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In today’s competitive environment, strategic management is integral to the success of any organization. Therefore companies need to see exactly where they are going and what needs to be changed to achieve their long-term objectives. Therefore the demand Certified Balanced Scorecard Professional for is accelerating. These professionals monitor and understand not only the performance of the employees, but also how this performance relates to the overall growth of the organization.
Roles and Responsibilities of a Certified Balanced Scorecard Professional
The balanced scorecard is a strategy performance management tool, a semi-standard structured report, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions. Certified Balanced Scorecard Professional identifies the reasons for lack of performance within an organization and develops the four perspectives of a balanced scorecard. Also, they understand success factors for balanced scorecard implementation. Their responsibilities include:
- Firstly, formulate the main elements of the BSC management System such as vision, mission, objectives and initiatives
- Then, they should Design the BSC Management System main elements based on business
- They are also responsible for planning and deploying the implementation process
- Further, align work with strategy
- Also, , focus on the drivers of future performance
- Finally, improve communication of the organization’s vision and strategy
Vskills Certified Balanced Scorecard Professional Overview
Vskills Certification in Certified Balanced Scorecard Professional validates your skills and expertise as per the companies standards. It assess you in various areas like business strategy, difference between policy, strategy and tactic, strategic decision making, introduction to balanced scorecard (bsc), strategic analysis, strategizing balanced scorecard, developing balance scorecard and balance scorecard implementation. This certification is designed for professionals who want to improve their skill set and expand their knowledge.
Why become a Certified Balanced Scorecard Professional?
The demand for Certified Balanced Scorecard Professional is rising as companies have to align their organisational structure with the strategic objectives to survive in today’s scenario. Therefore earning this professional certification opens the door to increased visibility, better opportunities and new jobs in your industry. Also, a Vskills Certified Professional has earned following added benefits:
- The certifications will have a Government verification tag.
- The Certification is valid for life.
- Lifelong e-learning access.
- Access to Free Practice Tests.
- You will get tagged as ‘Vskills Certified’ On Monsterindia.com and ‘Vskills Certified’ On Shine.com.
Exam Details
- Exam Code: VS-1575
- Duration: 60 minutes
- No. of questions: 50
- Maximum marks: 50
- Passing marks: 25 (50%).
- There is NO negative marking
- This is an Online exam
Exam Process
Course Outline: Certified Balanced Scorecard Professional
The topics covered in this exam are:
Understanding Business
- Business Definition
- Dimensions of Business
- The Product / Service Concept
Introduction to Business Strategy
- Definition of Strategy
- Origins of Strategy Management
- Is Strategy static in nature or dynamic?
Difference Between Policy, Strategy And Tactic
- Strategy
- Features of Strategy
- Strategy and Tactics
- Distinction between Strategy and Tactics
- Organizational Mission and Objectives
- Implementation of Strategy
- Policy
- Policy and Strategy: A Comparison
Strategic Decision Making
- What is Decision Making
- Decision Making Process
- Decision Making Strategies
- What is Strategic Decision Making
- Strategic Decision Making Models
Introduction to Balanced Scorecard (BSC)
- What and Why of Performance
- Performance Management
- What is Balance Scorecard or BSc
- Balance Scorecard Application
- Balance Scorecard Evolution
- Balance Scorecard Perspectives
- Balance Scorecard Components
Strategic Analysis
- What is Strategy
- Strategic Management Processes
- Environmental Analysis
- Pestle Analysis
- SWOT Analysis
- Value Chain Analysis
- Competitor Analysis
Strategizing Balanced Scorecard
- Strategic Vision Development
- Strategic Value Development
- Strategy Map
- Financial Perspective
- Customer Perspective
- Internal Perspective
- Learning and Growth
- Making Organization Ready
Developing Balance Scorecard
- Introduction to Strategy Implementation
- Building Metrics
- KPI
- Lead and Lag Indicators
- Understanding Initiatives
- Process Mapping
Balance Scorecard Implementation
- Implementation Models
- Case Study
- What is Balance Scorecard Cascading?
- Key Success Factors
Preparatory Guide: Certified Balanced Scorecard Professional
‘Before anything else, right preparation is the key to success’. Preparing for an exam is quite a difficult task. It becomes easier when you follow a preparatory guide. Here we provide you with our guide to smoothen your journey for this exam. It will walk you through all the learning resources that will help you achieve this certification:
Familiarise yourself with the Exam Objectives
Firstly, you must familiarise with the exam objectives. This is a smarter move as it will keep you up to date with the exam topics. Devote enough time to each topic and have in depth knowledge of the subject. It will help you prepare for the exam by identifying specific content within each topic that may be tested. Moreover, this will also result in strengthening your preparation. The objectives of this exam are:
- Understanding Business
- Introduction to Business Strategy
- Difference Between Policy, Strategy And Tactic
- Strategic Decision Making
- Introduction to Balanced Scorecard (BSC)
- Strategic Analysis
- Strategizing Balanced Scorecard
- Developing Balance Scorecard
- Balance Scorecard Implementation
Learning Resources to supplement your preparations
Choosing the right resources will reliable content is very important. Vskills offers you its E-Learning Study Material to provide you with a stronger base that will help you qualify the exam. This online learning material is available for lifetime and is updated regularly. Moreover, these e-learning resources also come with hard copy study material that supplement your learning and exam preparation.
Books your go-to resources
Books are always the go to resource while preparing for any exam. They provide in-depth information about the exam topics. Also, you can relate the real life examples with business scenarios to gain better understanding of the exam concepts. In addition, books are also useful for cross-referencing and verifying the authenticity of the information from other learning resources. We suggest you to include the following books in your preparation journey:
- Balanced Scorecard by Anna Sjostrand, Nils-Goran Olve
- Implementing the Project Management Balanced Scorecard by Keyes
- Balanced Scorecard by Niven Paul R.
- A Handbook on Strategy Through Balanced Scorecard by Institute Of Directors India
- Balanced Scorecard by Kundelov Stefan
Self-Evaluate with Practice Tests
Mistakes are inevitable, but surely, they can be limited. When it comes to exams, practice papers help a lot in limiting the mistakes. Moreover, training the brain is very essential. Practice papers give that simulation in which the brain needs to get used to the actual exam. Going through practice tests helps you find your strengths and iron out your weaknesses. They make you understand the areas you’re lacking behind and work upon them. Most importantly, make sure that you are going through practice tests once you have gone through the whole syllabus. Moreover, attempting multiple practice tests will boost your confidence. Try outperforming yourself with each subsequent test. Get Ready to Self Evaluate your preparations with Practice Tests!
