"1-DAY Introduction to the Balanced Scorecard"
This one-day practical introductory course gives you an understanding of the construction and use of an essential Balanced Scorecard and its potential implementation and use within your own organisation.
The performance of organisations can no longer be judged purely from historic financial measures. The changing expectations of customers, the speed of innovation, the complexity of relationships and the needs of regulators are all forcing organisations to reassess their performance information needs. The development of the Balanced Scorecard has been described as one of the major business advances of the last 25 years. It is based on careful research into the way different parts of the organisation interact together to create value for customers and ultimately, the shareholders. It can act as a basis for communicating purpose and strategy throughout and organisation giving all parts a common operating language as well as becoming a primary vehicle for identifying and setting winning strategies.
However, implementation of the scorecard is not straightforward and this course seeks to help managers understand the process fully. It requires clarification of the organisations overarching purpose and objectives. Managers need to think carefully about the organisation's assets and capacity to deploy them to create a sustainable value proposition for customers that will lead to the achievements of its aims. The indicators that will enable managers to know that the chosen strategies are the right ones and that they are being achieved, must be identified. Finally, the thinking represented by the scorecard must be translated into action on the ground and the monitoring information acted upon.
Is it right for me?
Suitable for individuals who are:
· Managers coming to the balanced scorecard for the first time
· Those seeking to renew an existing balanced scorecard initiative
· Operational managers who need to apply the performance measurement
system aspect of balanced scorecards
What will I learn?
By the end of the course you will be able to:
· Understand the underpinning ideas of the balanced scorecard
· Identify how the ideas apply to organisations in the UK
· Appreciate the way that organisational assets work together to create
value
· Know how to think about Objectives and the Actions that lead to them
· Use the scorecard to develop strategy
· Use the scorecard for Performance Measurement and Monitoring
· Understand how to prepare for implementing the scorecard
What will it cover?
What is a Balanced Scorecard?
· Overview of the day and learning guide
·
The basic model and its origins
· The evolution of the balanced scorecard from measurement to strategy
tool
· How it has been used and for what
it has been used
Measurement
· Defining the organisations main performance information needs
· Identifying the priority performance measures
· Turning data into information
Assets, Innovation and Capability
· Defining organisational assets, innovation and capability
·
Linkages within the organisation
· Key determinants of success
Implementation
· Using information to monitor strategies
· Driving the organisation’s actions using measures
· Practical aspects of implementing the balanced scorecard
Customers, Owners and Value
· Identifying the customer and the value proposition
· Relating value to marketing and operational concepts
· Measuring value
Course fees
one delegate: £245 + VAT
two plus delegates on same coures: £200 + VAT per delegate
Venue
All courses are normally held at Charnwood House, near Nottingham
22 Jul, 1 Oct 2008