Strategy Map and Its Balanced Scorecard 1 Credit
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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 management's 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. Enterprise performance management (EPM) seamlessly integrates many EPM methods including strategy maps and a balanced scorecard.
This CPE Finance webinar will highlight how 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.
This CPE course by Gary Cokins will answer the following questions:
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Gary Cokins is an internationally recognized expert, speaker, and author in enterprise and corporate performance management improvement methods and business analytics. He is the founder of Analytics-Based Performance Management, an advisory firm located in Cary, North Carolina at www.garycokins.com . Gary received a BS degree with honors in Industrial Engineering/Operations Research from Cornell University in 1971. He received his MBA with honors from Northwestern University’s Kellogg School of Management in 1974.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. In 1992 Gary headed the National Cost Management Consulting Services for Electronic Data Systems (EDS) now part of HP. From 1997 until 2013 Gary was a Principal Consultant with SAS, a leading provider of business analytics software.
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Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
JB
I love this subject and would love to get aligned with working with clients for this very impactful process. I have worked with PE firms that bypass this leading to a mass deterioration of the organization. My belief is most people do not drive to work anticipating mediocrity.
RB
Great information
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