Organizations in today’s dynamic, highly competitive, demanding environment must devote significant time, energy, financial and human resources to measuring their performance in achieving strategic goals. Increasingly, organizations are realizing that while measurement is more crucial than ever, their systems for capturing, monitoring, and sharing performance information are critically flawed. At the root of this measurement misery is an almost exclusive reliance on financial measures of performance. While these systems were perfectly suited to the machine-like, physical asset-based nature of early industrial endeavors, they are ill-equipped to capture the value creating mechanisms of modern business organization.

Additionally, the role of strategy is more important today than it has ever been. But the sobering fact is that about 9 out of 10 organizations fail to implement their strategies. What is needed is a measurement system that balances the historical accuracy and integrity of financial numbers with today’s drivers of economic success, and in so doing allows the organization to beat the odds of executing strategy.

The Balanced Scorecard has emerged as a proven and effective tool in our quest to capture, describe, and translate intangible assets into real value for all of an organization’s stakeholders, and in the process allow organizations to successfully implement differentiating strategies.

Objectives: At the end of the seminar, the participants would have been able to:

1. Discuss the principles and concepts behind the Balanced Scorecard
2. Elucidate its advantages and benefits in performance measurement
3. Apply the Balance Scorecard in their organization using live data, and
4. Create a plan for introducing it into their organization

Agenda:

• Introduction—the need for measurement
• The origin of the Balanced Scorecard
• Performance measurement and the need for the Balanced Scorecard
• The Balanced Scorecard: definitions, four levels of perspectives, uses
• Sample of a Balanced Scorecard
• Key success factors
• Top implementation issues

Who should attend: Senior managers, Entrepreneurs, Plant Managers, Corporate Planning Managers, HR managers