Making the Balanced Scorecard Relevant Today
This course will enable you to:
- Understand the key principles and different elements of Balanced Scorecard
- Develop effective performance measures
- Use different tools such as the Strategy Map and KPIs
- Analyse and report the performance data of your Balance Scorecard
The concept of the Balanced Scorecard is not difficult or new but despite it being around for some time, organisations still struggle to develop, deploy and manage a small number of KPIs which truly reflect the organisations strategy. Balanced Scorecard is still relevant today - if you use correctly.
This course takes a fresh look at the principles and concepts of the Balanced Scorecard and Strategy Maps, as well as how to develop appropriate measures that present performance information on the most important aspects of the business.
You'll also learn how best to deploy the Balanced Scorecard throughout your organisation, and how to implement the improvement plans.
- What is the Balanced Scorecard?
- What are the key principles?
- What is strategy?
- What are the elements of the Balanced Scorecard?
- What is the Customer Perspective?
- What is the Process Perspective?
- What is the Innovation and Learning Perspective?
- What is the Financial Perspective?
- What is the Community or Social Responsibility Perspective?
- What is the Supplier Perspective and other elements?
- What elements should we include in our Balanced Scorecard?
- How do we link strategy to metrics?
- Example: Strategy Maps
- What makes a good performance measure?
- How do we build the Strategy Map?
- Worked example: A Strategy Map
- What measures should we use for the Balanced Scorecard?
- What are the resource implications of measures?
- What are the perils of poorly designed measures?
Deploying the Balanced Scorecard
- What is the strict cascade approach?
- What is the interlocking cascade approach?
- What is the business unit or branch cascade approach?
- What does the Scorecard for support functions look like?
- What does the Balanced Scorecard in the public sector look like?
- How do we make the Balanced Scorecard work?
- What are the success factors for Balanced Scorecard implementation?
- What criticisms are there of the Balanced Scorecard?
- How can we measure and manage performance?
- How should we report performance data?
- How can we display performance data as a time series?
- How can we manage and improve performance?
- How do we account for the Balanced Scorecard?
- Are there any unintended consequences of performance measures?
- How should we review and sustain the Balanced Scorecard?
- Summary: The Balanced Scorecard
ACCA partner with accountingcpd.net to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.
Your accountingcpd.net course counts as verifiable CPD, if you can answer "yes" to these questions:
- Was the learning activity relevant to your career?
- Can you explain how you will apply the learning in the workplace?
You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.