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Using Strategy Maps + Balanced Scorecard

How to Achieve Superior Performance & Strategic Success

A Two-Day Seminar

Dates and Locations

For years, senior leaders have struggled to use financial-driven performance management systems to achieve operational and strategic goals. The Balanced Scorecard is a proven approach to strategic management that imbeds long-term strategy into your management system through the mechanism of measurement. You will learn how to:

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

	How a Balanced Measurement System Can Drive Sustainable Strategic and Operational Success
	You’ll Benefit Most From This Seminar If You Are A...
	Seminar Outline
	What You Will Learn

This seminar is approved for 13 PDU credits by the Project Management Institute (PMI). Registered Education Providers agree to abide by PMI-established operational and educational criteria, and are subject to random audits for quality assurance purposes.

"In essence, a corporate scorecard is a sophisticated business model that helps a company understand what’s really driving its success."

-- Joel Kurtzman
Forbes

       

 

How a Balanced Measurement System Can Drive Sustainable Strategic and Operational Success

"What gets measured gets done." It’s a business axiom you’ve heard a thousand times. Unfortunately, the things most companies measure (short-term financial performance and local productivity) don’t determine long-term success in a competitive marketplace.

In order to achieve and sustain strategic success via operational excellence, your performance management system must balance:

• Customer metrics

How your customers view you

• Business process metrics

How well your core processes produce value

• Internal development metrics

How your company learns and grows

• Financial metrics

How well your company meets shareholder needs

And, these metrics must be aligned to focus on corporate vision and strategy.

In 1992, Robert Kaplan of Harvard Business School and David Norton of Renaissance Solutions introduced the Balanced Scorecard (BSC), a complement to traditional financial measurement systems that helped companies manage performance and progress. This tool has evolved into a strategic management system that can help you achieve and sustain strategic success as the business environment changes.

Using the Balanced Scorecard 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 business
• 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

The Balanced Scorecard represents a breakthrough in the ways operational performance and strategic progress are stimulated and managed. Put it to work for your company. Act now! Enroll yourself and a team of key leaders today!

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You’ll Benefit Most From This Seminar If You Are A. . . .

• Senior executive responsible for making strategic decisions
• Chief Financial Officer or Controller
• Executive, manager or director accountable for both operational performance and achieving strategic objectives
• Coordinator of a project-based improvement program such as MBO or TQM
• Leader who manages your company’s performance appraisal/management system
• Member of a strategic planning task force

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Using the Balanced Scorecard: How to Achieve Superior Performance & Strategic Success

SEMINAR OUTLINE

I. Scorecard Fundamentals

1. The BSC and the Big Picture
2. The Strategic Process
3. Linking Performance Measures to Strategy
4. The Four Measurement Perspectives
5. Implementation Roles and Responsibilities
6. The BSC Implementation Process

II. Charting Strategic Direction

1. Vision and Mission Statements
2. Defining Strategic Objectives
3. Linking Strategic Objectives
4. The Strategy Map
5. Evaluate Cause-and-Effect Linkages
6. Catchball with Implementation Team

III. Building the BSC - Analysis

1. Measurement Development Process and Format
2. Analyzing Data
3. Structure and Produce First Scorecard
4. Catchball with Executives

IV. Building the BSC - Revision

1. Revise Categories
2. Plan for Collection of Missing Data
3. Set Targets
4. Initiatives, the Strategy Map and Targets

V. Building the BSC - Deployment

1. Operationalizing the BSC
2. BSC Implementation Checklist
3. Barriers to Implementation
4. BSC Readiness Assessment

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WHAT YOU WILL LEARN

17 Critical Questions This Seminar Answers

1. Why are most companies unable to link short-term actions with long-term strategy?
2. What is the Balanced Scorecard and how can it be used as a systematic process to implement strategy?
3. How can I balance financial measures with non-financial measures, strategic management with tactical management, and short-term focus with long-term vision?
4. What are the four processes that convert the Balanced Scorecard from a performance management tool to a tool for deploying and refining strategy?
5. What are the four perspectives a Balanced Scorecard integrates and how do I link them to my company’s vision and strategy?
6. How does the systematic management of internal development, business processes and customer relationships result in improved financial results?
7. Why does a balanced performance management system foster both operational and strategic success?
8. Why can the Balanced Scorecard be the key success factor for a company that has been frustrated by MBO-style management approached?
9. How can my company translate strategy into local objectives and measures that influence individual and group priorities?
10. When and how should Balanced Scorecard measures be linked to compensation and reward systems?
11. How do we use the Balanced Scorecard to communicate and clarify our corporate strategy?
12. Which organizations are successfully using the Balanced Scorecard to drive improved operational performance and sustainable strategic success?
13. Why is it important for my company’s measurement system to contain both performance driver (lead) indicators and core outcome (lag) indicators?
14. How do I determine the appropriate lead indicators that drive operational performance toward lag objectives?
15. What are the three most common barriers to Balanced Scorecard success and how do I avoid them?
16. How long will it take for my company to design and rollout its Scorecard?
17. How will the Balanced Scorecard help my company consistently implement an evolving strategy in response to changes in the competitive environment?

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