Use A Balanced Scorecard (BSC) To Measure Performance Indicators (KPI) In Continuous Improvement Achieving Smart & Strategic Goals

Course Code: MN26

 

Course Objective

  • Explain the benefits and importance of a Strategy Focused Organization (SFO)
  • Develop a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis, vision and mission statements and strategic goals for their organization or department
  • Use 'SMART' objectives and key performance indicators to track the performance and productivity at all levels in their organizations
  • Apply the approach of best-in-class benchmarking technique to set targets for each KPI
  • Design a balanced scorecard based on the Kaplan and Norton model

 

Target Audience

  • All managers and supervisors involved in strategic planning and performance management.
  • The course is also very helpful to those involved in improving performance and measuring results.

 

Course Outline

Day 1

Benefits of strategic management and planning

  • The strategy focused organization
  • Why implement the balanced scorecard
  • Strategic planning needs and benefits
  • A strategic planning model
  • The importance of the balanced scorecard
  • Balanced scorecard steps and timeline

Day 2

'SWOT' analysis, vision and mission statements

  • The purpose of a 'SWOT' analysis
  • 'SWOT' in brief
  • Linking the results of the 'SWOT' findings to future objectives and initiatives
  • Definition of a vision statement
  • Importance of a structured mission statement

Day 3

Developing performance measures and control systems

  • Goals, objectives, and targets
  • 'SMART' objectives
  • Key performance indicators and Units of Measures (UOMs)
  • Aligning KPIs to company strategy
  • Obstacles to measurement
  • Developing strategies and initiatives that will assist in achieving the targets
  • Developing strategies

Day 4

Benchmarking as a tool to set targets

  • Objectives and basics of benchmarking
  • The who, what and why of benchmarking
  • Different methods of benchmarking
  • Who to benchmark against
  • The benchmarking process

Day 5

The balanced scorecard as a strategic management system

  • Strategic planning and strategy execution
  • Reasons behind failures of well-formulated strategies
  • Translating the vision into everyday actions
  • Importance and history of the balanced scorecard
  • The premise behind the balanced scorecard
  • Principles of the strategy focused organization
  • Measuring business strategy from the financial, customer, internal, business or process and learning and growth perspectives
  • Strategic alignment and goal setting
  • Linking the balanced scorecard's KPIs to strategy
  • Strategy map: specifying relationships and making them testable
  • The importance of initiatives
  • Evaluating initiatives
  • Managing initiatives
  • Soft and hard KPIs
  • Leading and lagging KPIs
  • Reporting and evaluating results
  • Cascading the balanced scorecard
  • Implementing a balanced scorecard program

 


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Date & Location

Date : 27 January 2019

Duration : 5 days

Place : Kuala Lumpur

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Date : 14 April 2019

Duration : 5 days

Place : Istanbul

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Date : 08 December 2019

Duration : 5 days

Place : London

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Date : 23 December 2018

Duration : 5 days

Place : Kuala Lumpur

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