Linkage is the key to transforming the Balanced Scorecard from a measurement tool to a management tool. Using traditional management techniques, process improvement initiatives can become islands unto themselves: projects that have local impact but do not advance corporate strategy. The Balanced Scorecard process creates maps that define how strategic objectives interact to deliver desired results. These strategy maps can be expanded to fully define and communicate how strategy should be deployed and implemented in your organization via strategic process improvement projects.

Objectives:

• Evaluate your company’s strategic position and opportunities.
• Build a Strategy Map that clarifies how and why your seemingly disparate initiatives and resources can be leveraged to deliver “big picture” results.
• Deploy strategy by executing performance improvement initiatives that are linked to the corporate vision and objectives.

How to Achieve Superior Performance & Strategic Success?

For years, senior leaders have struggled to use financial-driven performance management systems to achieve operational and strategic goals. The Balanced Scorecard is a proven approach to strategic management that imbeds long-term strategy into your management system through the mechanism of measurement. You will learn how to:

• Translate vision and strategy into your performance management system
• Effectively communicate strategic intent throughout your company
• Identify financial, business process, customer satisfaction and internal development metrics that support corporate strategy
• Track performance against the established strategic and operational goals
• Manage cross-functional process performance
• Identify improvements that will impact corporate success

In 1992, Robert Kaplan of Harvard Business School and David Norton of Renaissance Solutions introduced the Balanced Scorecard (BSC), a complement to traditional financial measurement systems that helped companies manage performance and progress. This tool has evolved into a strategic management system that can help you achieve and sustain strategic success as the business environment changes.

Using the Balanced Scorecard will show you how to apply and adapt this system at your company. Specifically, you will learn how to:

• Adjust the four BSC perspectives to your environment.
• Select lag and lead measures that make sense for your business.
• Link operational and strategic objectives.
• Integrate BSC with other measurement tools and techniques.
• Exploit the Balanced Scorecard as a strategic management system.
• Identify and implement sustainable strategic improvements.