A balanced scorecard is a performance measurement used at a strategic level to identify and improve various functions of a business. Organisations came to realise that non-physical company assets, including brand exposure, reputation, and interpretation were as much of a factor to success as money.
This Balance Scorecard Basics course will teach you how to identify, document, plan and execute a balanced strategic mission. You will be able to breakdown the bigger picture into more manageable projects, which are then broken down further into day-to-day tasks to contribute to an organisation’s long-term success and goals.
In today’s economy, balanced scorecards are an important factor. They provide a set amount of goals to work towards, while helping you track progress throughout the lifecycle. The best part is balanced scorecards work in organisations of all levels, in any industry.
The Harvard Business Review called the balanced scorecard one of the most influential ideas of the 20th century, it has been adopted by half of all Fortune 1000 organisations since 1996 and this powerful tool is easily found on most company websites, or by contacting their press office.
KEY LEARNING POINTS
- The definition of a balanced scorecard
- Identifying the benefits of a scorecard
- Describe the common balanced scorecard pitfalls and how to avoid them
- Determine if the balanced scorecard is right for your organisation
- 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, vision statements are, and how they tie into the balanced scorecard process
- Identify the components of supporting balanced scorecard plans
- Understand what processes you will need to support the balanced scorecard
- Identify the members of different balanced scorecard teams
Advantages of the Course
- Have a positive influence on your organisation.
- Extracurricular resources given so you can build further on your newfound knowledge.
- Utilise skills and knowledge that are transferable between organisations.
- Implement your knowledge as soon as you’ve finished the course.