Balanced Scorecard Basics
Balanced Scorecard Basics
HR Best Practices for Line Leaders Series
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Over the past few decades, organizations have come to realize that success in business can not only be measured in terms of financial outcomes. A huge portion of the company's assets are intangible like a company's brand, customer mindset, the processes and procedures, the knowledge base created by employees and training initiatives. Hence, organizations need a tool to help them measure this expanded definition of success. The Balanced Scorecard is the answer to this need.
The Balanced Scorecard is more than just a new measurement system. It is now used as the central/core framework for management processes. As a strategic planning and management system, it is used extensively in business and industry, government, and nonprofit organizations worldwide. It aligns business activities to the vision and strategy of your organization, improve internal and external communications, and monitor organization performance against strategic goals. Learn to transform your organization’s strategic plan to action plans, linking and aligning organizational to individual action plans.
This course aims to provide feedback between your internal business processes and external outcomes in order to continuously improve strategic performance and results.
After the course, you will:
1. Discover the core factors that give life to performance management systems used by different organizations and share their best practices;
2. Understand what a balanced scorecard is and its benefits to the organization;
3. Explore what changes caused the balanced scorecard to evolve;
4. Provide an overview of the balanced scorecard process;
5. Review a sample strategy map, scorecard and tactical action plan;
6. Understand the organizational vision, mission and values and how they fit into the balanced scorecard process;
7. Develop checklists for creating training plans, project plans, communication plans and core processes; and
8. Be equipped on how to build a balanced scorecard team.
|Who should attend||
The program is designed for supervisors, managers, business heads, and employees involved in performance and strategic management system who have zero or minimal knowledge about the balanced scorecard.
I. Understanding the balanced scorecard
A. What is the balanced scorecard?
B. What are the benefits of the balanced scorecard?
C. What are the common balanced scorecard pitfalls and how to avoid these?
D. Is the balanced scorecard right for you?
II. Overview of the balanced scorecard process
A. The big picture
B. Sample strategy map
C. Sample balanced scorecard
D. Sample tactical action plan
III. Creating a project vision statement
A. Why is the balanced scorecard needed?
B. Making a statement
IV. Understanding organizational vision, mission, and values
A. Building blocks of the balanced scorecard
B. Analyzing vision, mission, and values statements
V. Plans and processes
A. Preparing project, training, and communication plans
B. Checklist of processes
VI. Building balanced scorecard teams
|Dr. Rosario C. Alzona||
is an independent organization development consultant. Some of her responsibilities include: organizational assessment, culture management, change management, strategic operational planning, procedures formulation, and learning & development.