Performance Management System Using the Framework of the Balanced Scorecard

Performance Management System Using the Framework of the Balanced Scorecard

Course Features

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  • Lesson: 0
  • Viewers: 186
  • Prerequisites: No
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  • Course Capacity: 50
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Descriptions

    • Translating the organizational strategies crafted by the senior-level management into consistently supportive short-term and medium-term performance targets and standards at each level and organizational unit is easier said than done. The module is essential to ensure that strategies are successfully implemented and the desired results obtained. It is also an objective means of evaluating the performance of accountable managers and other personnel.

 

Introduction

Translating the organizational strategies crafted by the senior-level management into consistently supportive short-term and medium-term performance targets and standards at each level and organizational unit is easier said than done. But this is essential to ensure that strategies are successfully implemented and the desired results obtained. It is also an objective means of evaluating the performance of accountable managers and other personnel.

Traditionally, only financial indicators (sales, gross profit margin, liquidity, return on funds employed, etc.) were used as measures of performance against targets. But using historical financial results is like driving by looking only at the rear-view mirror. The financial figures tell us what happened, but not what is likely to happen in the future.

A better methodology known as the Balanced Scorecard sets targets and tracks results using four interrelated perspectives:

  • Financial
  • Customer
  • Internal business process
  • Learning and growth

This course introduces the methodology of the Balanced Scorecard so that the participants can move forward to implementing it in their organization.

 

Learning Objectives

At the end of this course, the participants will be able to:

  1. Learn the principles and concepts behind the Balanced Scorecard
  2. Explain its advantages and benefits in performance measurement
  3. Apply it on their organization using live data
  4. Create a plan for its introduction into their organization

 

Target Participants

The course is designed for senior and middle-level managers. It is highly recommended to have the CEO and his/her direct subordinates as participants.

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