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Strategy Map and Its Balanced Scorecard 1 Credit

Mar 26, 2024, 04:00 PM ET

Strategy Map and Its Balanced Scorecard 1 Credit

  • Rating

    4.5
  • Reviewed on

    January, 2024
  • Subject Area

    Finance

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Mar 26, 2024, 04:00 PM ET

Learning Objective

  • To discuss the origins of the balanced scorecard.
  • To analyze how to design a strategy map.
  • To explain how to define appropriate key performance indicators (KPIs).
  • To inspect how to apply targets of KPIs for motivation and incentives.

Course Overview

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:

  • How do 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 down 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?

On Demand Credits for All Qualifications

Nano Credits for All Qualifications

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Finance for Certified Public Accountants (CPA-US) 1 CPE Approved
Finance for CPA in Canada 1 CPD Eligible
Performance Management for Certified Management Accountants (CMA) 1 CPE Eligible
Finance for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 1 CPD Eligible
Chartered Accountant - ICAEW 1 CPD Eligible
Finance for Certified Valuation Analyst (CVA) 1 CPE Eligible
Finance for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Eligible
Finance for Maine Licensed Public Accountant (ME-LPA) 1 CPE Eligible
Certified Treasury Professional (CTP) 1 CE Eligible
Chartered Accountants - Ireland (CAI) 1 CPD Eligible
Chartered Accountants - Scotland 1 CPD Eligible
CPA - Ireland 1 CPD Eligible
Finance for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1 CPE Eligible
General finance principles and financial concepts for Certified FP&A Professional (FP&A) 1 CE Eligible
License details Credits Status
Finance for Certified Public Accountants (CPA-US) 1 CPE Approved
Finance for CPA in Canada 1 CPD Eligible
Performance Management for Certified Management Accountants (CMA) 1 CPE Eligible
Finance for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 1 CPD Eligible
Chartered Accountant - ICAEW 1 CPD Eligible
Finance for Certified Valuation Analyst (CVA) 1 CPE Eligible
Finance for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Eligible
Finance for Maine Licensed Public Accountant (ME-LPA) 1 CPE Eligible
Certified Treasury Professional (CTP) 1 CE Eligible
Chartered Accountants - Ireland (CAI) 1 CPD Eligible
Chartered Accountants - Scotland 1 CPD Eligible
CPA - Ireland 1 CPD Eligible
Finance for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1 CPE Eligible
General finance principles and financial concepts for Certified FP&A Professional (FP&A) 1 CE Eligible
License details Credits Status
Finance for Certified Public Accountants (CPA-US) 1 CPE Approved
Finance for CPA in Canada 1 CPD Eligible
Performance Management for Certified Management Accountants (CMA) 1 CPE Eligible
Finance for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 1 CPD Eligible
Chartered Accountant - ICAEW 1 CPD Eligible
Finance for Certified Valuation Analyst (CVA) 1 CPE Eligible
Finance for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Eligible
Finance for Maine Licensed Public Accountant (ME-LPA) 1 CPE Eligible
Certified Treasury Professional (CTP) 1 CE Eligible
Chartered Accountants - Ireland (CAI) 1 CPD Eligible
Chartered Accountants - Scotland 1 CPD Eligible
CPA - Ireland 1 CPD Eligible
Finance for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1 CPE Eligible
General finance principles and financial concepts for Certified FP&A Professional (FP&A) 1 CE Eligible
License details Credits Status
Finance for Certified Public Accountants (CPA-US) 1 CPE Approved
Finance for CPA in Canada 1 CPD Eligible
Performance Management for Certified Management Accountants (CMA) 1 CPE Eligible
Finance for Accredited in Business Valuation (ABV) 1 CPD Eligible
Finance for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 1 CPD Eligible
Chartered Accountant - ICAEW 1 CPD Eligible
Finance for Certified Valuation Analyst (CVA) 1 CPE Eligible
Finance for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Eligible
Finance for Maine Licensed Public Accountant (ME-LPA) 1 CPE Eligible
Certified Treasury Professional (CTP) 1 CE Eligible
Finance for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1 CPE Eligible
General finance principles and financial concepts for Certified FP&A Professional (FP&A) 1 CE Eligible
Chartered Accountants - Ireland (CAI) 1 CPD Eligible
Chartered Accountants - Scotland 1 CPD Eligible
CPA - Ireland 1 CPD Eligible

Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Live CPE Webinars by Gary Cokins for Accountants CPA/ABV
Gary Cokins , CMA

Advisor, Gary Cokins

  • 4.5
  • rating
  • rating
  • rating
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  • rating

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.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course 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.

How are credits reported to governing bodies?

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.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

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.

What are the requirements to maintain compliance with live webinar courses?

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.

How can I access my webinar completion certificates?

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.

How are credits reported to governing bodies?

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.

Reviews and Ratings

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JB

Joyce Bailey, CPA (US)
5

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

Robert Baker, CPA (US)
5

Great information

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