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What you'll learn?
- Criticism on “financial numbers only” approach
- Vision & Strategy – Critical Success Factors – KPIs – 4 Dimensions
- Top-down, bottom-up approach or both?
- Customers perspective
- Learning & growth perspective
- Internal business processes perspective
- Financial perspective
Historically, due to legal and regulatory requirements, financial information has always been available in a company. Being the fiscal authorities, the stock markets and stock market regulators, the national statistics offices or even the national banks, companies need to prepare statutory accounts. In most of the companies there might be also management accounts available for the internal (decision making) needs.
In other areas, however, the information is most of the time non-existent, scarce, obtained and acted upon in non-systemic manners.
Also, the financial information is by it's nature more of an effect oriented type of information and less of a cause oriented type of information. The performance (or lack thereof) is signaled by events, phenomenon and changes taking place in the entire organization and environment, sometimes visible long before we see the financial information. Future projections (like budgets) should not be confused which such signals as they only express wishes and are used like steering instruments.
To complement the financial information (which also should not be left outside) a tool such as the balanced scorecard was created, increasing awareness about three other, considered fundamental, dimensions (or directions) in which a business should look in order to understand it's performance (customers, learning and growth (or development) and internal processes).
For an FP&A professional, especially if they are used working only with financial KPIs, this course might be an eye-opener. For the others it is a good exercise in understanding the complexity of the modern organizations.
- A minimum of management / business knowledge. Knowing what an organizational chart is.
- FP&A (Performance Management specialists) or any other employee preparing to start building and operating a balanced scorecard.
- Seasoned FP&A professionals in search of new horizons and different perspectives.
- Managers of all levels with responsibilities in performance management.
Curriculum 8 Lectures 01:11:00
Section 1 : The balanced scorecard
- Lecture 1 :
- Part I - Introduction and summary Preview
- Lecture 2 :
- Part II - Why a balanced scorecard
- Lecture 3 :
- Part III - Characteristics
- Lecture 4 :
- Part IV - Potential shortages
- Lecture 5 :
- Part V - Top-down or bottom-up
- Lecture 6 :
- Part VI - The four dimensions and setup
- Lecture 7 :
- Part VII - Practical example
- Lecture 8 :
- Part VIII - Homework and wrap-up
Our learners work at
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