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
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.
Introduction
- Introductions, expectations, and participant knowledge
- Workshop objectives
- Agenda, schedule, and logistics
- Definitions and references
- Introduction to the examples, case study
- Group exercises
- performance measurement
Building a Scorecard System
- Introduction to performance management and measurements
- Balanced scorecard concept, origin and history
- Reasons for undertaking a balanced scorecard project
- Similarities and differences among BSC and other performance systems
- Advantages of using BSC performance systems
- Contrast private sector, public agency and nonprofit use of scorecards
- Key questions the BSC seeks to answer
- The nine-step methodology for building and implementing a balanced scorecard project i.e. Assessment, Strategy, Strategic Objectives, Strategy Mapping, Performance Measures and Targets, and Strategic Initiatives
- Guidelines for assembling the Scorecard Components Scorecard roll-out and example
Implementing a Balanced Scorecard
- Aligning strategy and work throughout the organization
- Implementing the scorecard system
- Automation, cascading and evolution
- Collecting, verify and validating performance data
- Transforming data into information
- Software options for managing performance information
- Cascading the scorecard throughout the organization
- Employee motivation
- Linking strategy to resource decisions
- Linking performance to rewards
- Using performance information to improve organization performance
- The scorecard as a learning framework
Communication and Change Management
- Engaging employee hearts and minds
- The internal change journeys
- Leading sustainable change
- Guidelines for communicating scorecard plans and results
Facilitating the Scorecard Process
- Challenges
- Basic elements of facilitation
- Decision-making methods
