Course: Strategic Planning Using the Balanced Scorecard: Turning Strategy into Reality

SEMINAR OUTLINE 

DAY 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
• Lessons learned from Day 1

DAY 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
• Lessons learned from Day 2

DAY 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
• Lessons learned from Day 3.

DAY 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
• Lessons learned from Day 4

DAY 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

The Scandinavian Academy for Training and Development employs modern methods in training and skills development, enhancing the efficiency of human resource development. We follow these practices:

• Theoretical Lectures: 
  • We deliver knowledge through advanced presentations such as PowerPoint and visual materials, including videos and short films.
• Scientific Assessment:
  • We evaluate trainees skills before and after the course to ensure their progress.
• Brainstorming and Interaction: 
  • We encourage active participation through brainstorming sessions and applying concepts through role play.
• Practical Cases:
  • We provide practical cases that align with the scientific content and the participants specific needs.
• Examinations: 
  • Tests are conducted at the end of the program to assess knowledge retention.
• Educational Materials:
  • We provide both printed and digital scientific and practical materials to participants.
• Attendance and Final Result Reports:
  • We prepare detailed attendance reports for participants and offer a comprehensive program evaluation.
• Professionals and Experts: 
  • The programs scientific content is prepared by the best professors and trainers in various fields.
• Professional Completion Certificate: 
  • Participants receive a professional completion certificate issued by the Scandinavian Academy for Training and Development in the Kingdom of Sweden, with the option for international authentication.
• Program Timings:
  • Training programs are held from 10:00 AM to 2:00 PM and include coffee break sessions during lectures.

Introduction

The Balanced Scorecard puts strategy at the heart of your organisation, allowing you to focus 100% of your employees’ effort on the achievement of company objectives. It provides a powerful framework for the rapid and effective implementation of strategy, delivering breakthrough performance improvement.

Highlights of the seminar include:

• Understanding how to use the Balanced Scorecard to drive improved performance
• Building a Balanced Scorecard from scratch
• Aligning your organisation around commons goals
• Stimulating activities and discussions
• Creating a personal action plan to drive performance improvement within your organisation

Objectives

After attending this seminar, delegates will be able to:

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

Training Methodology

The workshop is based on a combination of interactive activities – group and individual exercises, case studies and discussions – along with formal inputs. Real examples are employed to illustrate how the techniques work in practice and a case study is used to demonstrate the end-to-end process of creating and implementing a Balanced Scorecard. Delegates also create a plan of action for applying lessons learned within their own organisations

Organisational Impact

The key benefits to organisations include:

• Turning the organisation’s vision into a practical reality
• Delivery of improved operational performance
• Aligning different elements of the organisation around a common strategy
• Development and communication of strategic measures
• Monitoring ongoing performance improvement
• Aligning strategic initiatives to organisation strategy

Personal Impact

The key benefits to delegates include:

• Deeper knowledge and understanding of the Balanced Scorecard
• A systematic methodology for developing and managing a Balanced Scorecard
• Practical experience in the use of the Balanced Scorecard
• Greater capability to monitor and drive performance improvement
• Understating of how to rollout a Balanced scorecard across an organisation
• A personal action plan for applying learning within their own organisation

The seminar will benefit:

• Executives
• Managers with responsibility for creating or managing a balanced scorecard
• Financial Officers and controllers
• Process Managers
• Strategic Planning Managers