Step-by-Step Building of a Balanced Scorecard
Topics Covered in Course
- Balanced scorecard framework
- Establishing a strategic foundation and objectives
- Identifying key ingredients for a clear and concise strategy
- Recommended maximum objectives identified
- Ultimate goal of balanced scorecard
- Employees linked to execution
- How does a performance prism differ
- Enablers identified and reviewed
- Identifying value chain aspects
- Strategy grids and impacts
- Lagging indicator examples
- Cause and effect relationships established
- Deploy and cascade techniques
- Defining measurable indices and targets
- Cross functional impacts
- Communication to stakeholders
- Making it a core competency
- Real-world application and examples
- Balanced Scorecard Framework Flow
- Execution to Strategy Template
- Strategy and Impact Grid Template
- Balanced Scorecard Diagram
- Balanced Scorecard Example
Detailed Course Description
At long last, strategic planners now have a crisp and clear way of communicating strategy. With Balanced Scorecards, strategy reaches everyone in a language that makes sense. When strategy is expressed in terms of measurements and targets, employees can better relate to what must happen. This leads to a much better execution of strategy.
Not only does the Balanced Scorecard transform how the strategic plan is expressed, but it also pulls everything together. Strategy is the foundation around which all other organizational activities take place. Organizations need a framework for integrating strategy into all parts of their business. Balanced Scorecards provide the framework by which an organization executes its strategy.
This online course will lay the groundwork for building your Balanced Scorecard and also go through all the steps needed to allow your organization to align around a clear and concise strategy. From that strategy, we’ll be able to translate your strategic objectives into a set of grids connected over four perspectives: financial, customer, internal processes, and learning/growth. Once completed, we’ll apply real-world scenarios to Balanced Scorecards and provide you with the techniques and templates used to apply it within your own organization.
This course is SCIP Endorsed and part of SCIP On Demand Certification
SCIP certification is part of your subscription cost.
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