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The Balanced Scorecard: Linking Strategy and Results

Course Details

One common struggle many leaders face is an inability to link the company’s vision and strategy directly to meaningful short-term actions. The result is difficulty meeting strategic goals, disappointed stakeholders, wasted time and effort, and disengaged staff who are frustrated by not being able to tie their work to the greater goals.

Originated by Drs. Robert Kaplan and David Norton, the balanced scorecard is a strategic planning and management system designed to align high level goals with business activities through not only financial but also non-financial performance measures.

In this workshop, participants will explore these measures, called perspectives, and learn to apply them to their work environment. Participants will walk through a process to build a meaningful balanced scorecard, develop performance measures for each of the four perspectives, identify useful metrics, and learn how to implement a balanced scorecard for greater acceptance and engagement throughout the organization.

Who Should Attend

  • Leaders throughout the organization
  • Operations officers and managers
  • Financial officers and managers
  • Process managers
  • Strategic planning task force members

Continuing Education and Recertification Hours

  • 1.3 CEUs
  • Pending PDU Hours

Course Outcomes

  • Understand the basics of the balanced scorecard and how it can improve organizational performance
  • How to build a useful balanced scorecard
  • What are the four perspectives and how do they support strategic planning
  • How to develop meaningful metrics

Course Outline

    Day 1

    Introduction to the Balanced Scorecard

  • What is the Balanced Scorecard and how is it valuable?
  • Foundation Balanced Scorecard elements.
  • The differences among business, government, and nonprofit scorecards.
  • A repeatable process for developing and implementing the Balanced Scorecard.
  • Challenges of implementing the Balanced Scorecard.

Strategic Assessment

  • Organizational readiness assessment.
  • Securing sponsorship.
  • Aligning executive behavior with the Balanced Scorecard strategy.
  • Getting the right people involved.
  • Defining strategic objectives.

Aligning the Balanced Scorecard with Organizational Strategy

  • The Balanced Scorecard System plan.
  • Defining a realistic schedule.
  • Securing the needed resources.
  • Dynamic communication.
  • Planning for common pitfalls.

Day 2

Developing the Balanced Scorecard

  • The strategy map using the four perspectives of the Balanced Scorecard.
  • Valid performance measurements.
  • Defining strategic initiatives and priorities.
  • Exploiting interface opportunities.

Implementing the Balanced Scorecard

  • Sustaining employee engagement.
  • Cascading the Balanced Scorecard throughout the organization.
  • Considerations for projects and operations.
  • Aligning the business units.

Optimizing the Balanced Scorecard

  • Collecting and verifying performance data.
  • Balanced Scorecard dashboards.
  • Using Balanced Scorecard information for improved organizational performance.
  • Keeping the Balanced Scorecard system healthy.

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