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Balanced Scorecard Institute - EMEA

International Balanced Scorecard


Certification Master Class
Introduction to Balanced Scorecard Institute EMEA
10 Steps Execution Success ProcessTM (XSP)

and communicate a program of action to execute strategy.


Strategy Map!

Balanced Scorecard!

Theme: Operating Efficiency


Financial!

Profits &
RONA

Grow
Revenues

Customer!

Fewer
Planes

Attract & Retain


More Customers

On-time
Service

Internal!

Learning!

Lowest
Prices

Fast Ground
Turnaround

Objective

Initiative

Budget

Profitability"

Market Value"

30% CAGR"

Grow revenues"

Seat Revenue"

20% CAGR"

Fewer planes"

Plane Lease Cost"

5% CAGR"

Flight is on-time"

Lowest prices"

Customer Loyalty
Program"

"
$XXX
"

Attract and retain


more customers"

#1
"
#1"
70%"
Increase
12% annual"

FAA On-Time Arrival


Rating"
Customer Ranking"
# Repeat Customers"
# Customers"

Fast ground
turnaround"

On Ground Time"

30 Minutes"

On-Time Departure"

90%"

On Ground Cycle
Time Optimization"
Quality
Management

$XXX
"
$XXX
"

% Ground Crew
Stockholders

100% "

ESOP
"

$XXX
"

Strategic Awareness

100%"

$XXX"

Strategic Job
Readiness

Yr 1 - 0%
Yr 3 - 90%
Yr 5 - 100%
"
100%
"

Ground Crew
Training
"
Crew Scheduling
System Rollout
"
CRM System"

Ground crew aligned


with strategy

Develop the
necessary skills
"
Develop the support
system

Strategic Job
Ramp Agent

Target

Ground Crew
Alignment

Strategic Systems
Crew Scheduling

Measurement

Action Plan!

"

"
Info System
Availability"

Communicate

Measure

Balanced Scorecard Institute -EMEA

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Total Budget!

$XXX"

$XXX"

$XXXX!

Execute

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I-3

A portfolio of strategic initiatives should be developed for each


theme.

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I-4

Formal Strategy Execution Process


(Based on Dr Kaplan & Norton Book- The Execution Premium)
Stage 1

Clarify our strategy into


operational and measureable
terms

Set our strategic priorities

Develop the
Strategy
Stage 2

Translate the
Strategy

Align the organization to our


strategy and motivate
employees to help execute

Respond to shifts in our


environment and the
affects of our strategic
choices

Stage 6

Test and
Adapt

Stage 5

Stage 3

Align the
Organization

Monitor and
Learn

Check our progress and


revise our strategy as part
of a continual process

Stage 4

Allocate resources
through operating plans
and budgets that are
explicitly linked to
strategy

Link to
Operations

Execute
Initiatives
Processes

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

Conduct ongoing
operations and
discretionary projects

info@balancedscorecard.co.uk

I-5

Balanced Scorecard Institute EMEA


10 Steps Execution Success Process (XSP)

Clarify strategy into


operational and
measurable terms
Align the
organization to
strategy and
motivate
employees to help
execute

DEVELOPING
Step 2

Align
Organizational
units to achieve
corporate
synergies

Step 4

DEVELOP
Step 1

STRATEGY

STRATEGY

MAPS
Evaluate the strategy

Step 10

DEVELOPING
Step 3

Develop a customer
focused strategy

SUPPORT AND LEAD


TRANSFORMATIONAL CHANGE

BALANCED

Strategy Map
Balanced Scorecard
StratEx

SCORECARD

ALIGN
SCORECARD
TO
DEPARTMENTS

Align
employees to
the strategy

Step 5

Step 9

results

Strategy Map
Balanced Scorecard
StratEx

CASCADE
SCORECARD
TO
INDIVIDUALS

& UPDATE

Step 8

STRATEGY

CREATE NEW STRATEGY


MANAGEMENT OFFICE
performance
measures

EVALUATE

results

Review strategy
implementation

REVIEW
& MONITOR

Step 7

EXCECUTION

LINK
STRATEGY
TO
OPERATIONS

Step 6

Respond to shifts in
the environment and
the affects of the
strategic choices

Developing the Strategy


Developing the Balanced Scorecard
Framework
Driving Organizational Synergies
Achieving Organizational Excellence
Sustaining High Performance over the long term

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I-6

Module I - Introduction
Module Map

Module I.0:

Module I.1:

Module I.2:

Welcome About
Balanced Scorecard
Institute EMEA

Balanced Scorecard
Institute EMEA Value
Proposition

Balanced Scorecard
Institute EMEA Strategy
Management Approach
and
Balanced Scorecard
Institute EMEA Execution
Success Process TM XSP

