Strategy Management with a Strategy Map and its Balanced Scorecard
Instructor: Live: One Dial-in One Attendee
Corporate Live: Any number of participants
Recorded: Access recorded version, only for one participant unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)
Corporate Recorded: Access recorded version, Any number of participants unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)
Most executive teams are reasonably good at formulating their organization’s strategy, or they hire consultants to help them. A major frustration with executives is the failure to successfully implement and execute their strategy.
The strategy map and its associated Balanced Scorecard, a methodology developed by Drs. Robert S. Kaplan and David Norton, recognized this problem. They observed the problem of executive managements’ excessive emphasis on after-the-fact, short-term financial results. Their strategy map resolves this myopia and improves organizational performance by shifting attention from financial measures (referred to as key performance indicators, KPIs) to managing non-financial operational measures related to customers, internal processes, and employee innovation, learning and growth. These influencing measures are reported during the period when sooner reactions can occur. This in turn leads to better financial results.
The enterprise performance management (EPM) seamlessly integrates many EPM methods including strategy maps and a balanced scorecard. Together these two tools align manager and employee behavior, actions, and priorities with the executives’ strategy using key performance indicators (KPIs) with specific KPI targets to enable accountability.
Why should you Attend:
- To understand the origins of the balance scorecard
- To learn how to design a strategy map
- To learn how to define appropriate key performance indicators (KPIs)
- To determine how to apply targets of KPIs for motivation and incentives
Areas Covered in the Session:
- How to design a strategy map and identify the strategy’s required projects or core process improvements which lead to selecting KPIs
- How to differentiate strategic KPIs from operational performance indicators which cascade downward from the strategic KPIs
- How to deploy a "quick start" implementation in two days to iteratively expand to a balanced scorecard production system in a few weeks
Who Will Benefit:
- CxO's
- CFO's
- Financial Officers and Controllers
- Managerial and Cost Accountants
- Financial and Business Analysts
- Budget Managers
- Strategic Planners
- Marketing and Sales Managers
- Supply Chain Analysts
- Risk Managers
- CIO and Information Technology Staff
- Board of Directors
Gary began his career as a strategic planner with FMC’s Link-Belt Division and then served as Financial Controller and Operations Manager. In 1981 Gary began his management consulting career first with Deloitte consulting, and then in 1988 with KPMG consulting. 1992 Gary headed the National Cost Management Consulting Services for Electronic Data Systems (EDS) now part of HP. From 1997 until 2012 Gary was in business development with SAS, a leading provider of enterprise performance management and business analytics and intelligence software.
His two most recent books are Performance Management: Finding the Missing Pieces to Close the Intelligence Gap (ISBN 0-471-57690-5) and Performance Management: Integrating Strategy Execution, Methodologies, Risk, and Analytics (ISBN 978-0-470-44998-1). His most recent book co-authored with Larry Maisel is Predictive Business Analytics (ISBN 978-1-118-17556-9) published by John Wiley & Sons. Mr. Cokins can be contacted at gcokins@garycokins.com .