CATEGORY TYPE: Quality & Auditing

COURSE NAME:Balanced Scorecard - BSC


UPCOMING EVENTS


START DATE END DATE CITY/COUNTRY PRICE Request
This course can be scheduled at your convenience, to request this course please click here
INTRODUCTION:

At the highest level, the Balanced Scorecard is a framework to help organizations to clarify their vision and strategy and translate them into operational objectives that drive both performance and behavior. It is a management system that uses measurement to provide feedback on internal processes and external outcomes in order to improve strategic performance and operational results. The Balanced Scorecard has become established management best practice for many of the world’s leading businesses. We can conveniently think of BSC as consisting of 10 steps.

  • Clarify the vision.
  • Develop business unit.
  • Eliminate non-strategic investments.
  • Review business unit scorecards.
  • Communicate the Balanced Scorecard.
  • Establish individuals' performance objectives.
  • Updates long range plan.
  • Conduct annual strategy review.
  • 360 degree feedback.
  • Corrective actions

 

OBJECTIVES:

At the end of the Balanced Scorecard training course attendees will be able to:

  • Describe the structure and typical content of a Balanced Business Scorecard.
  • Translate an organization’s strategic themes and objectives into a Balanced Scorecard.
  • Use a Balanced Scorecard in a management-for-results environment.
  • Know how to use the Balanced Scorecard to align operational activity with strategy.
  • Use best practice approaches to overcome obstacles and challenges.
  • Understand the Change Management implications of implementing a Balanced Scorecard.

 

OUTLINE:

The structure, process and challenges of building, implementing and using a Balanced Scorecard to improve performance and to put strategy at the centre of key management processes and systems including incentive schemes and resource/budget planning activities.

 

BSC Introduction

  • Basics of BSC
  • Importance of a BSC
  • Monitoring BSC on real time
  • Importance of a drill-down system
  • Gathering data

BSC Business Objectives

  • Identify major objectives to be achieved

Measures

  • The metrics that will be used to measure success of the objectives

Targets

  • Specific target values for the measures

Initiatives

  • Projects or programs initiated to achieve the objectives.
  • Closing the issues

BSC Perspectives

  • Financial
  • Customer Satisfaction
  • Internal Processes
  • Growth and Learning
  • Others

BSC Inspiration
Vision and Mission

  • Align Vision and Mission to the activities

Strategy mapping

  • Cause and effect relationship

Identify suitable Metrics
SMART approach

  • Specific
  • Measurable
  • Achievable
  • Realistic
  • Timely

BSM

  • Track each metrics objectively
  • Department wise
  • Organizational wise
  • Performance scores
  • Perspectives scores

 

BSC Case Study

  • Managing BSC
  • Developing initiatives
  • Conclusions and recommendations based on facts
  • Overview of performance trending
  • Performance scores
  • Department Score Dials
  • Department Score Graphs
  • Department Trend Bar
  • Department Trend Lines
  • Department Traffic Lights
  • Department Frequency Charts

 

BSC Discussion

  • Perspective Score Dials
  • Perspective Score Graphs
  • Perspective Trend Bar
  • Perspective Trend Lines
  • Perspective Traffic Lights
  • Perspective Frequency Charts
  • Time Period Charts
  • Establish performance
  • Interpreting the graphs
  • Interpreting the reports
  • Generating BSC report
  • Presentation to class
  • Discussion
  • Conclusion

 

WHO SHOULD ATTEND:

All Managerial and Executive levels.

DURATION:
    • 5 Day(s)
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