Introduction to Balanced Scorecard Concept

“Balanced Scorecard” is a powerful tool for effectively “Balancing Your Strategy”, systematic implementation through “Strategic Initiatives”, deploying it across all business functions and departments. It is essential to align your processes and people and performance management system, PMS, in achieving your mission and vision.

We would like to mention here that the “Balanced Scorecard” is a powerful tool for translating your strategy into operational & measurement language and monitor organization performance. This concept was first published by Dr. Kaplan and David Norton during 1991-92 in Harvard Business Review as measurement tool, but it became very popular tool for Strategy Deployment and Performance Management.

“The Balanced Scorecard is one of the most important management practices of the past 75 years”

Harvard Business Review.

Key Benefits of this tool:

· Validating the Strategy with Cause & Effect linkages through Strategy Map.

· Translating Strategy into Operational and Measurement Language through Balanced Scorecard to know that.

· Strategy is being deployed.

· Strategy is Giving Expected Results.

· Results achieved etc.

· Identifying the Strategic Initiatives to achieve the Strategic Goals.

· Aligning all Divisions/ Departments to Strategy by preparing “Divisional/ Departmental BSCs”.

· Identifying the Processes and their effectiveness measures.

· Designing PMS.

· Reviewing the performance etc.

Facilitator

Dr. Ajaya Shankar Gupta

Mining Engineer with MBA and PhD having +37 Years of Industry Experience. Prepared more than 450 Scorecards and trained more than 1000 executives on Balanced Scorecard. His PhD topic was “Fit between Balanced Scorecard – Business Excellence Award Model CII-EXIM /EFQM (BSC-BEM Fit) and Strategic Performance Management System – A Study in India”

He has the following credits to his experience in the area of Balanced Scorecard:

Tata Steel (Mines Division), Tata Projects, NTPC – 4 Power Plants, Gulf Oil Ltd ,Ispat Industries, NSPCL- Bhilai, ITPCL- Cuddaloor, Abhijeet Ferro Alloys Plant, Mihan Power Plant, Nagpur and Number of Open Training Programmes on BSC at Hyderabad, Delhi, Pune, Vishakhapatnam, Bangalore, Nigeria and Online..

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Frequently Asked Questions

How long do I have access to the course materials?

You can view and review the lecture materials indefinitely, like an on-demand channel.

Can I take my courses with me wherever I go?

Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don’t have an internet connection, some instructors also let their students download course lectures. That’s up to the instructor though, so make sure you get on their good side!