Learning Objectives
This seminar will answer and instruct you on the following questions:
- Why have so many early generation Balanced Scorecards failed?
- What have been the stages of evolution of Balanced Scorecard over the last 10+ years?
- How does the 3rd Generation design process address earlier weaknesses?
- How does the 3rd Generation design process work in practice?
- What are the components of a 3rd Generation Balanced Scorecards?
- How does each component contribute to successful strategic control?
Program content
The seminar examines the evolution of this popular management framework, from its conception in 1992 to its latest incarnation as documented by 2GC Active Management.
While Kaplan & Norton clearly struck a chord, application on the ground and in the boardroom has not always been successful. Bluntly, many Balanced Scorecard implementations did not delivered their intended benefits. The reasons for this are various, but can usually be attributed to design process weaknesses, including a failure to articulate a consensus view of organisational priorities, and measure irrelevance, as well as a lack of ownership by responsible management teams.
The 3rd Generation Balanced Scorecard differs significantly from its predecessors, both in its design process and components. This evolution has been driven by practical experience gained through dozens of Balanced Scorecard implementations and has been demonstrated to deliver a more meaningful and user-friendly final product. The 3rd Generation design process accommodates the typical obstacles to success, for example, limited management time, implicit disagreement on priorities and measure misalignment. The components making up the 3rd Generation Scorecard are also different from earlier versions, including Destination Statements and Strategy Maps, that make explicit the actions and outcomes required and their inter-relationships.
Participant level of understanding
This program is intended for participants with a basic or intermediate level of understanding on the topic.
Prerequisites:
There are no prerequisites for this seminar.
Advance Preparation
There is no advanced preparation required for this seminar.
Who Should Attend?
Executives, Directors, Managers and Analysts who want a better understanding of how the use of business intelligence, data warehousing and analytic applications can contribute to a company's success.
About Gavin Lawrie
Gavin Lawrie is Managing Director of 2GC, a research-led consultancy that focuses on issues relating to strategic control and performance measurement.
He is one of the leading experts on the Balanced Scorecard and its underlying management processes. He has over 10 years strategic consulting and project management experience gained in a variety of industries, and has worked with the executive management and board level of blue chip companies on commercial policy and strategic management issues.
Gavin holds an MBA degree from London Business School, and a BEng Degree from the University of London. Among other things, he is a member of the Chartered Institute of Marketing, and the Strategic Planning Society.
About 2GC Active Management
2GC is a research led consultancy established in early 1999 in Maidenhead, UK. We focus on addressing the Strategic Control and performance measurement issues faced by both commercial and non-profit organizations.
Central to much of 2GC's work is the application of the Balanced Scorecard.
2GC has offices in the UK, Portugal, India and Australia. We also have partner organizations in the USA, France, Germany, Turkey, South Africa and the UK. Together with its partners, 2GC is able to work with clients in most countries.
