Balanced Score Card
Balanced Score card from solomon people solutions , Use it in your business framework for tracking and managing your organization’s strategy and development
Medium of Instruction: English
Duration of the program: 16 hours
The Balanced Score card (BSC) is a ‘performance management’ tool which began as a concept for measuring whether the smaller-scale operational activities of a company are aligned with its larger-scale objectives in terms of vision and strategy. By focusing not only on financial outcomes but also on the operational, marketing and developmental inputs to these, the Balanced Scorecard helps provide a more comprehensive view of a business, which in turn helps organizations act in their best long-term.
Participants will understand the key concepts of the balanced scorecard, and why it is gaining so much attention in corporate, non-profit, and governmental organizations.
The Balanced Score Card (BSC) is a strategic planning and management method that aligns business operations with the organization’s vision and strategy, improves internal and external communications, and measures organizational performance against strategic goals. This two-day intensive training will provide attendees a thorough grasp of the BSC framework, its components, and how to successfully adopt it inside their business.
- Understand the Balanced Score Card’s ideas and concepts.
- Determine and identify your strategic objectives and key performance indicators (KPIs).
- Create a Balanced Score Card based on their organization’s strategic goals.
- Convert strategic goals into measurable performance measurements.
- Implement and monitor the BSC to promote performance enhancements.
- Integrate the BSC into the current strategic management and reporting systems.
- Communicate the benefits of the BSC to stakeholders.
- Senior Executives and Managers
- Strategy and Planning Professionals
- Performance Measurement Specialists
- Financial Managers and Controllers
- Human Resource Managers
- Project Managers
- Consultants in Strategic Management
- Any professional involved in strategic planning and performance management
Introduction to Balanced Score Card and Strategic Mapping
- Welcome and Introductions
- Course objectives
- Overview of the Balanced Score Card
- Session 1: Fundamentals of the Balanced Score Card
- History and evolution
- Key concepts and components
- Session 2: Strategic Planning and Mapping
- Defining vision, mission, and values
- Creating strategic maps
- Identifying strategic objectives
- Session 3: Developing Key Performance Indicators (KPIs)
- Characteristics of effective KPIs
- Aligning KPIs with strategic objectives
- Session 4: Case Study and Group Exercise
- Real-world examples
- Group activity on developing a strategic map
- Wrap-Up and Q&A
Implementing and Managing the Balanced Score Card
- Session 1: Designing the Balanced Score Card
- Developing scorecards for different organizational levels
- Integrating financial and non-financial measures
- Session 2: Implementation Strategies
- Change management and communication
- Overcoming common implementation challenges
- Session 3: Monitoring and Reporting
- Setting up performance dashboards
- Continuous monitoring and reporting
- Session 4: Review and Continuous Improvement
- Analyzing performance data
- Using BSC for continuous improvement
- Session 5: Case Study and Group Exercise
- Applying BSC in a simulated environment
- Group presentations
- Conclusion and Certification Ceremony
- Summary of key takeaways
- Feedback and evaluation
- Distribution of certificates
How you benefit attending this program?
- Strategic Insight: Develop a thorough knowledge of strategic planning and performance management.
- Practical Skills: Gain hands-on experience developing and implementing a BSC in their business.
- Career Advancement: Mastering a crucial management tool can boost your professional credibility and career possibilities.
- Networking Opportunities: Meet colleagues and professionals in strategic management.
- Personal Development: Improve critical thinking and analytical abilities.
How your company benefits by sponsoring you to this program?
By sponsoring you to this program, your organization will be able to:
- Enhanced strategy Alignment: Ensures that all levels of the company are in line with the overarching strategy goals.
- Improved Performance Measurement: Establishes a clear framework for assessing performance across several dimensions.
- Better Decision Making: Enables data-driven decision making and resource allocation.
- Increased responsibility: Clarifying roles and expectations leads to more responsibility.
- Effective Communication: Improves the communication of strategic objectives and performance outcomes throughout the company.