Course Description

Balanced Scorecard (BSC) is a strategic management system that enables organization to set, track, and achieve its key business strategies and objectives. It translates a company’s vision and strategy into a coherent set of performance measures. After the business strategies are developed, they are deployed and tracked through the Four Legs of the BSC. These four legs comprise four distinct business perspectives: The Customer Leg, the Financial Leg, the Internal Business Process Leg, and the Knowledge, Education, and Growth Leg. These four legs of the BSC are necessary for today’s business executives and managers to be able to plan, implement, and achieve their business strategies. 

Topics covered by the course include: Basic concepts of the BSC and how it can be used to improve organization’s performance, how BSC applies to different types of organizations, how to build and implement a BSC using the nine-step methodology, how to develop meaningful performance measures and targets, how a scorecard system can drive the performance-informed budget and accountability, how to get performance information throughout the organization to better informed decision making through scorecard automation, how to cascade the scorecard to all levels of an organization, how to design and implement a scorecard where other frameworks have already been introduced, how to revise poorly designed scorecard elements, how to overcome obstacles and real world challenges, how to evaluate planning documents and processes.

Course Goal

To enhance participant’s competency necessary to set, track, and achieve his company’s key business strategies and objectives.

Course Objectives

By the end of the course, participants will be able to:

• Explain the concept, origin, and utility of the BSC.
• Explain the concepts of performance measurement and strategic management.
• Explain the reasons for adopting a BSC system.
• Describe a typical BSC cycle.
• Discuss indicators of successful systems.
• Identify the time periods for a scorecard project.
• Identify and apply the six steps needed to build a scorecard system. 
• Describe the building of a BSC.
• Identify and apply the three steps needed to implement the system.
• Describe the implementation of the BSC system, including the use of data systems to communicate performance information, the cascading of the system throughout the organisation, and the use of scorecard information to improve performance.
• Address the challenges of integrating BSC systems with other enterprise-wide systems and set out ways of overcoming challenges to implementation.
• Identify how his scorecard is “on track.
• Apply the BSC to his organization’s needs, indicating specific issues that need to be addressed.

Who Can Benefit

All who are part of a BSC development team, and are seeking the best practical ideas for improving organizational performance.