Balanced Scorecard Basics

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 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