Course Description
This intensive 5-day course equips participants with the knowledge and skills to develop and implement effective strategic plans using the Balanced Scorecard methodology. Attendees will learn to align organizational objectives, develop key performance indicators, and drive performance across multiple perspectives.
Learning Objectives
- Understand the principles and components of the Balanced Scorecard
- Develop strategic objectives and create strategy maps
- Design and implement effective performance measures and KPIs
- Align organizational resources with strategic priorities
- Learn to cascade the Balanced Scorecard throughout the organization
- Develop skills to monitor and adapt strategy execution
Course Modules
Day 1: Introduction to Strategic Planning and Balanced Scorecard
- Overview of strategic planning concepts
- Introduction to the Balanced Scorecard framework
- The four perspectives: Financial, Customer, Internal Processes, Learning & Growth
- Benefits and challenges of implementing a Balanced Scorecard
Day 2: Developing Strategic Objectives and Strategy Maps
- Defining organizational vision and mission
- Identifying strategic themes and objectives
- Creating cause-and-effect relationships
- Constructing strategy maps
- Aligning objectives across perspectives
Day 3: Designing Performance Measures and KPIs
- Characteristics of effective performance measures
- Developing lead and lag indicators
- Setting targets and thresholds
- Balancing financial and non-financial measures
- Creating a measurement framework
Day 4: Cascading the Balanced Scorecard and Strategic Initiatives
- Cascading strategies to business units and departments
- Aligning individual goals with organizational objectives
- Identifying and prioritizing strategic initiatives
- Resource allocation and budgeting
- Developing action plans and timelines
Day 5: Implementation, Monitoring, and Adaptation
- Implementing the Balanced Scorecard: best practices and pitfalls
- Establishing a performance management system
- Monitoring and reporting on strategic progress
- Adapting the strategy based on performance feedback
- Continuous improvement and strategy refinement
Practical Wins for Participants
- Develop a draft strategy map for their organization
- Create a set of balanced KPIs aligned with strategic objectives
- Design a cascading plan to align departments and individuals
- Construct an implementation roadmap for Balanced Scorecard adoption
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
