Strategic Planning using Balanced Scorecard

Strategic planning utilizing the Balanced Scorecard involves a comprehensive and balanced approach to organizational performance measurement and management. The Balanced Scorecard framework, developed by Kaplan and Norton, integrates financial and non-financial metrics to assess and guide an organization's strategic objectives. It consists of four perspectives: financial, customer, internal processes, and learning and growth. In this strategic planning process, organizations define clear objectives and key performance indicators (KPIs) for each perspective, aligning them with the overall strategy.

Program Objectives

• Design and build a Balanced Scorecard
• Understand how to monitor and manage strategic performance.
• Translate vision and strategy into practical action and improve organisational performance.
• Drive operational performance improvement in line with the strategy.
• Communicate and manage change.

MODULES

Module 1: A Tool for Managing Strategic Performance

• Introduction to the Balanced Scorecard
• Benefits of the Balanced Scorecard
• Linking Mission and Vision to operations
• Application and uses of the Balanced Scorecard
• The Financial, Customer, Process perspectives in detail
• Overview of the Balanced Scorecard creation process
• Strategy maps and Strategic Themes
• Strategic Measures and Strategic Targets

Module 2: Developing a Balanced Scorecard

• Create a strategy-centric organisation.
• The Learning & Growth perspective in detail
• Define strategy, identify strategic themes, and build strategic linkages.
• Engage the leadership team.
• Importance of data collection, interviews, and focus groups.
• Strategic documentation
• Work with the Case Study
• Strategic objectives and strategic themes

Module 3: Monitoring Strategic Performance

• Purpose of strategic measures and their relationship with KPIs
• Lead and lag measures
• Develop appropriate measures using the Strategy Map
• Examples of measures for each of the four perspectives
• How to implement the Balanced Scorecard
• Lag and lead measures
• Determine measures and targets.
• Map strategic initiatives
• Case study activities

Module 4: Implementing A Balanced Scorecard

• Set appropriate stretch targets for each objective.
• The Strategic Management System and performance management
• Map strategic initiatives for HR
• Plan for implementation
• Bring about successful change.
• Communicate the Balanced Scorecard
• Develop appropriate targets using the Strategy Map and Measures
• Cascade the Balanced Scorecard across the organisation.
• Strategy Review Meetings
• Case study activities

Module 5: Pulling it all together.

• How to make it work in your organisation
• Create an outline project plan.
• Identify key roles and key players.
• Case study activities
• Top Tips for success
• Create a personal plan of action.
• Lessons learned from the programme.

Certification

Upon successful completion of the training, participants will be awarded Cynet East Africa Consultancy certificate.

N/B

Online classes available at USD 710.

Training facilitated by Cynet East Africa Consultancy seasoned trainers.