PERFORMANCE MANAGEMENT USING THE BALANCED SCORECARD IN THE NEW NORMAL
by Dr. Enrico C. Mina
September 8, 2020
9:00am – 12:00nn
Regular Rate Php 1,499.00 + VAT starting September 2, 2020
Early Bird Rate Php 1,399.00 + VAT until September 1, 2020
Group Rate Php 1,299.00 + VAT per pax for 5 or more pax
Inclusive of the Webinar Session, the Presentation Materials of the Speaker
and the Digital Certificate
Translating the organizational strategies crafted by the senior-level management into consistently supportive short-term and medium-term performance targets and standards at each level and organizational unit is easier said than done. But this is essential to ensure that strategies are successfully implemented and the desired results obtained. It is also an objective means of evaluating the performance of accountable managers and other personnel.
Traditionally, only financial indicators (sales, gross profit margin, liquidity, return on funds employed, etc.) were used as measures of performance against targets. But using historical financial results is like driving by looking only at the rear-view mirror. The financial figures tell us what happened, but not what is likely to happen in the future.
A better methodology known as the Balanced Scorecard sets targets and tracks results using four interrelated perspectives:
· Internal business process
· Learning and growth
This course introduces the methodology of the Balanced Scorecard so that the participants can move forward to implementing it in their organization.
At the end of this course, the participants will be able to:
1. Learn the principles and concepts behind the Balanced Scorecard
2. Explain its advantages and benefits in performance measurement
3. Apply it on their organization using live data
4. Create a plan for its introduction into their organization
The course is designed for senior and middle-level managers. It is highly recommended to have the CEO and his/her direct subordinates as participants.
I. The origin of the Balanced Scorecard
II. Two fundamental issues addressed
A. The problem of effective organizational performance management
B. The critical issue of successful strategy implementation
III. Financial measurement and its limitations
A. Not consistent with today’s business realities
B. Driving by rearview mirror
C. Tends to reinforce functional silos
D. Sacrifices long-term thinking
E. Financial measures are not relevant to many levels of the organization
IV. The implementation of strategy
A. While the development of strategy is not a simple task, the successful implementation of those strategies has been more daunting
B. The Vision Barrier
C. People Barrier
D. The Management Barrier
E. The Resource Barrier
V. The Balanced Scorecard
B. Key stakeholders
C. Balance between financial and non-financial indicators of success
D. Balance between internal and external stakeholders
E. Balance between lag and lead indicators of performance
F. Four perspectives
3. Internal business process
4. Learning and growth
G. Interdependence due to the common vision and strategy
H. Objectives, measures, targets, and initiatives
VI. Uses of the Balanced Scorecard
A. As a Measurement System for Performance
B. As a Strategic Management System
C. As a Communications Tool
VII. Key success factors
A. Top management leadership and support
B. A support organization
D. Employee involvement and participation
E. Training and education
F. Plans, programs, and projects
G. Regular performance reviews
H. Reward and recognition
I. Process management
VIII. Top implementation issues
A. Leadership issues
B. Cultural issues
C. System issues
D. Need for consulting help
Schedule and Venue
The course is held online via Zoom over 3 hours.
The course facilitator is Dr. Enrico C. Mina, currently an Associate Professor at the Ateneo Graduate School of Business at Rockwell Center Makati teaching Economics and Management courses in MBA programs. Dr. Mina has extensive corporate experience as a manager, trainer, and consultant, aside from having advanced academic qualifications.
RESOURCE SPEAKER – Dr. Enrico C. Mina
- Dr. Enrico C. Mina is an Associate Professor of the Ateneo de Manila University Graduate School of Business, who teaches various economics and business management courses. He has had 27 years of teaching experience, the bulk of which was at the post-graduate level at the AGSB. Dr. Mina returned three years ago from a three-year teaching engagement as Senior Lecturer at the Department of Business Studies of the Papua New Guinea University of Technology at Lae City, Morobe Province, Papua New Guinea. While there, he taught courses in basic economics and management and acted as the Director of the Executive MBA Program, which he helped conceptualize and design and in which he taught six courses.
- Dr. Mina also has extensive experience in the business world as manager, consultant, and trainer, particularly in the areas of Total Quality Management and kaizen (continuous improvement), operations and supply chain management, and strategic management.
- Dr. Mina is a faculty member as well at the Ateneo School of Government, teaching Applied Economics in the Public Sector. At the same time, he teaches MBA courses at the Ateneo School of Medicine and Public Health, whose curriculum seamlessly integrates medical science and management.
- He has written and published several research papers and original cases. While at PNG University of Technology, he wrote a textbook entitled Introduction to Economics for use by the university’s Department of Open and Distance Learning’s Adult Matriculation Program. He has also been the adviser of the Governance Innovation Report (equivalent to a masteral thesis) of 24 students at the Ateneo School of Government.
- Dr. Mina obtained his Doctor of Business Administration (DBA) degree from De La Salle University-Manila in 2011, his MBA from the Ateneo Graduate School of Business in 1979, and two undergraduate degrees (AB major in Economics and BSBA major in Management, Summa cum Laude) from De La Salle University-Manila in 1973.
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