Balanced Scorecard for Business PerformanceBusiness Management
Course Date & Course Fee
- Applicable for In-House Training (Quote Upon Request)
It was stated that the ability to execute is more important than a beautiful strategy. Why do organizations have difficulty in implementation? One problem is that strategies or business plans (or other fancy terms) are always changing, but the tools for measuring have not kept pace. Measurement is directional: it keeps management motivated on the strengths, focused on the weaknesses, and action conscious to overcome problems.
Upon completion of this workshop, participants will be able to;
- Learn and review scorecard fundamentals
- Understand how to measure performance systematically
- Build on an existing performance management initiative
- Translate strategy into operational terms which are executable
- Design a strategy map and scorecard
- Learn step by step methodology of doing the BSC
- Complete a preliminary, first draft of BSC
Who Should Attend
All managers, BSC team, supervisory level staff and above, from all departments and industries with participation from senior management.
- The impact of numbers. Specific exercise on the importance of numbers
- Introduction to Performance Management System
- Discussion on areas of the organisation where measurement is difficult
- The missing link: is $$ the best measure?
- What is the Balanced Scorecard (BSC)? A look at the 4 perspectives:
- Internal business
- Innovation & learning
- Why should an organisation have a scorecard?
- Strategy and its relationship with cause and effect
- Cascading the Balanced Scorecard – The 5 Step Cycle and How to do it
- Benchmark Data: comparing companies & industries
- Analysing the Current State of an Organisation
- How to Develop the Balanced Scorecard
- Understand the “musts” of measurements
- Balancing the measurements
- Lead and Lag indicators
- Case: develop your own Scorecard
- Creating Measurement Maps for Identified Goals
- SMART Objectives
- Case Studies - Those who have Implemented a Scorecard and their Key Learnings
The course will be delivered through a combination of Metaphoric and Learning-By-Doing approach, where the participants will be going through various simulation scenario which interacts with the subject itself. At each stage, the participants will need to exercise the techniques that have been taught and practice them to self-develop their level of skills. The active learning activities may include:
- Hands-on exercises
- Group discussions
- Case studies
- Interactive storytelling
- Commentary on other companies/industries
- Video presentation
Mr Andrew Cheah, an MBA degree qualification from the University of Portsmouth, UK, has been a trainer and management consultant since 1991, specialising in performance management, productivity improvement, behavioural change, and leadership. Andrew has trained clients from such diverse industries (see list below) as banking, insurance, hospitality, sales and distribution, manufacturing, food, property development, government/public services, and higher education. Being tri-lingual (English, Mandarin, and Malay Languages), Andrew has extensive regional exposure in Singapore, United Arab Emirates, Malaysia, China, Thailand, Indonesia and Vietnam.
In addition to training, Andrew has guided and provided consulting services to clients, leading to one of them winning the prestigious Malaysian National Productivity Award presented by the previous Malaysian Prime Minister, Tun Dr Mahathir. Andrew has also been invited to speak in events such as the International Conference on Best Practices, which was graced by senior officials from the Ministry of International Trade and Industry (MITI), sharing the stage with Professor Michael Gregory of the University of Cambridge, Mr Dieter Heyl, Vice President of Mercedes Benz Malaysia (2007), and Dr Marcus Chao, President of Lean China Enterprise Inc.
Andrew has a certificate in Blue Ocean Leadership Masterclass and Leading Dimensions Profiling Trainer Certification (LDP certified) at the professional level. In addition to being a qualified ISO9000 assessor, his experience in international consultancy has also earned him a membership with the Association of Productivity Specialist (New York).
Quick InformationIt was stated that the ability to execute is more important than a beautiful strategy. Why do organizations have difficulty in implementation? One problem is that strategies or business plans are always changing, but the tools for measuring have not kept pace.
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