Introduction

For years, leaders have struggled to use financially driven performance management systems to achieve operational and strategic goals. The Balanced Scorecard offers a proven approach to management that embeds long-term strategy into your management system through measurement.

Using the Balanced Scorecard (BSC) will show you how to apply and adapt this system at your company. Specifically, you will learn how to:

• Adjust the four BSC perspectives to your environment
• Select lag and lead measures that make sense for your organisation
• Link operational and strategic objectives
• Integrate BSC with other measurement tools and techniques
• Exploit the Balanced Scorecard as a strategic management system
• Identify and implement sustainable strategic improvements

Objectives

• Translate vision and strategy into performance management
• Communicate strategic intent throughout your organisation
• Identify financial, business process, customer satisfaction, and internal development metrics that support corporate strategy
• Track performance against established strategic and operational goals
• Manage cross-functional process performance
• Identify improvements that will impact corporate success

Who Should Attend

• Senior executives
• Chief operation officers
• Financial officers and controllers
• Process managers
• Strategic planning task force members

Seminar Outline

Introduction

• Seminar objectives
• The Balanced Scorecard: What is it?
• Why organisations use a Balanced Scorecard (BSC)
• Relationship of BSC to “traditional” measurement systems such as MBO or SPC

Scorecard Fundamentals

• Financial perspective: How do we look to shareholders?
• Customer perspective: How are we seen in the marketplace?
• Internal business process perspective: Where must we excel?
• Learning and growth perspective: How can we improve and evolve?
• Linking the perspectives to vision and strategy
• Lag versus lead measures

Building the Balanced Scorecard

• Road map to implementation: What’s the process?
• Roles and responsibilities
• Identifying the appropriate corporate “unit”
• Determination of goals
• Establishing measures to support goals
  • System mapping
  • Hoshin planning tools
• Selecting the “correct” format
  • Traditional
  • Integrated with quantitative tools
• Connecting the scorecard to other corporate units

Using the Balanced Scorecard as a Management System

• Managing strategy: Four processes
• Impact of BSC on operational decisions
• Linkage of BSC to compensation
• Revising scorecard measures
• Communication of progress
  

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email info@oxford-management.com