BALANCE SCORE CARD
The Balance Score Card (BSC)drives the direction in which a manager wants to take their business. BSC provides a platform that acts as a measuring tape to determine whether the set goals have been met or exceeded. It adds non-financial metrics to traditional financial metrics to give a well-rounded view of the performance of an organization
A company can be sure that any strategic action implemented matches the desired outcomes.
BSC provides a platform for developing a uniform strategy mechanism for all levels.
Managers can design a review mechanism to capture the impact of all activities & actions performed by each individual and develop course correction if any needed midway.
Who Should Attend
- CEOs, CFOs, CPOs, COOs & CXOs
- Senior Managers
- L&D, Managers
- Charted Accountants (CA)
- PPC Managers
- Customer Relationship Managers
- Manufacturing Managers
- Quality Professionals
- Sales and Marketing Managers
- Logistics & Supply Chain Managers
Benefits of Attending
Unlike traditional methods of developing strategy and tracking the financial health of a business, the BSC gives you a comprehensive platform to design and measure whether your company is meeting its objectives. While it may seem that a company is doing well financially, it may be that customer satisfaction is down, employee training is inadequate, or that the processes are outdated
- Strategic initiatives that follow “best practices” methodologies cascade through the organization
- Increased Creativity and Unexpected Ideas.
- Align key performance measures with strategy at all levels of an organization.
- Provides management with a comprehensive picture of business operations.
- Communication and understanding of business goals and strategies at all levels of an organization.
- A cross-organizational team – More open channels of communications – Enthusiastic People.
- Initiatives are continually measured and evaluated against industry standards
1. Introduction to BSC
– To Understand the need for BSC
– Why it is important to act as the management communication tool
2. Developing Blueprint
– Understanding the criteria for Choosing an Organizational Unit
– Selection of Team
– Making Development and Communicating the BSC
3. Aligning with Vision & Mission
– Design various building blocks (Mission, Values, Vision & Strategy) of an Organization and their effective alignment with BSC
4. Develop Objective and Measures
– Develop and set performance objective and measures for AOP
– Creating Cause & Effect linkages and refinement
5. Setting Targets and Initiatives
– Examine the critical role of targets
– How to set target time frames and do reviews of targets
– Learn a four-step process to have the right initiative in place for achieving your strategy
6. Cascade BSC Across Organisation
– Develop aligned scorecards for linking all employees to organization strategy
– Review and Evaluate cascaded Balance Scorecards
7. Resource Allocation
– Five-Step process using Balance Scorecard for linking budget to strategy
8. Review Mechanism & Reporting
– Develop Review mechanism and How Balance Scorecard can be used for linking rewards to performance
– Reduce redundancy and ownership development
Feedback From Past Participants
This session highlighted what were we missing for this so many years in terms of target setting and measurement.
It helped us developed a renewed Mgmt Review Meeting Structure by which we can directly see the impact elements.
Being a small company, now I can develop my own AOP and review it with my team.
Easy to implement and must to do.