Balanced Scorecard Basics

Over the past several decades, organizations have come to realize that success cannot only be measured in pounds and pence. 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 and 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