Strategic Planning with the Balanced Scorecard: Turning Strategy into Action

Introduction

This course on the Strategic Planning with the Balanced Scorecard: Turning Strategy into Action equips participants to align organizational efforts towards achieving specific goals. It provides a framework for implementing strategies that lead to positive change efficiently, considering time, procedures, and costs. Participants will develop skills to drive Balanced Scorecard initiatives, transforming strategic plans into actionable tasks and motivating change at every organizational level.

Objectives

By the end of this Strategic Planning with the Balanced Scorecard: Turning Strategy into Action course, participants will be able to:

• Develop actions to realize vision and strategy.
• Apply the Balanced Scorecard to enhance performance.
• Create and tailor Balanced Scorecard plans for their organization.
• Establish and coordinate critical activities and qualifications.
• Manage and control strategic performance effectively.
• Implement tactics to align processes with strategic goals.
• Oversee organizational change management.
• Implement performance improvement plans.
• Apply the Balanced Scorecard across all organizational levels.
• Create personal action plans to drive performance improvements.

Training Methodology

• Workshops
• Interactive Simulations
• Case Studies
• Role Plays
• Group Discussions
• Strategy Mapping
• Action Planning

Course Outline

Unit 1: A Tool for Managing Strategic Performance

• Basic information on the Balanced Scorecard concept
• Advantages of the Balanced Scorecard
• Using mission and vision as reference tools
• Application and uses of the Balanced Scorecard
• Overview of financial, customer, and process perspectives
• Creating a Balanced Scorecard
• Developing strategy maps and strategic themes
• Establishing strategic measures and targets

Unit 2: Developing a Balanced Scorecard

• Creating a strategy-centric organization
• Elaboration on the Learning and Growth perspective
• Defining strategy, identifying themes, and constructing linkages
• Consulting leadership teams
• Data collection and organization through office work
• Strategy documentation and case studies
• Setting strategic objectives and themes

Unit 3: Monitoring Strategic Performance

• Understanding strategic measures and KPIs
• Differentiating lead and lag measures
• Formulating relevant measures using strategy maps
• Implementing a Balanced Scorecard
• Establishing quantifiable objectives and outlining strategies

Unit 4: Executing a Balanced Scorecard

• Assessing the difficulty levels of strategic objectives
• Integrating Strategic Management and Performance Management Systems
• Mapping strategic initiatives for HR
• Planning and implementing the Balanced Scorecard
• Presenting the Balanced Scorecard
• Establishing quantitative criteria and optimizing performance appraisal

Unit 5: Integrating and Conclusion

• Best practices for implementation within the organization
• Preparing a project schedule
• Identifying key roles and critical players
• Analyzing case studies and classroom best practices
• Developing a personal action plan