Improving Performance Through the Balanced Scorecard

A management system built around a Balanced scorecard is a proven approach to management that uses an integrated set of processes and tools to develop strategy, translate it into operational actions, then measure and improve the effectiveness of both. Improving Performance through a Balanced Scorecard will give you the information to develop new management processes for your company

Course Objectives

• Develop strategy
• Translate strategy into objectives, themes and initiatives
• Select appropriate measures and targets
• Plan operations
• Hold strategy reviews using Balanced scorecard performance metrics
• Hold operational reviews using performance metrics in dashboards and financial reports
• Conduct profitability and strategy correlation analyses
• Identify improvements to strategy that will improve corporate performance

Course Outline

MODULE 1 - Developing a Strategy

• Introduction to Strategy and Strategic Management
• Origin and evolution of the Balanced scorecard into a strategic management system
• What type of strategy: Competitive, Resource-Based, Blue Ocean, Disruptive, or Emergent?
• Mission, Vision and Values
• Clarifying the vision and gaining agreement
• Strategic Analysis
• Formulating strategy

MODULE 2 - Translating Strategy into Action

• Using a Balanced scorecard to thrive in the new business environment
• Strategy Maps: converting intangible assets into tangible outcomes
• Linking strategy to operations for competitive advantage
• Communicating the vision
• Linking rewards to performance measures
• Defining strategic objectives and themes
• Selecting measures and targets
• Selecting and aligning strategic initiatives
• Allocating resources
• Case Study

MODULE 3 - Planning and improving operations

• Establishing milestones
• Process Improvement
• What is a process-centred organisation?
• Lean
• Six Sigma
• Identifying key processes
• Improving key processes
• Budgeting and Planning Resource Capacity
• Time-driven activity-based costing
• Developing budgets and sales plans
• How to break free from the annual performance trap
• Strategic feedback
• Case study

MODULE 4 - Measuring and improving strategy and operations performance

• Performance Dashboards: Measuring, Monitoring, and Managing Your Business
• Using Strategically Linked Performance Measures
• The role of business analytics
• Profitability analysis
• Strategy correlation analysis
• Managing emergent strategy
• Strategic analysis and improvement - closing the loop
• Facilitating strategy review and learning
• Case Study

MODULE 5 - Developing your strategic management system

• Applying the system to your organisation
• Developing your objectives
• Creating a personal action plan
• Concerns, ideas and questions
• Commitment to action
• Programme review

Course Methodology

A variety of methodologies will be used during the course that includes:

• (30%) Based on Case Studies
• (30%) Techniques
• (30%) Role Play
• (10%) Concepts
• Pre-test and Post-test
• Variety of Learning Methods
• Lectures
• Case Studies and Self Questionaires
• Group Work
• Discussion
• Presentation