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Statistics claim that only 28% of organizations are happy with their performance management. Managing performance is the leader's responsibility to help build up value and achieve organizations goals.

What gets measured, gets done is a no-brainer. However, in business practice the question is what to measure and how. In the era of big data it is more likely to drown in data without having the right KPI.

First, a set of specific strategic goals is the baseline for deriving KPI. A strategy map specifies the strategic direction of a company and facilitates operational and strategic feedback and learning.

A next step is to look at financial KPI. At a first glance it appears easy as profit is sales minus costs. Yet, we know that cash is a fact, profit is an opinion. Therefore, we will elaborate when to use which profit or cash figures.

No profit without customers – hence, we will take a closer look how to manage customer relationships for both: customer and company value. Aspects of measuring and managing customer profitability, customer lifetime value and customer loyalty are the focus of the next section.

Ideally, customer value and company profitability is to be considered when designing new products and services, not after having launched them. Target costing is a method bringing together different perspectives (marketing and sales, finance, operations) in the design phase.

The 2 days seminar will focus on:
  • Strategy maps – the baseline for KPI (KPI follow strategy, not vice versa)
  • Managing and measuring performance with the right KPI – dos and don’ts
  • Financial KPI – understanding when to use which profit and cash figures
  • Performance measurement and management of customer relationships:
    - Customer profitability analysis
    - Customer lifetime value
    - Customer loyalty - the Net Promoter Score ­(NPS)
  • Target Costing – product and service design for customer value and profitability 

The Value: At completion of the course, participants should be able to:

  • Describe how a strategy map with strategic goals across the perspectives financial, customer, process, learning and development specifies a company’s overall strategic direction.
  • Design the KPI for implementing strategic goals by measuring the latter
  • Explain financial KPI for evaluating profitability and liquidity/financial stability and when to use which ones.
  • Design a set of KPI and avoid typical pitfalls of performance measurement systems
  • Explain how to measure customers relationships, especially aspects of customer profitability, customer lifetime value and customer
  • Describe how the objectives and methods of management accounting differ from those of financial accounting and reporting.
  • Design an effective management accounting control system for an organization based on its  organisational characteristics and business environment.
  • Explain typical weaknesses of the budgeting process and ways to deal with them.
  • Identify and estimate costs that are relevant for management decisions; choose suitable costing systems to assess the profitability of products, customers, markets.
  • Describe how target costing and balance scorecards can help a company implement its strategy; create a ‘strategy map’ for a company.
  • Competently direct the work of accounting and control functions and effectively use available information to monitor performance and make value-increasing decisions.


We have designed an experience-based seminar for top and senior level managers. As a result this seminar relies on methods specifically chosen for this group including business cases, real company examples, interactive lecture, group work, discussion with peers and faculty.



28-29 September, 2017

 Venue:   BMI Executive Hall, Konstitucijos ave. 7,Vilnius
 Language:   English
 Participation fee:   1600 Euros
 Early bird fee: (if paid by September 7, 2017)   1200 Euros

 There is special BMI Alumni tuition fee:

  1500 Euros

 BMI Alumni early bird fee: (if paid by September 7, 2017)

  1100 Euros
 The number of participants:   Limited
 Registration at:
 Contact person:   Anžela Semaško:, +370 5 2487246




  • Professor of Performance Measurement and Management Control at Frankfurt University of Applied Sciences, and visiting professor at BMI
  • Formerly he had professorships at the THM Business School and the IUBH – International University of Applied Sciences Bad Honnef · Bonn
  • Was visiting scholar at the University College Dublin.
  • Has extensive experience in executive education and consulting for companies in different industries such as automotive (BMW), aviation (Lufthansa, Fraport, MTU Aero Engines), hotel (Rocco Forte Hotels, Kempinski), health care (Bayer, Grünenthal), IT (Bechtle), logistics (Deutsche Bahn, DHL), luxury goods (Bally Shoes), utility (EnBW, RWE)


Nerijus BAKŠYS
Head of Baltic Sales Rep. Office, LAUFEN CZ s.r.o.

“I’d say Joachim Sandt is a perfect executive educator – he has strong real-life expertise and experience, and as a professor he’s always well-prepared, convincing, up-to-date and relevant. Great summaries at the end of lectures reinforce the key managerial insights with concrete takeaways. And he does it all with a healthy sense of humour. Before the course I was sceptical about management accounting, but thanks to Professor Sandt it was a valuable discovery for me.”


CEO, Danpower Baltic

“Prof. Sandt’s lectures are extremely well structured and organized, as is all the information he presents. The contents are useful and highly applicable in day-to-day work for effectively managing performance and helping your organization create more value. It’s obvious that he’s a real expert in his field.”