Balanced Scorecard Basics

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Course Overview

Over the past several decades, organizations have come to realize that success cannot only be measured in dollars and cents. Intangible assets (like a company’s reputation, the knowledge base created by their employees, and training initiatives) can make up a huge portion of a company’s wealth.

It only makes sense, then, that we need a new tool to help us measure this expanded definition of success. Enter the balanced scorecard! This tool and its related components will help your organization identify, document, plan, and execute a balanced strategic mission. It will also help your organization evaluate and revise its strategic execution.

This one-day workshop will introduce you to the basics of the balanced scorecard and help you determine if this powerful tool is a good fit for your organization.

Learning Objectives

At the end of this workshop, you will be able to:

  • Define what the balanced scorecard is
  • Identify the benefits of the scorecard
  • Describe the common balanced scorecard pitfalls and how to avoid them
  • Determine if the balanced scorecard is right for your organization
  • Describe the key elements of the balanced scorecard process
  • Identify a strategy map, tactical action plan, and balanced scorecard
  • Create a vision statement for the balanced scorecard
  • Understand what corporate values, mission statements, and vision statements are and how they tie into the balanced scorecard process
  • Identify the components of supporting balanced scorecard plans
  • Understand what processes you will need to support the balanced scorecard
  • Identify the members of different balanced scorecard teams