operational objectives
Module 4: Performance Measures and the BSC Process
- Identifying the performance indicators and standards Organizational unit level
- Roles and mission
- Critical success factors
- Performance indicators
- Benchmarks and performance standards
- Operational objectives using BSC to gauge
- Linking the BSC to a performance-incentive program for both, individuals and teams
Module 5: What Are the BSC Measures: The Four Perspectives
- Financial perspective: How should an organization appear to its stakeholders?
- Customer perspective: How should an organization appear to its customers and in the marketplace?
- Internal process perspective: What business process should an organization excel in?
- Learning and growth perspective: How should an organization sustain its ability to change and improve?
Module 6: Documenting the BSC Measures
- Quantitative and qualitative data
- Focus groups
- Information technology (I/T)
Module 7: The Control Process
- Types of controls
- Gauging the fundamentals of the BSC
- The dashboard framework: how to customize it
Module 8: Scorecard Implementation: The Complete Roadmap
- How to overcome the risks and barriers to implementation
- Lessons from the best-practicing organizations
- Action plan, leadership, time line and resource requirements
Module 9: Case Studies
Throughout the workshop, participants will learn how to apply the BSC by analyzing and evaluating its use by organizations in a variety of activities.