Learning path: Talent Development Pro
Duration: 1 Day(s).
Over the past several decades, organizations have recognized that profit cannot be the only measure of success. Assets like a company's reputation, their employee's knowledge base, and intellectual property can make up a huge part of a company's value.
Traditional measurement tools do not consider these assets. The balanced scorecard emerged to address this gap and help include these assets in a broader definition of success. This tool and its related parts help organizations identify, document, plan, and execute a balanced business strategy. It also helps organizations evaluate and revise their strategic direction.
In this one-day course, you will learn the basics of the balanced scorecard and then determine if this tool is a good fit for your organization.
- Define a balanced scorecard and identify the benefits
- Understand common pitfalls and know how to avoid them
- Assess the fit of a balanced scorecard in your organization
- Describe the elements of a balanced scorecard process
- Know the differences between strategy maps, tactical action plans, and balanced scorecards
- Create a vision statement for the balanced scorecard
- Understand how corporate values, mission statements, and vision statements tie into the balanced scorecard
- Identify the parts of a balanced scorecard plan
- Understand the processes you need to support a balanced scorecard strategy
- Identify the players in different types of balanced scorecard teams
Business and HR managers and executives