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Course Topics

The Balanced Scorecard Linking Strategy

Duration:

5 Day

Course Overview:

We can’t see the wood for the trees!” How often have you found yourself faced with trying to manage and direct your business by pouring through pages and pages of fine detail financial figures? Of course the finances are vital, but top teams who really succeed recognise that they need to look at their business performance from other “perspectives” as well. They need to drive by watching the “dashboard” rather than staring at the thousands of moving parts inside their corporate “engine”.

The “Balanced Scorecard – Linking Strategy to Action!” workshop offers delegates a proven approach to managing the business to achieve strategic success through focused measurement and control.

The Balanced Scorecard was developed in the early 1990s by Robert Kaplan and David Norton, to provide a new form of strategic management. The Balanced Scorecard consists of:​

  • a core of the business "strategy" or "vision"
  • four inter-related pillars to achievement of that strategy:
    • financial aspects of the company
    • business processes
    • learning and development
    • the customer
  • for each pillar, there are four components:
    • objectives
    • measures of achievement
    • targets (i.e.: percentage of the measure you are aiming for)
    • initiatives

All four pillars of achievement of the strategy are inter-related - e.g.: learning and development objectives must be related to improvement of customer service.

By way of example, a small shop selling food might produce a balanced scorecard based around a vision of providing a personalised service to local customers:

  • the financial aspect is expressed in terms of profit, turnover and stock levels
  • business processes are centred around personal service in the shop and home delivery for regular orders
  • learning and development involves recognising the changing nature of shopping (e.g.: more use of the internet)
  • the main focus of customer service is personal interaction and local knowledge

A balanced scorecard can then be produced (on a single sheet of paper) covering these four aspects.

Who should attend?

The programme is directly relevant to executives and managers responsible for reviewing and managing business performance e.g.:

  • Chief Operation Officers
  • Chief Finance Officers
  • Senior Departmental Managers
  • Strategic Planning Managers
  • Senior Executives
  • Senior Management

Course Content:

Day 1

  • The Balanced Scorecard: What Is It and Why Use It?
  • Balancing the corporate strategy
  • Traditional performance measurement techniques
  • The concept of the Balanced Scorecard – the 4 Perspectives
  • Examples of organisations that use a Balanced Scorecard

Day 2

  • The Balanced Scorecard Perspectives in Depth
  • Financial perspective: how do our stakeholders view us?
  • 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?

Day 3

  • Strategy, Action and Scorecards
  • Linking the Balanced Scorecard to Mission,
  • Objectives and CSFs
  • Identifying what really needs to be measured
  • Policy Deployment for linking strategic goals to operational actions
  • Using the Balanced Scorecard to drive improvement

Day 4

  • Building YOUR Balanced Scorecard
  • Key steps in implementing a Balanced Scorecard

Day 5

  • Roles and responsibilities in order to achieve change
  • Linking into to the rest of the organisation
  • Action planning for after the workshop

Personal Development:

  • Action planning - the essential next steps
  • Continuous professional development - what next?

By the end of this course you will be able to:

You will have acquired a “Balanced Scorecard Toolkit” to help you change the way you measure and manage performance in your business. Specifically, you will have learnt how to:

  • Identify financial, business process, customer satisfaction, and internal development measures that will support your strategy
  • Link operational actions to achieving your strategic goals and track performance
  • Plan the implementation of a Balanced Scorecard system

Follow on Courses:

Training Methodology:

The training process is based on a carefully planned mix of succinct tutor input - with practical illustration of tools and concepts, group work on case studies (all video based - and lively), feedback, and selective work on individual issues in pairs. Team involvement and working enable a strategy to be created from start to finish. The Training is based on the 4 mat systems to enable complete learning. There will also be some opportunity for role play. You will receive an electronic toolkit within the material for subsequent everyday use.

 
We can come to you !

Did you know Synergy can come to you and deliver this workshop ‘In Company’ at your own venue or location. If you have three or more people who you would like to benefit from attending this workshop our trainer can travel to you and deliver the same specification of course for your staff at a fraction of the overall cost.

If you’d like to know more about this option please contact us on 0121 605 7533 or email us at operations@groupsynergy.co.uk – our operations team manages all of our ‘In Company’ events and we can talk you though the logistics, pricing and whether you’d like the workshop as advertised here or something tailor made just for your business.

We have several packages on offer so contact us today.

What is Continuing Professional Development (CPD)?

Continuing Professional Development (CPD) is a personal commitment to keeping your professional knowledge up to date, improving your capabilities, proving commitment and competency in your profession. It focuses on what you learn and how you progress throughout your career, helping you gain more credibility within your industry, with your employer, clients and gain competitive edge over your peers.

Being actively committed to CPD may in the future:
  • Improve your Resume
  • Maintain professional recognition
  • Showcase your achievements, attributes and your brand
  • Accelerate your career prospects
  • Deliver job satisfaction: ensuring you are Career focused
  • Reassure your Employers and Stakeholders that you are upto date and competent
How do I gain CPD recognition:

By attending Synergy Courses you can be assured that attendance, completion and certification will be rewarded by CPD points. To help advance your professional status CPD recognition is awarded on both public workshops and in-house courses, being dependent on the number of hours spent learning. On request Synergy Training Group will provide a certificate of attendance for you to use as evidence and to attach to your record card.

A number of our courses are accredited, endorsed or approved by a number of Learning & Development and Professional Bodies and Associations for more detail please contact us at mail@groupsynergy.co.uk.

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