Strategic Planning with the Balanced Scorecard

Introduction:

The Balanced Scorecard positions strategy at the heart of your organization, aligning every individual’s efforts with the company’s goals. This Strategic Planning Course provides a streamlined approach to implementing the Balanced Scorecard, facilitating rapid and impactful strategic planning to achieve significant performance improvements. Participants will gain the essential knowledge and skills to create and implement an effective Balanced Scorecard, enhancing strategic planning within their organizations.

Objectives:

Upon completing the Strategic Planning with the Balanced Scorecard course, participants will be able to:

• Translate vision and strategy into actionable operational plans to enhance organizational performance.
• Utilize the Balanced Scorecard to drive results and improve performance.
• Design and build customized Balanced Scorecards.
• Align the organization towards achieving common goals.
• Monitor and manage strategic performance effectively.
• Improve operational performance in alignment with corporate strategy.
• Communicate and manage change efficiently.
• Ensure ongoing improvement in management practices.
• Implement the Balanced Scorecard across all organizational departments.
• Develop personal action plans to enhance individual performance within the organization.

Training Methodology:

• Practical Activities
• Situation-Based Training
• Business Mapping
• Role-Playing Exercises
• Real-Life Examples
• Benchmarking Meetings
• SWOT Analysis
• Goal-Setting Workshops
• Metrics & KPI Development
• Strategic Review Sessions

Course Outline:

Unit 1: A Tool for Managing Strategic Performance

• Introduction to the Balanced Scorecard
• Benefits and applications of the Balanced Scorecard
• Linking mission and vision to operations
• Development and use of Balanced Scorecards
• Strategy maps and strategic themes
• Measures and targets

Unit 2: Developing a Balanced Scorecard

• Creating a strategy-focused organization
• Detailed exploration of the Learning and Growth perspective
• Defining strategy, strategic themes, and linkages
• Engaging leadership and gathering data
• Strategic documentation and case study
• Setting strategic objectives

Unit 3: Monitoring Strategic Performance

• Purpose of strategic measures and KPIs
• Lead vs. Lag measures
• Developing measures using strategy maps
• Applying Balanced Scorecard with examples
• Setting measures and targets
• Mapping strategic initiatives

Unit 4: Implementing a Balanced Scorecard

• Setting stretch targets for objectives
• Differences between strategic management and performance management systems
• Mapping HRM strategies
• Implementation planning and change management
• Communicating the Balanced Scorecard
• Cascading the Balanced Scorecard across departments

Unit 5: Pulling It All Together

• Integrating Balanced Scorecard methodology into the organization
• Drafting a project plan and identifying key roles
• Case study activities and essentials for performance results
• Creating a personal action plan

Unit 6: Balanced Scorecard Strategy

• Creating a strategy-focused organization
• Cascading and simplifying scorecards
• Strategic and critical thinking in performance management
• Best practices for performance management
• KPI documentation and policies
• Instruction and practice in Balanced Scorecard