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I-7

Module I - Introduction
I.0 Welcome About Balanced Scorecard Institute EMEA

Module I.0:

Module I.1:

Module I.2:

Welcome About
Balanced Scorecard
Institute EMEA

Balanced Scorecard
Institute EMEA Value
Proposition

Balanced Scorecard
Institute EMEA Strategy
Management Approach
and
Balanced Scorecard
Institute EMEA Execution
Success Process TM XSP
\

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I-8

Welcome!
We welcome
1. Name, Organisation, Position
2. Expectations
Benefits for you include
Participating in the course:
Learning is fun!
Networking
Preparation for the
Certification Exam

Balanced Scorecard Institute -EMEA

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I-9

Balanced Scorecard Institute EMEA Overview

BSCi EMEA is the regional leader in


helping organizations execute their
strategies to achieve outstanding results.
Based on materials and methodologies
by Balanced Scorecard creators - Drs.
Robert S. Kaplan and David P. Norton

Dr. Kaplan

Mission:
BSCi EMEA mission is to help our clients address
their most challenging and complex strategy
execution issues.

Vision:
We will be the most respected and recognized
regional firm in the Strategy Execution market,
known for our best-in-class strategy execution
expertise.

Dr. Norton

Services Include:

Consulting

Balanced Scorecard Institute -EMEA

Conferences

Education

www.balancedscorecard.co.uk

Technology

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I - 10

Executing Strategy: The #1 Issue

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 11

Four Barriers to Strategy Execution


The Vision Barrier
Only 5% of the workforce
understand the strategy
The People Barrier

The Management Barrier

9 of 10 companies
fail to execute strategy

Only 25% of managers have


incentives linked to overall
strategy

85% of executive teams


spend less than one hour
month discussing strategy

The Resource Barrier


60% of organizations do not
link budgets to strategy

Today s management systems were designed to meet the needs of stable


industrial organizations that were changing incrementally
You can t manage strategy with a system designed for tactics
Balanced Scorecard Institute -EMEA

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Module I - Introduction
I.1 Balanced Scorecard Institute EMEA Value Proposition

Module I.0:

Module I.1:

Module I.2:

Welcome About
Balanced Scorecard
Institute EMEA

Balanced Scorecard
Institute EMEA Value
Proposition

Balanced Scorecard
Institute EMEA Strategy
Management Approach
and
Balanced Scorecard
Institute EMEA Execution
Success Process TM XSP
\

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 13

Balanced Scorecard Institute EMEA Services


Strategy Design
Formulate strategy with a highly deductive, client driven approach designed for successful
execution.

Strategy Management
Build the capability to translate strategy, align the organization, measure and report
performance and efficiently deploy resources to achieve breakthrough results.

Innovation

Identify and deploy new business models and develop new, highly differentiated ways to
engage stakeholders and customers through innovation of key interactions and experiences.

Leadership and Change Management

Assist leaders (directors, executives, managers) to enhance their capabilities to execute


strategy through coaching, mentoring and effective change processes that help eliminate
internal barriers to successful execution.

Operational and Information Excellence

Identify, understand, and manage the critical drivers of operational performance and build the
appropriate governance, reporting and information management disciplines to drive better,
faster and more accurate decision making.

Risk and Governance


Improve the management and measurement of enterprise, strategic and operational risk, and
Board and executive governance.

Balanced Scorecard Institute -EMEA

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I - 14

Another Framing of Strategy Execution

Execution

Right

Wrong

Better than
anyone
would have
expected

Stunning
victory

Unmitigated
disaster

Profound
disappointment

Wrong

Right

Strategy
Thing

Balanced
Scorecard
Institute EMEA s
purpose is to
help our clients
achieve
stunning
victories

Adapted from The MacIntosh Way, Guy Kawasaki

Balanced Scorecard Institute -EMEA

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I - 15

Balanced Scorecard Institute EMEA Framework Results



Independent research demonstrates that companies using
Balanced Scorecard Ins5tute EMEAs frameworks achieve 27% greater
growth in shareholder value over a three year period than
non-Balanced Scorecard users

51%

50%
40%

27%

The
Execution
Success

30%
20%

24%

10%

Time of
Investment

Control
Firms

BSC
Firms

Sample: 164 Publicly Traded Firms


Source: The eects of adop2ng the Balanced Scorecard on shareholder
returns,
Aaron Crabtree and Gerald DeBusk, Advances in Accoun2ng, June 2008

