Strategic Planning Using Balanced Scorecard

The Balanced Scorecard is a concept that translates the strategy and goals that the company wants to achieve in the long term, which is then measured and monitored on an ongoing basis. The Balanced Scorecard has become the approach that is needed to measure the company's overall performances, by combining traditional measurements by using the financial parameters with non-financial measures in a balanced way, using four perspectives, namely: financial, customer, prospective internal business processes, and human resources (HR).

The focus of the Balanced Scorecard is to improve the management process in translating the vision and strategies. Besides, it is also for determining the communication and relationship management objectives and strategies, targeting the plans and strategic initiative alliances, and last but not least, the feedback-learning strategy.

The Balanced Scorecard can be cascaded down to a team performance measurement unit or employee as an individual, or the so-called Key Performance Indicator to implement strategies to achieve the desired goals.

Key Performance Indicator (KPI) is an indicator to measure the company's performance in achieving the company's strategies and operational objectives. As explained previously, KPIs help a company determines what progress has been made and achieved.

Each strategic goal will be equipped with the Key Performance Indicators (KPI) and an action plan that is improvement-based or routine-based.

Program Objective After participating in this balanced scorecard training, participants will be able to:

• Understand the basic concepts of the Balanced Scorecard

• Understand the benefits of the Balanced Scorecard

• Understand the process of developing the Balanced Scorecard

• Understand the steps for implementing the Balanced Scorecard

• Understand how to develop the Key Performance Indicator for a department and individuals