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Balanced Scorecard Basics
Duration
1 Day
Course
VS-s2710
Available Formats
Classroom Training, Online Training
Course Description
Overview
Over the past several decades, organizations have come to realize that success can be measured in other ways besides in dollars and cents. Intangible assets (such as 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 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.
Objectives
This one-day workshop will introduce participants to the basics of the balanced scorecard and help them determine if this powerful tool is a good fit for their organization.
Topics
Course Overview
- You will spend the first part of the day getting to know participants and discussing what will take place during the workshop. Students will also have an opportunity to identify their personal learning objectives.
- To start the day, participants will learn what the balanced scorecard is and where it originated. Participants will also explore what economic changes caused the balanced scorecard to evolve.
- In this session, participants will learn how to craft a vision statement for the balanced scorecard project.
- This session will look at what a mission statement, vision statement, and value identification list look like, and how they each fit into the balanced scorecard process. To apply learning points, participants will evaluate the statements of some well-known companies.
- In this session, participants will look at important processes that need to accompany the Balanced Scorecard, including project plans, communication plans, and training plans.
- This session will begin with a flowchart outlining each step of the balanced scorecard process. Participants will also review a sample strategy map, tactical action plan, and scorecard.
- Next, participants will also brainstorm solutions to the top 10 issues that may cause the balanced scorecard to fail.
- In this session, participants will discuss if the balanced scorecard is a good tool for their organization.
- At the end of the course, students will have an opportunity to ask questions and fill out an action plan.
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Self-Paced Training Info
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- Same in-demand topics as instructor-led public and private classes.
- Standalone learning or supplemental reinforcement.
- e-Learning content varies by course and technology.
- View the Self-Paced version of this outline and what is included in the SPVC course.
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