Course Description

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.

This presentation by a leading practitioner and author, Gary Cokins, will cover:

• How strategy maps and their companion balanced scorecards communicate strategic objectives with target-setting to help cross-functional employee teams align their behavior to the strategy and better collaborate.
• 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.

Learning Objectives

• Identify the origins of the balance scorecard.
• Recognize how to design a strategy map.
• Identify how to define appropriate key performance indicators (KPIs).
• Discover how to apply targets of KPIs for motivation and incentives.

Prerequisites

• None

Who Should Attend

CPAs, accounting/finance professionals, and executives who work on strategic objectives.