Balance Scorecard and Key Performance Indicators

Course details

Introduction
 
This intensive seminar will enable managers to learn the many benefits of The Balanced Scorecard and Key Performance Indicators (KPI`s), and begin to build a Scorecard that supports the business strategy. As a value indicator, the Balanced Scorecard method links business strategy with financial performance. The traditional metric of financial performance is balanced by three more fluid activities: customer relationships, operational excellence and the organisation's ability to learn and improve.
 
In particular, this seminar will:

Provide an understanding of what is the Balanced Scorecard and how could it help your organization.

• Improve strategic understanding.
• Improve the understanding of the drivers of value and the value chain.
• Provide an understanding of how to link strategy through to results
• Provide the distinction between value-added and non-value-added activities
• Focus attention on the core areas of competence.
• Enable participants to develop appropriate measures that drive behaviour.
• Create an environment for greater understanding, motivation, and willingness to change.
• Provide stronger commitment to achieve the strategy and targets for the business

 
Who Should Attend
 
This program is suitable for all Staff responsible for the performance of a business unit, division or an organisation as whole. This program will be of particular benefit to those concerned with:
 

• Implementing KPI`s
• Line management issues, reporting, and decision making
• Strategy implementation
• Improvement initiatives such as re-engineering, benchmarking, and quality improvement
• New business development

 
 
Seminar Objectives
 
The program aims to impart the skills and knowledge required to design, develop, and implement a "Balanced Scorecard" approach to measuring business performance. It will take the participant through the groundwork for a successful implementation to connecting business strategy to operational results. The course will demonstrate how to build a balanced scorecard by commencing with the business strategy, an understanding of the business's core processes and drivers of value. It will also show that it is people that create/erode value and therefore behaviours need to be encouraged that will drive the strategy forward - The balanced scorecard measures performance, and what gets measured gets done. Participants will learn through doing, and create their own scorecard for their business.
 
Participants will learn how to:
 

• Link performance measurement to their business strategy using the Balanced Scorecard
• Develop performance objectives and measures that focus on core business processes and drive behaviour.
• Recognise cause and effect connections and create appropriate leading and lagging indicators of performance
• Consider change management and communications challenges when implementing a
• Balanced Scorecard for the first time
• Understand how to use the Balanced Scorecard to maximum effect
• Interpret, understand, and challenge performance objectives and results
• Effectively and efficiently set realistic and achievable performance targets
• Build a prototype Balanced Scorecard to use in their organization as beginning discussion point with key executives and managers
• Consider actions that will be required after the workshop

 
Training Methodology
 
This workshop will be highly participatory and your seminar leader will present, guide and facilitate learning, using a range of methods including discussions, case studies and exercises.
 
  Updated on 10 February, 2023