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.
Highlights of the seminar include:
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Understanding how to use the Balanced Scorecard to drive improved performance
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Building a Balanced Scorecard from scratch
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Aligning your organisation around commons goals
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Stimulating activities and discussions
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Creating a personal action plan to drive performance improvement within your organisation
Objectives
After attending this seminar, delegates will be able to:
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Translate vision and strategy into practical action and improved organisational performance
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Understand how to monitor and manage strategic performance
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Design and build a Balanced Scorecard
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Drive operational performance improvement in line with strategy
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Communicate and manage change
Training Methodology
The workshop is based on a combination of interactive activities – group and individual exercises, case studies and discussions – along with formal inputs. Real examples are employed to illustrate how the techniques work in practice and a case study is used to demonstrate the end-to-end process of creating and implementing a Balanced Scorecard. Delegates also create a plan of action for applying lessons learned within their own organisations
Organisational Impact
The key benefits to organisations include:
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Turning the organisation’s vision into a practical reality
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Delivery of improved operational performance
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Aligning different elements of the organisation around a common strategy
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Development and communication of strategic measures
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Monitoring ongoing performance improvement
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Aligning strategic initiatives to organisation strategy
Personal Impact
The key benefits to delegates include:
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Deeper knowledge and understanding of the Balanced Scorecard
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A systematic methodology for developing and managing a Balanced Scorecard
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Practical experience in the use of the Balanced Scorecard
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Greater capability to monitor and drive performance improvement
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Understating of how to rollout a Balanced scorecard across an organisation
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A personal action plan for applying learning within their own organisation
The seminar will benefit:
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Executives
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Managers with responsibility for creating or managing a balanced scorecard
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Financial Officers and controllers
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Process Managers
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Strategic Planning Managers
SEMINAR OUTLINE
DAY 1
A Tool for Managing Strategic Performance
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Introduction to the Balanced Scorecard
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Benefits of the Balanced Scorecard
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Linking Mission and Vision to operations
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Application and uses of the Balanced Scorecard
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The Financial, Customer, Process perspectives in detail
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Overview of the Balanced Scorecard creation process
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Strategy maps and Strategic Themes
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Strategic Measures and Strategic Targets
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Lessons learned from Day 1
DAY 2
Developing a Balanced Scorecard
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Create a strategy-centric organisation
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The Learning & Growth perspective in detail
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Define strategy, identify strategic themes and build strategic linkages
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Engage the leadership team
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Importance of data collection, interviews and focus groups
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Strategic documentation
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Work with the Case Study
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Strategic objectives and strategic themes
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Lessons learned from Day 2
DAY 3
Monitoring Strategic Performance
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Purpose of strategic measures and their relationship with KPIs
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Lead and lag measures
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Develop appropriate measures using the Strategy Map
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Examples of measures for each of the four perspectives
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How to implement the Balanced Scorecard
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Lag and lead measures
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Determine measures and targets
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Map strategic initiatives
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Case study activities
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Lessons learned from Day 3.
DAY 4
Implementing A Balanced Scorecard
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Set appropriate stretch targets for each objective
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The Strategic Management System and performance management
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Map strategic initiatives for HR
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Plan for implementation
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Bring about successful change
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Communicate the Balanced Scorecard
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Develop appropriate targets using the Strategy Map and Measures
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Cascade the Balanced Scorecard across the organisation
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Strategy Review Meetings
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Case study activities
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Lessons learned from Day 4
DAY 5
Pulling it all together
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How to make it work in your organisation
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Create an outline project plan
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Identify key roles and key players
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Case study activities
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Top Tips for success
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Create a personal plan of action
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Lessons learned from the programme.