Balanced Scorecard Institute -EMEA

Balanced Scorecard Institute EMEA s


frameworks help companies realize improved
execution of value creation strategies
through:
Alignment throughout the organization of
objectives and initiatives with the strategy
Better visibility into performance drivers and
improved measurement of leading indicators of
performance
More explicit internal accountability for execution
Faster identification and correction of
performance issues
Improved confidence that:
The strategy is appropriate
The management team is capable
Execution is happening

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Balanced Scorecard Institute EMEA Framework Results


BSC Hall of Fame Organizations have achieved even greater improvements


in shareholder value

3 Year Increase in Shareholder Value

225%

51%

24%
No BSC (1)

BSC Users (1)

Sources:
(1) Crabtree DeBusk (2008)
(2) Balanced Scorecard Ins5tute EMEA Research

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

BSC Hall of Fame


Organiza5ons (2)

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Linked Left Brain, Right Brain Approach to Drive a


Comprehensive Execution Program
Left Brain Activities:
Planning: Determining and assigning:
What are we going to do?

Stakeholders
Board

Elements of the integrated planning


process:

Converting integrated plans into


comprehensive execution :

CEO

Strategy-driven planning using XSP


framework
Scenario development and testing to
understand uncertain future
Business model innovation to drive
new consumer driven mindset

SBU

Right Brain Activities:


Execution: Realizing the
objectives of the plan

Systematic change management


program
Organization alignment and
mobilization
Communication and participation
strategies

Corporate

Group

Division

SBU

SBU

SBU

SBU

Employees

Balanced Scorecard Institute -EMEA

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I - 18

Clarify strategy into


operational and
measurable terms
Align the
organization to
strategy and
motivate
employees to help
execute

Balanced Scorecard Institute EMEA


10 Steps Execution Success Process (XSP)
DEVELOPING
Step 2

Align
Organizational
units to achieve
corporate
synergies

Step 4

DEVELOP
Step 1

STRATEGY

STRATEGY

MAPS
Evaluate the strategy

Step 10

DEVELOPING
Step 3

Develop a customer
focused strategy

SUPPORT AND LEAD


TRANSFORMATIONAL CHANGE

BALANCED

Strategy Map
Balanced Scorecard
StratEx

SCORECARD

ALIGN
SCORECARD
TO
DEPARTMENTS

Align
employees to
the strategy

Step 5

Step 9

results

Strategy Map
Balanced Scorecard
StratEx

CASCADE
SCORECARD
TO
INDIVIDUALS

& UPDATE

Step 8

STRATEGY

CREATE NEW STRATEGY


MANAGEMENT OFFICE
performance
measures

EVALUATE

results

Review strategy
implementation

REVIEW
& MONITOR

Step 7

EXCECUTION

LINK
STRATEGY
TO
OPERATIONS

Step 6

Respond to shifts in
the environment and
the affects of the
strategic choices

Developing the Strategy


Developing the Balanced Scorecard
Framework
Driving Organizational Synergies
Achieving Organizational Excellence
Sustaining High Performance over the long term

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 19

The Balanced Scorecard Institute EMEA Strategy Management Approach is


built upon a consistent philosophy of management
The Balanced Scorecard Institute EMEA Strategy Management System
Balanced Scorecard Institute EMEA XSP
An Integrated
Management
System

The Balanced Scorecard Management Philosophy


A Philosophy of
Management

1.

MOBILIZE: Executive Leadership to Mobilize Change

2.

TRANSLATE: Translate Strategy to Operational Terms

3.

ALIGN: Align the Organization to the Strategy

4.

MOTIVATE: Make Strategy Everyone s Job

5.

GOVERN: Make Strategy A Continual Process

The Balanced Scorecard Value Creation Model

An Economic
Model of Value
Creation

Four measurement
perspectives balance lag
and lead indicators
Measures and targets
define performance gaps
Strategic initiatives close
performance gaps

Strategy is
A hypothesis of value creation
Multiple complimentary themes
A customer value proposition
Alignment of business
processes
Readiness of intangible assets

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 20

Module I - Introduction
I.2 Balanced Scorecard Institute EMEA Strategy Management Approach
and Balanced Scorecard Institute EMEA 10 steps Execution Success
Process TM - XSP

Module I.0:

Module I.1:

Module I.2:

Welcome About
Balanced Scorecard
Institute EMEA

Balanced Scorecard
Institute EMEA Value
Proposition

Balanced Scorecard
Institute EMEA Strategy
Management Approach
and
Balanced Scorecard
Institute EMEA Execution
Success Process TM - XSP

