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Balanced Scorecard
The Way Forward to a BREAKTHROUGH Strategy Execution
Successfully design, use and sustain the BSC within your organisation. Incorporating the KEY STEPS to Balanced Scorecard development & Implementation

2010
TOP

7 Objectives

1. Gain a comprehensive understanding of the latest Balanced

Scorecard developments 2. Learn to manage an entire strategic management programme from design to implementation 3. Define and implement appropriate measures for Balanced Scorecard 4. Use Balanced Scorecard effectively as a tool to translate the strategic goals of your organisation into reality 5. Aligning people to BSC through strategic kpis 6. Understand the process of integrating the Balanced Scorecard into your existing organizational systems 7. Learn the techniques for Balanced Scorecard sustainability to ensure long-term success

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FEW Key Questions Every Business Manager Should Be Asked: 1. Does my organisation have a clear, agreed and measurable understanding of its future overall objectives? Where do we want to be in the next 3- 5 years? 2. Does my organisation have clear and realistic strategies to achieve those objectives? 3. Is there a consensus on the broad strategy of my company within the senior management team? 4. How do I align my people to the overall corporate objective? 5. Do all the relevant people have a correct understanding of the business strategy Sadly, the answer for far too many organisations is... NO, NO, and NO. The Balanced Scorecard is now widely used globally by forward thinking organisations that recognize that NO is unacceptable. Plus two further key questions for those organisations already using the BSC: 1. Am I fully satisfied that the design and contents of our BSC really meet the requirements of management to help them in executing the strategy? 2. Even more importantly am I fully satisfied that my organisation extracts all maximum value from our Scorecards? 3. How do I define success in my BSC implementation? According to Dr Robert Kaplan, less than 10% of formulated strategies are executed effectively. Therefore the importance of the Balanced Scorecard (BSC), a seminal strategic management tool to help organisations understand and implement their strategic objectives has never been more important. In the 17 years since its inception the BSC has revolutionized businesses all around the world and helped strategy execution become reality not just a dream. The BSC provides a framework for defining, implementing and sustaining organisational strategy across all levels of an organisation by linking strategy to a performance measurement and management system. It is designed to translate an organizations mission and vision statement and overall business strategy into specific, quantifiable targets and to monitor the organizations performance in terms of achieving those goals. It is widely considered to be The Strategic Management Tool of choice. However, whilst the underlying logic of the Balanced Scorecard concept is widely acknowledged, and whilst it has been widely applied since its introduction in 1992, it is also widely accepted that far too many BSC applications fail to achieve their full business potential.

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Strategy - Meaning , Importance and Implication Vision , Mission and Values - meaning , correlation with Strategy The purpose of each of these classic management statements supported by examples How they fit into the development of the Balanced Scorecard

A Glimpse of Proven Analytical techniques prevalent SWOT PEST 5-FORCES COMPETITOR ANALYSIS How these tools fit into achieving Strategy of the organisation. Business benefits: does it work..? Does BSC translate the strategy into action? How? Omnipresence of the established technique across sectors, geographies, industries How organisations typically apply the BSC including the cascade of Scorecards and how to attain line-ofsight alignment between individual employees and the overall corporate objectives Application - BSC Linked to other strategy management tools, its advantage over other tools

.com/BSC2010Module 3 Strategy Map Development

Stages in a BSC development - dashboard development and BSC development Defining cause and effect diagrams that set out a diagrammatic picture of the organizations strategy. The concept appears very easy but in practice is often very different Projects/Action Plans Development, mapping to strategic objectives and further, prioritization. How do you develop a strategy map that correctly represents the real strategy of the business?
value within the next 12 months. Each participant will also receive a Certificate of Participation after attending this course.

Developing strategic objectives along the four perspectives of the BSC a. Financial b. Customer c. Internal Process d. Learning & Growth CSF for Success of a BSC implementation - including reviews, roll of different stakeholders How to make your BSC dynamic? BSC Review Process - Who should be involved, periodicity and discipline Automating the Review Process Development of Full Scorecard - Methodology and examples Setting Key Measures, Performance Targets V/S Actuals and ascertaining Data Accountability Cascading and aligning the measures to business units and departments

Case Study on Building the BSC for and organisation Setting Targets, Key Measures and associated Action Plans

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