Balanced Scorecard Essentials
Saturday, December 28, 2024
Category:HR Management
2
Days
Dubai
9:00am – 4:00pm
Introduction
A Balanced Scorecard is a framework that focuses on shareholder, customer, internal and learning requirements of a business in order to create a system of linked objectives, measures, targets and initiatives which collectively describe the strategy of an organization and how that strategy can be achieved.” It is a very important strategic management tool which helps an organization to not only measure the performance but also decide/manage the strategies which are needed to be adopted/ modified so that the long-term goals are achieved. The application of this tool ensures the consistency of vision and action which is the first step towards the development of a successful organization.
Objectives
The Central Objectives of this programme are as follows:
- An overview of Performance Management best practices.
- An overview of the key principles and benefits of the Balanced Scorecard.
- Familiarity with the Balanced Scorecard key concepts.
- Understand the types of performance measures and how to use each.
- Learn how to put the 4 perspectives of the Balanced Scorecard to work.
- Identify the steps for developing and implementing your Balanced Scorecard.
- Explore how Key Performance Indicators are used to drive change.
- Learn how to develop KPIs that work for your organisation.
- Master techniques for tracking KPIs and measuring performance.
- Understand how to review and adapt your Balanced Scorecard as your organisation evolves.
Training Methodology
Designing Approach
Tailor-Made for Your Needs: Solid State Training Solutions works closely with every client as a long-term strategic partner. We conduct pre-training requirements process which includes collecting details of the registered delegates and conducting training needs analysis meetings to align the training solution with the client’s objectives.
Delivery Methodology
- Simulation – providing life-like scenarios through structured learning experiences and to improve business awareness and management skills.
- Role Play – acting-out situations in groups, under the supervision and feedback of a lead coach.
- Presentations, Videos and Video Recording – visual materials to support presentations of theory.
- Games – learning is fun with Solid State Training Solutions! Using a variety of tools and games to emphasize the learning experience.
- Discussions – use two-way communication between the trainer and the trainees to increase learning opportunities.
- Questionnaires – to gather information from the participants, attributed or anonymous, free-form questions and multiple-choice.
- Case Study Analysis – a key tool for such workshops, either individuals or groups review the materials provided to understand a key message and then present their findings to the other participants.
Organizational Impact
The proper implementation of balanced scorecard can ensure the development of competencies within an organization which will help it to develop a competitive advantage. Without which, it cannot expect to outperform its rivals.
Personal Impact
By the end of this course, participants will be able to gain the following:
- Identify and develop clear strategic objectives.
- Create and implement plans to achieve strategic and tactical goals.
- Contribute to the unification of commercial goals of your organisation.
- Link corporate objectives with incentives systems.
- Facilitate the preparation of the annual budget process.
Senior Executives & Senior Managers, Strategic Planning Professionals and HR Managers
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