Strategic Planning Using Balanced Scorecard

Introduction

The Balanced Scorecard puts strategy at the heart of your organisation, allowing you to focus 100% of your employees’ effort on the achievement of company objectives. It provides a powerful framework for the rapid and effective implementation of strategy, delivering breakthrough performance improvement.

Course Objectives

• Translate vision and strategy into practical action and improved organisational performance.
• Understand how to monitor and manage strategic performance.
• Design and build a Balanced Scorecard.
• Drive operational performance improvement in line with the strategy.
• Communicate and manage change.

Course Outlines

Day 1

A Tool for Managing Strategic Performance

• Introduction to the Balanced Scorecard.
• Benefits of the Balanced Scorecard.
• Linking Mission and Vision to operations.
• Application and uses of the Balanced Scorecard.
• The Financial, Customer, Process perspectives in detail.
• Overview of the Balanced Scorecard creation process.
• Strategy maps and Strategic Themes.
• Strategic Measures and Strategic Targets.

Day 2

Developing a Balanced Scorecard

• Create a strategy-centric organisation.
• The Learning & Growth perspective in detail.
• Define strategy, identify strategic themes and build strategic linkages.
• Engage the leadership team.
• Importance of data collection, interviews, and focus groups.
• Strategic documentation.
• Work with the Case Study.
• Strategic objectives and strategic themes.

Day 3

Monitoring Strategic Performance

• Purpose of strategic measures and their relationship with KPIs.
• Lead and lag measures.
• Develop appropriate measures using the Strategy Map.
• Examples of measures for each of the four perspectives.
• How to implement the Balanced Scorecard.
• Lag and lead measures.
• Determine measures and targets.
• Map strategic initiatives.
• Case study activities.

Day 4

Implementing A Balanced Scorecard

• Set appropriate stretch targets for each objective.
• The Strategic Management System and performance management.
• Map strategic initiatives for HR.
• Plan for implementation.
• Bring about successful change.
• Communicate the Balanced Scorecard.
• Develop appropriate targets using the Strategy Map and Measures.
• Cascade the Balanced Scorecard across the organisation.
• Strategy Review Meetings.
• Case study activities.

Day 5

Pulling it all together

• How to make it work in your organisation.
• Create an outline project plan.
• Identify key roles and key players.
• Case study activities.
• Top Tips for success.
• Create a personal plan of action.