Balanced Scorecard

This training program gives extensive knowledge about the Balanced Scorecard (BSC) to a trainee. After doing this training one becomes adept in using the BSC tool for tracking and improving performance of a business.

The duration of the training program is 3 months. On successful completion of training one gets certification in Balanced Scorecard Tool from International Academy. This certification is widely recognized and respected.

This training program is almost a crash course in management. After completing this training one will become a better manager. One will be able to understand the nature, purpose and functioning of modern companies and businesses in a better way. With this knowledge in hand one is more likely to get a better job.

Those working as managers or supervisors should do this training program. Those aspiring to become managers should do this training program. If you are doing a management degree or diploma program from regular or correspondence medium then you should do this training program and increase your understanding of management.

Those who aspire to do a crash course in management should do this training program. If you are an entrepreneur or you have your own business that you have inherited, or you aspire to have your own business someday then this training program is for you.

International Academy is a leader in training & skills development. Its BSC training program is unique in its category. The program is highly affordable and convenient for trainees.

International Academy is promoted and led by alumni of IIT (Delhi), MIT (Boston) and IIM (Calcutta). It is presently India’s largest education company for working professionals. It has provided training & certification to more than 60000 working professionals. It provides training & certification in more than 80 areas. The certification given by it is often in collaboration with top institutes of India.

International Academy’s clientele is not limited to India but extends across the globe. In 2012 International Academy won the Red Herring Top 100 Asia Award for innovation in the field of training & education. International Academy is ISO 9001 certified by TUV-SVD. It is registered with National Skill Development Agency, Government of India. Its commitment and record on quality is also reflected by the fact that it is a member of American Society of Quality (ASQ).

• its focus on the strategic agenda of the organization concerned
• the selection of a small number of data items to monitor
• a mix of financial and non-financial data items.

Balanced scorecard is an example of a closed-loop controller or cybernetic control applied to the management of the implementation of a strategy. Closed-loop or cybernetic control is where actual performance is measured, the measured value is compared to a reference value and based on the difference between the two corrective interventions are made as required. Such control requires three things to be effective:

• a choice of data to measure,
• the setting of a reference value for the data,
• the ability to make a corrective intervention.

• Within the strategy management context, all three of these characteristic closed-loop control elements need to be derived from the organisation's strategy and also need to reflect the ability of the observer to both monitor performance and subsequently intervene – both of which may be constrained. Initially, Balanced Scorecard emerged as a performance management system, over a period of time it has come to be known as a strategy management system, with its ultimate aim being the achievement of long term financial performance. Balanced scorecard is seen as a strategic management system enabling business leaders to meet the challenge of strategy execution.

  Two of the ideas that underpin modern balanced scorecard designs concern facilitating the creation of such a control – through making it easier to select which data to observe, and ensuring that the choice of data is consistent with the ability of the observer to intervene.

Design of a balanced scorecard is about the identification of a small number of financial and non-financial measures and attaching targets to them, so that when they are reviewed it is possible to determine whether current performance 'meets expectations'. By alerting managers to areas where performance deviates from expectations, they can be encouraged to focus their attention on these areas, and hopefully as a result trigger improved performance within the part of the organization they lead.

The original thinking behind a balanced scorecard was for it to be focused on information relating to the implementation of a strategy, and over time there has been a blurring of the boundaries between conventional strategic planning and control activities and those required to design a balanced scorecard. This is illustrated well by the four steps required to design a balanced scorecard included in Kaplan & Norton's writing on the subject in the late 1990s:

1. Translating the vision into operational goals;
2. Communicating the vision and link it to individual performance;
3. Business planning; index setting
4. Feedback and learning, and adjusting the strategy accordingly