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Mumbai: Global Management Consulting firm, BMGI has scheduled a 1 day workshop on the Balanced Scorecard in Mumbai. Research shows that 9 out of 10 companies* fail to execute strategy successfully. Behind this lies an undeniable fact: many companies continue to use management processes that are financially driven & tactical - that were designed to run yesterday's organisation and not drivers of performance.
Co-authored by Harvard faculty Dr. Robert S. Kaplan and Dr. David P. Norton, the Balanced Scorecard (BSC) is an innovative yet practical management philosophy that provides organisations with such a framework.
The Balanced Scorecard provides a framework to describe a strategy by linking intangible (cycle time, market share, innovation, satisfaction & competencies) & tangible assets (financials) in value-creating activities. The Balanced Scorecard approach not only retains measures of financial performance but also supplements them with measures on the drivers, lead indicators, of future financial performance with an emphasis on 'measuring the strategy'. By linking measures directly to strategic initiatives, the organisation stays focused and is able to move towards long-term goals.
Participants can expect to get practical advice on the preparation & implementation of a Balanced Scorecard for their respective organisations. They shall walk away with a transformational approach to managing corporate performance, implement strategy & drive growth.
Key topics to be covered at the workshop include a) Introduction to Balanced Scorecard: Becoming a Strategy Focused Organisation, b) Balanced Scorecard - The four perspectives: Cause & Effect relationships, c) Deployment of strategies through the Balanced Scorecard: Strategic themes/ objectives & initiatives, d) Introduction to Strategic Metrics: Lead & Lag Measures, e) Defining the Balanced Scorecard - making strategy everyone's job: Approach. Implementation structure & issues. Review and mechanism to sustain effort.
Commenting on this development, Mr.Naresh T Raisinghani, CEO of BMGI stated "Organisations are becoming acutely aware that strategy, if it needs to be implemented, requires also the team outside the boardroom to be aligned."
BMGI has conducted several such strategy led workshops in the past across India & its workshops have met with success & elicited positive feedback from the Industry captains.
[BWI]