The Balanced Scorecard

Principles, practicalities, progress and pitfalls

Course overview

This course delivers an understanding of the principles, practicalities and pitfalls of implementing the balanced scorecard in the context of the business’ need to deliver strategic intent.

Programme

• Rationale for the emergence of the balanced scorecard and its key benefits
• Structure of the scorecard, the famous four perspectives and the pivotal role of strategy mapping
• Detailed business case studies covering early adopters and organisational cascades based on real life situations; using scorecard principles to manage the efficiency and effectiveness of executing strategic intent
• Practical syndicate exercises with opportunities for plenary review and discussion
• An overview of a number of key considerations that may hold back the successful adoption of a scorecard framework and its cascade throughout an organisation, for example the important role of technology and the need to align reward and recognition approaches to new performance measures
• The importance and use of personal action planning checklists and ‘prompt sheets’

What will you gain?

• A powerful structure for building strategy-focused performance management information that can be cascaded throughout the organisation, using the principles of the balanced scorecard
• An understanding of how vision, strategy, objectives, measures, targets, initiatives, key performance indicators (KPIs) and their ownership can be brought together into one comprehensive performance management framework
• Insights into the critical role of strategy maps and how to create them, not only as a fundamental building block of scorecard design, but also as a powerful means of effective communication of strategic intent throughout the organization
• The ability to explore the potential for application or improvement of the balanced scorecard in your own business
• An awareness of the broader organisational, technological, performance review process, people skills, and cultural issues associated with successful balanced scorecard implementation
• A self-help guide for the critical evaluation of the relevance and practical application of the balanced scorecard to your own organisation

Who will benefit?

• Chief executives and others concerned with defining, articulating, communicating and delivering their business unit’s strategy
• Finance directors and others responsible for the preparation, analysis and presentation of financial and non financial information
• IT directors needing to ensure that the IT strategy delivers performance management information in line with the strategic and operational needs of the business

Trainer

• Gary Ashworth.