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 21

Clarify strategy into


operational and
measurable terms
Align the
organization to
strategy and
motivate
employees to help
execute

Balanced Scorecard Institute EMEA


10 Steps Execution Success Process (XSP)
DEVELOPING
Step 2

Align
Organizational
units to achieve
corporate
synergies

Step 4

DEVELOP
Step 1

STRATEGY

STRATEGY

MAPS
Evaluate the strategy

Step 10

DEVELOPING
Step 3

Develop a customer
focused strategy

SUPPORT AND LEAD


TRANSFORMATIONAL CHANGE

BALANCED

Strategy Map
Balanced Scorecard
StratEx

SCORECARD

ALIGN
SCORECARD
TO
DEPARTMENTS

Align
employees to
the strategy

Step 5

Step 9

results

Strategy Map
Balanced Scorecard
StratEx

CASCADE
SCORECARD
TO
INDIVIDUALS

& UPDATE

Step 8

STRATEGY

CREATE NEW STRATEGY


MANAGEMENT OFFICE
performance
measures

EVALUATE

results

Review strategy
implementation

REVIEW
& MONITOR

Step 7

EXCECUTION

LINK
STRATEGY
TO
OPERATIONS

Step 6

Respond to shifts in
the environment and
the affects of the
strategic choices

Developing the Strategy


Developing the Balanced Scorecard
Framework
Driving Organizational Synergies
Achieving Organizational Excellence
Sustaining High Performance over the long term

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 22

Why the Balanced Scorecard Institute EMEA Approach is the Framework of


Choice for Strategy Management?
% of Organizations Using This Framework

q
Dominant Market
Penetration
q Intellectual Roots

Framework
The Balanced Scorecard
None (Customized)
Total Quality Management

q It Works

q Executive
Testimonials

62%
15%
Baldrige (7)
Six Sigma (5)
EFQM (1)

Shareholder Value (EVATM)

13%

3%

Other

7%

Value Dynamics / Accenture (1)


PWC (1)
Etc.

10

20

30

40

50

60

70

* Scorecard Best Practices; Lawson, Hatch, Desroches; Wiley 2008

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 23

Balanced Scorecard is One of the Most Important Management Ideas of


the 20th Century
In 1997 HBR identified the Balanced Scorecard as
one of the most important ideas in the past 75 years.

In June 2012, the Balanced Scorecard Report marked


the 20th anniversary of the Balanced Scorecard.

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 24

Balanced Scorecard is One of the Most Important Management Ideas of the


20th Century
Bain & Company s 2011 Management Tools and Trends survey reveals widespread use of the
Balanced Scorecard:
for 2010 Balanced Scorecard ranked #6 among the top 10 most used management tools
the Balanced Scorecard is used across companies of all sizes and usage is forecasted to
grow

2010 Top Management Tools

BAIN & COMPANY

Management Tools &


Trends 2011
By Darrell Rigby and Barbara Bilodeau

1.

Benchmarking

2.

Strategic Planning

3.

Mission and Vision Statements

4.

CRM

5.

Outsourcing

6.

Balanced Scorecard

7.

Core Competencies

8.

Change Management Programs

9.

Strategic Alliances

10. Customer Segmentation

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 25

The Balanced Scorecard is the Dominant Approach to Comprehensive


Performance Management

q Dominant Market
Penetration
q
Intellectual Roots
q It Works

q Executive
Testimonials
q One million books sold
q 22 languages

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 26

Why the Balanced Scorecard Approach is the Framework of Choice for


Strategy Management?

q Dominant Market
Penetration

Research studies show that Balanced Scorecard


users create dramatically higher levels of shareholder
value for their organizations
Three-year post-adoption performance ( Buy and Hold Returns ) of matched BSC firms vs.
control firms
BSC Firms
(mean)

Control Firms
(mean)

Difference

q Market value of equity

50.72%

23.60%

27.12%

q Book to Market

39.14%

8.97%

30.17%

q Net Assets

41.05%

13.47%

27.58%

q Average 3-Year Buy


and Hold Returns

43.6%

15.4%

28.2

Matching
Criteria

q Intellectual Roots
q
It Works
q Executive
Testimonials

Sample: 164 publicly traded firms


Reference: The effects of adopting the Balanced Scorecard on shareholder returns, Aaron
Crabtree and Gerald DeBusk, Advances in Accounting, June 2008, Elsevier
(www.elsevier.com)

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

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I - 27

Balanced Scorecard Users are Successful Organizational Results


Demonstrate BSC Impact
Banco Estado Microempresas [BEME], Chile
From 2003-2008:
EBITDA rose from $5M to $16.2M
Loan placement went from $120M to $650M
BEME s customer base tripled

