Balanced Scorecard (BSC) is a long term strategic tool that translates a company’s vision and strategy into day to day operations by articulating the outcomes an organization desires and the drivers of those outcomes. This tool refocuses the traditional corporate management system from being a short-termed control oriented financial framework to a long-term framework involving all employees. Numerous organizations have proclaimed the benefits of the use of the BSC. Before the BSC is implemented it must first be understood. Management training therefore is absolutely necessary. It is beneficial for a company to use the methodology of the BSC to create a strategic Management System.
- Course Introduction
- Pre- Course Assessment
- What is the Balanced Scorecard?
- Definition and Framework
- Benefits of BSC
- Key Questions the BSC Seeks to Answer.
- An Overview of your Organization’s Vision and Mission.
- Key Performance Indicators (KPI) of your Organization and Functional Divisions
- General Discussion
- The Four Perspectives of BSC
- Demonstration/Illustrations with Examples
- Outcome Metrics
- Management by Fact
- How BSC is Implemented.
- How Groups Produce Higher Quality Balanced Scorecards than Individuals.
- An Illustration of a General Balanced Scorecard Strategy MAP.
- Group Exercise.
- Project Assignment
- Building a Balanced Scorecard by Group
- Cascading the BSC throughout the Organization and Aligning Strategy and Work
- The Balanced Scorecard as a Knowledge. Management tool: A French experience in a Semi-Public and Insurance Company.
- Review and Analysis
- Linking the BSC to Strategic Management Activities.
- Linking Leading and Lagging Indicators with Budgets and Strategy Objectives
- Performance Measurement of Insurance Companies by using the Balanced Scorecard and Analytical Network Process (ANP).
- Group Project and Post Course Assessment
- Presentation, Closing Remarks and Photograph
On Completion of the workshop, participants should
- Be capable of describing the Balanced Scorecard.
- Explain the conceptual framework of Balanced Scorecard
- Identify the key performance indicators of various departments and the organization as a whole
- Be capable of aligning the BSC and cascading the BSC throughout the Organization.
- Be competent to discuss the benefits and challenges of the BSC.
- Provide BSC performance Measure
- Design a BSC Model for an organization.
- List the steps in implementing a BSC system.
Supervisors and Managers in an Organization