Successful Strategy Implementation Using the Balanced Scorecard
One of the most difficult challenges facing Businesses today is the ability to translate strategy into action. In spite of this challenge, there is a proven technique available today which has been used successfully by over half of the Fortune 500 companies to overcome this challenge.
It is the Balanced Scorecard. The Balanced Scorecard has emerged as an extremely effective tool for implementing strategy. In the seventy-fifth edition of the Harvard Business Review, the Harvard Business Review rated the Balanced Scorecard as one of the top ten concepts developed over their first seventy-five years.
This seminar provides a practical approach to for successfully implementing a Balanced Scorecard in an Enterprise.
What you will learn
- Gain an understanding of the history of the Balanced Scorecard and the evolution of the Balanced Scorecard into an effective technique for implementing strategy
- Understand the barriers to strategy implementation and the concepts behind the Balanced Scorecard
- Learn various ways organizations use the Balanced Scorecard outside of the traditional approaches
- Understand the challenges associated with implementation of the Balanced Scorecard and techniques for avoiding those challenges
- Learn about the key to an effective Balanced Scorecard - the "strategy map"
- Gain experience with the key to the Balanced Scorecard by participating in the development of your own strategy map
- Understand the critical components and lessons learned through experience for building effective Balanced Scorecards
- Fully understand the ten keys to a successful Balanced Scorecard implementation
- Learn how to plan for and undertake the management of a Balanced Scorecard project by developing you own work plan including the steps, timing and deliverables
- Introduction to the Balanced Scorecard
- Wells Fargo Case One
- The Key to the Balanced Scorecard - The Strategy Map
- Exercise to Build a Strategy Map
- The Process for Successfully Implementing a Balanced Scorecard
- Keys to a Successful Balanced Scorecard Implementation
- Recap of the Highlights - Lessons Learned