MENU Using Strategy Maps and the Balanced Scorecard to Improve Performance
How to Coordinate, Communicate and Execute Winning Strategies
A Two-Day Seminar
“In essence, a corporate scorecard is a sophisticated business model that helps a company understand what’s really driving its success.”
– Joel Kurtzman, Forbes
According to MIT, a recent survey of global CEOs revealed that the ability to execute strategy was their number one challenge. This is not a new development. 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 embeds long-term strategy into your management system through the mechanism of measurement. The Strategy Map is a one-page blueprint that clarifies and communicates how various departments and initiatives must “fit together” to achieve corporate goals. Together, these tools enable you to close the gap between strategic aspirations and day-to-day operations in today’s dynamic business environment.
What You Will Learn
- Customer metrics: How your customers view you
- Business process metrics: How well your core processes produce value
- Internal development metrics: How your company learns, grows and leverages technology
- Financial metrics: How well your company meets shareholder needs
- 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
- Select lag and lead measures that make sense for your business
- Link operational and strategic objectives
- Track performance against the established strategic and operational goals
- Manage cross-functional process performance
- Identify improvements that will impact corporate success
- Focus day-to-day operations on strategic imperatives
- Execute strategies and achieve your strategic goals
Seminar Outline
I. Scorecard Fundamentals
- The BSC and the Big Picture
- The Strategic Process: Linking Performance Measures to Strategy
- The Four Measurement Perspectives
- Implementation Roles and Responsibilities
- The BSC Implementation Process
II. Charting Strategic Direction
- Vision and Mission Statements
- Defining Strategic Objectives
- Linking Strategic Objectives
- The Strategy Map
- Evaluate Cause-and-Effect Linkages
- Catchball with Implementation Team
III. Building the BSC – Analysis
- Measurement Development Process and Format
- Analyzing Data Structure and
- Produce First Scorecard Catchball with Executives
IV. Building the BSC – Revision
- Revise Categories
- Plan for Collection of Missing Data
- Set Targets
- Initiatives, the Strategy Map and Targets
V. Building the BSC – Deployment
- Operationalizing the BSC
- BSC Implementation
- Checklist Barriers to Implementation
- BSC Readiness Assessment
Who Should Attend
- 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 Management By Objectives (MBO) Six Sigma or Lean
- Leader who manages your company’s performance appraisal/management system
- Member of a strategic planning task force