Introduction
What is the concept of a Balanced Scorecard (BSC)? The Balanced Scorecard is a business structure. It is used for managing and tracking the organization’s strategy. The very term ‘balanced scorecard’ derives from the concept of looking at strategic measures in a very balanced view of performance concerning the financial health of the organization.
However, in this approach, the organizational analysts evaluate not only the financial performance but also it takes into the regard the performance indicators of customer service, internal process, and learning and growth achieved of the business.
The Balanced Scorecard framework is a very important management system. It provides management with feedback on both internal practices and external outcomes to unceasingly improve business strategies, results, and performance.
This IRES course offer you the most practical and effective steps to develop and implement this framework within your organization through this training.
Duration
5 Days
Who should Attend
- This course is designed for people in every sector of all organizations who are responsible for designing, developing, implementing, and maintaining a sturdy organizational performance management system.
- This Balanced Scorecard Certification is important for those who are responsible for developing efficient performance instruments by selecting appropriate software tools, working on scorecards, reporting, and developing strategic decision making and action plans.
- All executives, analysts, managers, policymakers, business owners, HR, and people in management should enroll in this program.
Course Level:
Course Objectives
At the end of this IRES training course, participants will learn:
- Develop and implement a BSC architecture in a regulated manner
- Overcome challenges in strategy implementation
- The organization can execute structure to its strategy
- Improved communication execution
- Ensure individual goals link to the organizational tactics
- Helps create and select KPIs that will help the management to execute a strategic plan
- Provides management and stakeholders with a complete picture of business performance
Course Outline
Module 1; Balance Scorecard(BSC)
- Origins and Progression of the Balanced Scorecard Methodology
- Balanced Scorecard as a management concept for different organizations
- Advantages of Balanced Scorecard to increase performance
- Strategies, Design, and Execution of the BSC in existing frameworks
- Balancing non-financial and financial aspects of business
- The Cause and Effect Relationship
- Employee influence, productivity, and accountability
- Developing an Efficient Balanced Scorecard that works
- Successful BSC Program Launch: The 9 Steps
- Assessment of current data and standings
- Strategy Profile
- SMART Strategic Objectives
- Strategy value-chain Mapping
- Performance Measures (KPIs)
- Strategic Initiatives to close performance gaps
- Performance Analysis of evidence-based data
- Organizational Alignment: Integration
- Evaluation
- Balanced Scorecard Management System: Strategy Mapping and Architecture
- Linking values, mission, value drivers, and vision
- Creating a BSC Strategy Map for boosting performance
- Organizational Performance Scorecard
- Profiling priorities and linking them to BSC
- Desired State of Evolution formulation
- Understanding the implementation of the 4 pillars of the Balanced Scorecard
Module 2; Strategic planning and implementation
Fundamentals of Strategic Planning
Defining strategy
- Components of strategy
- Discovering why strategies fail
- Clarifying your organization’s mission, vision and core competencies
The benefits of strategic planning
- The need for strategic planning
- Assessing tools and processes for strategic planning
Developing the Strategy
Ensuring organizational capabilities are appropriate for the strategic environment
- Analyzing how competitive and other environmental factors shape strategy
- Determining the impact of operating and remote environments
- Assessing the external environment for individual departments
- Identifying your customers and their needs
Assessing external forces
- Analyzing your operating and external environment
- Initiating a SWOT analysis
- Prioritizing opportunities and threats
- Categorizing the external environment with checklists
Auditing internal capabilities
- Identifying strengths by business function
- Recognizing vulnerabilities
- Expanding the SWOT analysis
Monitoring and Controlling Implementation
Establishing Key Performance Indicators (KPIs)
- Setting up metrics to measure performance
- Monitoring progress with dashboards
- Deploying Balanced Scorecards
Dimensions of strategic control
- Detecting changes in assumptions
- Coping with a dynamic environment
- Adjusting for unanticipated events
Module 3; Strategy alignment and strategy maps
- What is Corporate Performance Management (CPM)?
- Eight Pressures that have caused interest in CPM
- Strategy map and its Balanced Scorecard
- Differentiating KPIs from PIs
- CPM as a Value Multiplier through Integration
- Barriers Slowing the Adoption Rate of CPM
·Strategy map features and benefits
·Strategy map principles
Module 4; Monitoring and evaluation
- Overview of Monitoring and Evaluation
- Key principles and concepts in M&E
- M&E in project lifecycle
- Complementary roles of Monitoring and Evaluation
- Introduction to Project Evaluation
- Evaluation Process
- Evaluation Criteria
- Developing Evaluation Questions
- Evaluation findings sharing and dissemination
Module 5; Risk Management
- Main Types of Risk Classes that Firms face and must cope with
- Characteristics of the main Risk Classes
- Fundamental Concepts of each of the Risk Classes
- Understanding a Risk-Management Approach
- Risk-Management Approach
- The Need for Internal Controls
- Identify, Mitigate and Control Risks
- Approaches to Risk Assessment
- Develop an appropriate Strategy to detect desired and undesirable events
Related Courses
Course Administration Details:
METHODOLOGY
The instructor-led trainings are delivered using a blended learning approach and comprise presentations, guided sessions of practical exercise, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience, working as professionals and trainers in these fields. All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.
ACCREDITATION
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
TRAINING VENUE
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
ACCOMMODATION AND AIRPORT PICKUP
Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.
- Email: [email protected]
- Phone: +254715 077 817
TAILOR-MADE
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
- Email: [email protected]
- Phone: +254715 077 817
PAYMENT
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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