Balanced Scorecard Basics

Bal­anced Score­card Basics

Over the past sev­eral decades, orga­ni­za­tions have come to real­ize that suc­cess can­not only be mea­sured in dol­lars and cents. Intan­gi­ble assets (like a company’s rep­u­ta­tion, the knowl­edge base cre­ated by their employ­ees, and train­ing ini­tia­tives) can make up a huge por­tion of a company’s wealth. It only makes sense, then, that we need a new tool to help us mea­sure this expanded def­i­n­i­tion of suc­cess. Enter the bal­anced score­card! This tool and its related com­po­nents will help your orga­ni­za­tion iden­tify, doc­u­ment, plan, and exe­cute a bal­anced strate­gic mis­sion. It will also help your orga­ni­za­tion eval­u­ate and revise its strate­gic execution.

This one-​day work­shop will intro­duce you to the basics of the bal­anced score­card and help you deter­mine if this pow­er­ful tool is a good fit for your organization.


What Will Stu­dents Learn?

  • Define what the bal­anced score­card is and its benefits
  • Describe com­mon bal­anced score­card pit­falls & how to avoid them
  • Deter­mine if the bal­anced score­card is right for your organization
  • Describe the key ele­ments of the bal­anced score­card process
  • Iden­tify a strat­egy map, tac­ti­cal action plan, and bal­anced scorecard
  • Cre­ate a vision state­ment for the bal­anced scorecard
  • Under­stand what cor­po­rate val­ues, mis­sion state­ments, and vision state­ments are and how they tie into the bal­anced scorecard
  • Under­stand what processes sup­port the bal­anced scorecard

What Top­ics are Covered?

  • Under­stand­ing the bal­anced scorecard
  • The ingre­di­ents for success
  • Overview of the bal­anced score­card process
  • Cre­at­ing a project vision statement
  • Under­stand­ing orga­ni­za­tional mis­sion, vision, and values
  • Plans and processes to build
  • Build­ing bal­anced score­card teams

Intro­duc­tion and Course Overview

You will spend the first part of the day get­ting to know par­tic­i­pants and dis­cussing what will take place dur­ing the work­shop. Stu­dents will also have an oppor­tu­nity to iden­tify their per­sonal learn­ing objectives.

Under­stand­ing the Bal­anced Score­card
To start the day, par­tic­i­pants will learn what the bal­anced score­card is and where it orig­i­nated from. Par­tic­i­pants will also explore what eco­nomic changes caused the bal­anced score­card to evolve.

The Ingre­di­ents for Suc­cess
Next, par­tic­i­pants will eval­u­ate if the bal­anced score­card is a good tool for their orga­ni­za­tion. Par­tic­i­pants will also brain­storm solu­tions to the top ten issues that cause the bal­anced score­card to fail.

Overview of the Bal­anced Score­card Process
This ses­sion will begin with a flow­chart out­lin­ing each step of the bal­anced score­card process. Par­tic­i­pants will also review a sam­ple strat­egy map, tac­ti­cal action plan, and scorecard.

Cre­at­ing a Project Vision State­ment
In this ses­sion, par­tic­i­pants will learn how to craft a vision state­ment for the bal­anced score­card project.

Under­stand­ing Orga­ni­za­tional Mis­sion, Vision, and Val­ues
This ses­sion will look at what a mis­sion state­ment, vision state­ment, and value iden­ti­fi­ca­tion list looks like, and how they each fit into the bal­anced score­card process. To apply learn­ing points, par­tic­i­pants will eval­u­ate what some well-​known com­pa­nies have for these statements.

Plans and Processes to Build
Next, par­tic­i­pants will receive check­lists for cre­at­ing train­ing plans, project plans, com­mu­ni­ca­tion plans, and core processes.

Build­ing Bal­anced Score­card Teams
To wrap up the day, par­tic­i­pants will learn how to build the three most com­mon types of bal­anced score­card teams: an exec­u­tive team, a steer­ing team, and strate­gic theme teams.

Work­shop Wrap-​Up
At the end of the day, stu­dents will have an oppor­tu­nity to ask ques­tions and fill out an action plan.


Short Descrip­tion

Over the past sev­eral decades, orga­ni­za­tions have come to real­ize that suc­cess can­not only be mea­sured in dol­lars and cents. Intan­gi­ble assets (like a company’s rep­u­ta­tion, the knowl­edge base cre­ated by their employ­ees, and train­ing ini­tia­tives) can make

Course Info

One Days — 8 hr :

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ITBC­group.…

25 Amhurst Road…

Lon­don , UK , E5 8HH

Cell: +07495497301

Maadi , Cairo, Egypt

Cell: 01001531899 | 01017080808

www​.itbcg​.net | info@​tbcg.​net

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