Day 1:
Foundations of the Balanced Scorecard
Introduction to the Balanced Scorecard framework and its evolution.
Understanding the four perspectives: financial, customer, internal processes, and learning & growth.
Linking organizational strategy to measurable objectives.
Case study analysis: Successful implementation of the BSC in a service-based industry.
Day 2:
Financial Metrics and Non-Financial Indicators
Review of traditional financial metrics and their limitations.
Identifying key non-financial indicators relevant to financial performance.
Techniques for integrating financial and non-financial data.
Workshop: Building a preliminary Balanced Scorecard.
Day 3:
Compliance and Reporting Standards
Overview of IFRS, GAAP, and other regulatory frameworks.
Ensuring compliance in performance measurement and reporting.
Addressing ethical considerations in financial evaluations.
Group activity: Auditing a sample Balanced Scorecard for compliance.
Day 4:
Strategic Alignment and Operational Efficiency
Aligning financial objectives with organizational mission and vision.
Mapping internal processes to financial outcomes.
Leveraging technology for data collection and analysis.
Real-world example: How automation improved scorecard implementation in a manufacturing firm.
Day 5:
Continuous Improvement and Future Trends
Establishing feedback mechanisms for ongoing evaluation.
Exploring emerging trends in performance measurement and analytics.
Developing a roadmap for organizational adoption of the BSC.
Final project: Presenting a customized Balanced Scorecard framework.