Dubai Electricity & Water Authority [DEWA], UAE


From 2000-2007:
Revenues more than doubled from AED 2.7B to AED 6B
Customer Satisfaction increased 10% to 95%

Infosys Technologies, India


From 2003-2007:
Revenue jumped 310%, operating income grew 289%
Earnings per Share went from $0.37 to $1.50 a 305% gain
Number of active clients rose from 293 to 500

Nemours, US

Revenues increased from 6.4% from 2006 to 2007


Achieved a breakthrough increase of 10% in patient satisfaction
Calls to make doctor appointments rose 30%

City of Corpus Christi, Texas, US

From FY 2006-2007 to FY 2007-2008:


Service reliability & speed improved avg. caller wait time decreased from 38 to
31seconds, then to 19 seconds by 4/09
Expenditures as a % of budget fell from 94% to 89%, then to 82% by 4/09

Balanced Scorecard Institute -EMEA

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I - 28

Some Executive Perspectives: Why We Need A Management Platform

q Dominant Market
Penetration
q Intellectual Roots
q It Works

Executive
q
Testimonials

The BSC is much more than just a goal setting and


measurement device. Its a common language and even an
element of our corporate culture.
Sergey Leontiev
CEO
Financial Group Life, Moscow
We have used the Balanced Scorecard to keep a clear focus on
our strategy and the role every employee plays in achieving
high levels of performance. It has transformed our culture.
Ralph Izzo
CEO
Public Service Electric & Gas Co.
We came looking for measures and found a new way to
manage.
Peter Aldrich
CEO
HSBC Rail

Balanced Scorecard Institute -EMEA

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I - 29

Types of Misalignment

Competing Goals

Lack of Direction
The organization lacks a vision of
what it wants to be; everyone
does what they believe is best

Different communities within


the organization disagree about
vision and strategy

Disconnected Leadership
Leadership has a vision and strategy but
has not communicated it to the rest of the
organization

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

The Wrong Goal


The organization is united in a
direction which does not create
value for shareholders

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I - 30

Why does BSC Work?

Two words
Focus

Alignment
Balanced Scorecard Institute -EMEA

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I - 31

ALIGNMENT ARROWS
IDEAL!

People heading in the same direction

Results

CURRENT

Lack of
Results

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

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I - 32

Balanced Scorecard Hall of Fame for Executing Strategy


By Industry 2000-2011

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 33

Clarify strategy into


operational and
measurable terms
Align the
organization to
strategy and
motivate
employees to help
execute

Balanced Scorecard Institute EMEA


10 Steps Execution Success Process (XSP)
DEVELOPING
Step 2

Align
Organizational
units to achieve
corporate
synergies

Step 4

DEVELOP
Step 1

STRATEGY

STRATEGY

MAPS
Evaluate the strategy

Step 10

DEVELOPING
Step 3

Develop a customer
focused strategy

SUPPORT AND LEAD


TRANSFORMATIONAL CHANGE

BALANCED

Strategy Map
Balanced Scorecard
StratEx

SCORECARD

ALIGN
SCORECARD
TO
DEPARTMENTS

Align
employees to
the strategy

Step 5

Step 9

results

Strategy Map
Balanced Scorecard
StratEx

CASCADE
SCORECARD
TO
INDIVIDUALS

& UPDATE

Step 8

STRATEGY

CREATE NEW STRATEGY


MANAGEMENT OFFICE
performance
measures

EVALUATE

results

Review strategy
implementation

REVIEW
& MONITOR

Step 7

EXCECUTION

LINK
STRATEGY
TO
OPERATIONS

Step 6

Respond to shifts in
the environment and
the affects of the
strategic choices

Developing the Strategy


Developing the Balanced Scorecard
Framework
Driving Organizational Synergies
Achieving Organizational Excellence
Sustaining High Performance over the long term

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 34

Balanced Scorecard Institute EMEA Certification Master Class


Training Module Map
Day 1
Introduction
Step 1 Develop Strategy
Day 2
Step 2 Develop Strategy Maps
Step 3 Develop Balanced Scorecard

Day 3
Step 4 Align Scorecards to Depts
Step 5 Cascade Scorecards to Individuals
Day 4
Step 6 Link Strategy to operations
Step 7 Review and Monitor Execution
Step 8 Evaluate and Update Strategy
Day 5
Step 9 Create Office of Strategy Management OSM
Step 10 Support and Lead Transformational Change

Balanced Scorecard Institute -EMEA

www.balancedscorecard.co.uk

info@balancedscorecard.co.uk

I - 35