Balanced Scorecard Case Study Bank

Balanced Scorecard Case Study Bank-17
The Bank of Ghana (Ghana’s central bank) released an international RFP for Consultancy Contract for the adoption of Balanced Scorecard Methodology in Strategic Planning and Management.

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It incorporated lessons learned and best practices into the development of a strategic management system.

Successful completion included an online certification examination.

Twenty three top executives of Strategy & Performance, Human Resources and I.

T Departments of Central Bank of Nigeria, in May 2011, successfully completed the Balanced Scorecard Professional Certification course offered by the Balanced Scorecard Institute and the George Washington University College of Professional Studies.

The Course was taught by Kayode Sufianu, Rosequeen Consulting CEO and Peter Ndaa, a Senior Associate of the company based in Nairobi, Kenya.

The course, an onsite program, was developed by the Balanced Scorecard Institute for members of the Bank’s strategy team, who wanted to learn how to build, deploy, and sustain scorecard systems.After discussion with executive management, we developed customized workshops to resolve the problems and facilitated series of the workshops to educate executive management, management and other leaders on the resolution approaches; about 100 staff members attended the different workshop series; assisted in fine-tuning the enterprise scorecard and Tier 2 scorecards for 27 Departments and deployed Tier 3 electronic cascading tool to facilitate development of individual objective scorecards by managers for their reports. Segun Oloketuyi had this to say “I have worked in different institutions that used BSC in the last 13 years but this course for the first time has given me a good understanding of this great performance measurement tool”.The executive leadership of Graphic Communications Group, Accra (leading newspaper publishing house in Ghana), desired the most effective means of executing strategy and decided after an initial training by BSWA to use the balanced scorecard.Undaunted, the management decided to take the bull by the horn to build internal capacity in BSC and bought and distributed copies of Kaplan and Norton’s Translating Strategy into Action, to members of executive leadership.Fortuitously, the Managing Director saw a BSWA training advertisement and decided to send one of the executives to attend to “explore” it.We commissioned a macroeconomic study of Ghana and facilitated the conduct of organizational assessment using PESTEL model, carried out customer needs analysis, developed Customer Value Proposition and Strategy Profile.We also facilitated the review and revalidation of the Bank’s Core Values, its Mission and Vision statements, developed the Strategic Themes and related Strategic Results which were consolidated to develop the Bank’s Enterprise Strategy Map.Then followed cascading of the enterprise scorecard to Departments and development of a communication plan.In view of extensive in-house BSC capacity built through BSWA’s all-involving approach and self-help efforts, the company was able to turn the strategic balanced scorecard into TIMS (TSL Integrated Management System), with which it has been able to effectively communicate the new strategy and secure much wider shared understanding of the strategy among the employees.We trained a total of 88 Directors and Managers of the Bank in Balanced Scorecard Certification and Balanced Scorecard Introduction programs.The trained staff constituted the core of the in-house cross-functional teams.

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