Strategy To Execution : Using Balanced Scorecard |
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| Two Day Workshop |
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| Workshop Overview |
The Balanced Scorecard is a world-renowned management technique for implementing strategy and creating a performance management system. Designed by Drs. Robert Kaplan and David Norton, it has been recognized by the HBR as the leading management tool in the last 75 years and has been successfully adopted by more than 50% of the Global 1000 companies across the world.
Based on the success stories in various global consulting and IT organizations, the methodology and essence of Balanced Scorecard is being used to drive Operational excellence and for aligning performance to organizational strategy.
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| Workshop Coverage |
| Day1 |
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| Session 1 : Conceptual Overview of Balanced Scorecard |
- Understand the high level concepts of Balanced Scorecard
- Understanding the four perspectives and the relationship between them
- Discuss the role of the Balanced Scorecard in a strategic management system
- Understanding the under pinning of a strategy focused organization
- Define and understand the basic scorecard methodology
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| Session 2 : Defining the Organizational Strategic Direction |
- Understanding the purpose in setting a Strategic Destination for the organization
- Understanding Strategic Challenges
- Case study based group work : Identifying Strategic Challenges
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| Session 3 : Defining Key Strategic Themes |
- Understanding how strategic themes are developed based on organizational Strategic Direction and Strategic Challenges
- Understand how the themes drive execution of strategy
- Understanding the true function of themes in the scorecard, as pathways or drivers across all four perspectives
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| Session 4 : Developing linked objectives for each theme |
- Understanding how the perspective view of the scorecard is critical for development
- Understand the cause and effect relationship between all four perspectives
- Understand the scorecard financial model basics and how it defines financial objectives
- Define what a customer value proposition is and how it can be used to set strategic objectives in the customer perspective
- Understand what a generic value chain is and how it can be used to develop strategic objectives in the internal perspective
- Discuss the basic learning and growth competency model and how it supports the entire scorecard across all themes
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| Session 5 : Day one break- out session |
- Hands on opportunity for the participants to build a Strategy Map under the mentorship of QAI- Strategy Mentors.
- In the break-out session, participants will form smaller groups and will build a Strategy Map based on the case study provided.
- The exercise will allow the participants to put in practice all of the concepts to which they are exposed in day 1.
- The objective of the session is to solidify the learning to date and put it to practical use.
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| Session 6 : Break out Session Presentation |
- The group will come together and share their progress with other groups.
- The presentations will give attendees the chance to both challenge and learn from the work done by their colleagues
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| Day2 |
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| Session 7 : Developing Measures and Setting Targets |
- Define the purpose of strategic measures
- Define the two types of strategic measures and the balanced relationship between them
- Understand the importance and process of detailed measurement definition
- Break out session : Developing measures for the objectives on the strategy map created by the groups on day one.
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| Session 8 : Role of Strategic Initiatives in closing the “Knowing- Doing” Gap |
- Clearly articulate the role of initiatives in an organization
- Define what a strategic initiative is and what it is “not”
- Understand the power of aligning current initiatives to the scorecard objective
- Define relationship between initiatives, objectives and measures
- Understand the need and criteria for initiative prioritization / rationalization
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| Session 9 : Performance Alignment through cascading the scorecard |
- Achieving performance alignment through cascading the scorecard
- Implementation guidelines for cascading the scorecard in various industry types ( Manufacturing / IT/ ITES / Pharma) through select case
- Approaches for cascading the objectives and KPMs
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| Session 10 : Day two Break-out session |
- Hands on opportunity for the participants to learn the skill of cascading the scorecard under the mentorship of QAI- Strategy Mentors.
- In the break-out session, participants will form smaller groups and will build an SBU / Operational level BSC based on the case study provided
- The exercise will allow the participants to put in practice all of the concepts to which they are exposed in day 1 and 2
- The objective of the session is to solidify the learning to date and put it to practical use.
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| Session 11 : Break out Session Presentation |
- The group will come together and share their progress with other groups.
- The presentations will give attendees the chance to both challenge and learn from the work done by their colleagues
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| Session 12 : Bonus Session – building a HR Scorecard |
- Fundamentals of building a HR Scorecard
- Discuss the paradigm of alignment of workforce using a HR Scorecard
- Identifying effective and efficiency measures for the HR Scorecard
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| Session 13 : Planning for the implementation |
- Discuss the components of Balanced Scorecard implementation
- Communication to the organization
- Alignment and cascading – strategic line of control
- Budget and resource alignment
- Balanced Scorecard based strategic review system
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| Delivery Method |
- Inputs through lectures by subject experts
- Discussions based on experience of successful implementation in global corporations from the IT / ITES domain
- Hands-on exercises
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| Who Should Attend |
- Senior Project/ Program Managers
- Process Champions
- Quality Managers
- HR Managers
- Managers in Strategy Function
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| Takeaways |
- Exposure to the latest concepts in the Strategy Execution space
- Hands on experience to develop Strategy Maps under the mentorship of QAI - Strategy Execution Experts
- Exposure to multiple successful BSC implementation experiences in multiple industry segments
- Hands on experience of developing Enterprise level Performance Measurement System
- Exposure to development of Project Plan for deployment of Balanced Scorecard Program in your own company.
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Contact us at fste@qaiasia.com for more details on consulting, training, and other related services in the area of Strategy Development & Execution. |
