Improving Corporate Governance with the Balanced Scorecard

UNICOM
London, Uxbridge, Middlesex, United Kingdom

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced

Course Description:

'' The corporate governance agenda is demanding more performance accountability and transparency within organizations. The spectacular failure of corporate governance over recent years has made this a priority, and has led to legislation such as Sarbanes-Oxley in the US.

The scandals of recent years has also turned the spotlight on corporate boards and it is now demanded that they do a much better job in corporate stewardship than they often have in previous years.

Background:
Consequently, there is a compelling need for boards of directors to show much better oversight of the organizations under their charge. They are being asked to confirm that processes are in place that ensure that accountabilities are well-defined within the corporation and that reporting systems and operational activities are as transparent as they need be for the board, and of course external stakeholders, such as shareholders and regulatory bodies, to make informed judgements about the organization’s performance.

As such, the Balanced Scorecard, for some time a favourite strategic management framework for executive management teams looking to inculcate performance accountability and transparency into their operating units, is now being seen a powerful framework for use by corporate boards. The Balanced Scorecard has proven successful as it manages and measures performance from financial and non-financial performance perspectives (the latter typically customer, internal process and learning and growth).

This workshop outlines the key high level steps in creating board-level Balanced Scorecards. It considers areas such as:

- How a Board-level Balanced Scorecard helps the board better despatch its duties around its three key areas of
1. Performance oversight
Approving strategic plans and monitoring performance.
Approving and monitoring funding for strategic initiatives.
Being an advocate for the organization.

2. Executive Enhancement
Evaluating and rewarding executive performance.
Overseeing succession planning for key positions.
Key foci for he compensation committee.

3. Compliance and Communication
Ensure disclosures are clear and reliable.
Actively monitor risk and regulatory compliance.
Key foci for the audit committee.

The workshop will delineate the process for building a board level Balanced Scorecard. It will describe how to identify appropriate strategic objectives, measures and targets and ensure they are monitored on an ongoing basis.

Importantly the workshop will show how the board level scorecard complements the corporate-level scorecard and how together they better clarify what are the responsibilities and expectations of the corporate board and the executive management team. This enabling more focused discussions at board meetings.

The workshop also explains the importance of building executive scorecards for the highest-level managers, to further ensure full performance accountability and transparency. This creates a full Board Scorecard Programme comprising Board Scorecard, Enterprise Level Scorecard and Executive Level Scorecard.

It also shows how the scorecard programme (the three scorecards at board, enterprise and executive levels) can substantially improve communication with shareholders and other key stakeholders, thus ensuring that externals bodies trust the corporation and have confidence in the information that comes of the company.

More than anything with board level, executive, corporate and lower-level business unit, functional and team level scorecards, organizations are offered the opportunity to have performance accountability and transparency at each level of the organization.

Target Audience:
The workshop will be of interest to:
Finance managers and internal auditors charged with ensuring correct controls are in place within the organization,
Performance management specialists wishing to ensure performance management disciplines are in place (typically managers with responsibility for the balanced scorecard or other such framework)
Consultants and others working to create more effective boards.
...''

Phone:+44 (0)1895 256484

School Address:

UNICOM R&D House
One Oxford Road
Uxbridge, Middlesex
UB9 4DA, UNITED KINGDOM

Tel: +44 (0)1895 256484
Fax: +44 (0)1895 810201
Email: info@unicom.co.uk

Jobs & Resumes: London, Uxbridge
Houses & Roommates: London, Uxbridge

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