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The Balanced Scorecard: Translating Strategy into Action
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Sales rank 8,670
Customers rating (based on 55 reviews)
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Here is the book--by the recognized architects of the Balanced Scorecard--that shows how managers can use this revolutionary tool to mobilize their people to fulfill the company's mission. More than just a measurement system, the Balanced Scorecard is a management system that can channel the energies, abilities, and specific knowledge held by people throughout the organization toward achieving long-term strategic goals. Kaplan and Norton demonstrate how senior executives in industries such as banking, oil, insurance, and retailing are using the Balanced Scorecard both to guide current performance and to target future performance. They show how to use measures in four categories-financial performance, customer knowledge, internal business processes, and learning and growth-to align individual, organizational, and cross-departmental initiatives and to identify entirely new processes for meeting customer and shareholder objectives. The authors also reveal how to use the Balanced Scorecard as a robust learning system for testing, gaining feedback on, and updating the organization's strategy. Finally, they walk through the steps that managers in any company can use to build their own Balanced Scorecard. The Balanced Scorecard provides the management system for companies to invest in the long term-in customers, in employees, in new product development, and in systems-rather than managing the bottom line to pump up short-term earnings. It will change the way you measure and manage your business.
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| Publisher | Harvard Business School Press | | Release date | 09/1996 | | Availability | Usually ships in 24 hours | | Edition | Hardcover |
| | List price | $39.95 | | Our price | $26.37 (you save 33.99%) | | Used price | from $4.44 |
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 Essential Recommendations for Modern Business
The Balanced Scorecard is the first, most important, and most influential of Kaplan and Norton's books on the implementation of strategic planning. It marks a significant step forward from Hammer and Champy's business process engineering, and it provides a much needed alternative to management's obsession with quarterly reports and short-term profit and loss.
Of course, profit is essential. But what is innovative (and solidly based in practical research) is BSC's focus on three determiners of long-term business success: customer satisfaction, staffing and employee development, and the effectiveness of internal processes and systems. Kaplan and Norton promote BSC as a management method that addresses the special problems of modern business--complexity and high rate of change--and leverages the power of Information Technology in its current state.
The Balanced Scorecard provided me--experienced in business but lacking the MBA--an integrative overview of business knowledge and skills: it told me where my experience fit in the scheme of things, and what I need still to learn. It fits nicely with my studies of enterprise architecture and SOA, and I am pleased to find how thoroughly it accords with Herbert Simon's essential study of organizations, Administrative Behavior.
Kaplan and Norton give us many and extended examples of the application of BSC in different kinds of organizations. What they don't tell us is what kinds (and sizes) of organizations BSC isn't appropriate for. This weakness may be remedied in later books.
Balanced Scorecard awesome book
This book is the bread and butter if you are into executing strategy.There is lots of good tips and detailed understanding.
Please visit http://www.balancedscorcard.wordpress.com for more information
A Good Read but One Size does Not Fit All
The world doesn't need another long review of this book or the Balanced Scorecard concept but a little added perspective might be of value. BSC is most useful to organizations that need to jump start (or begin) their strategic planning efforts. The book lays out a practical and useful guide to do just that but many companies end up allowing BSC to become all consuming and not a means to an end. For this and other reasons, the majority of organizations don't follow through. The process described in this book is easy to read and absorb and consequently has a loyal following of adherents -- some of whom claim substantive results in their companies as a result. With the caveat that one size does not fit all, I would recommend this book as a component of your readings on business strategy and execution.
Although Great, it is Better in Hindsight
Balanced scorecards have become ubiquitous in modern business parlance. But to really understand their power and elegance requires an understanding of strategy mapping as depicted in Norton and Kaplan's other books. Because those other books were written later than this one, the deeper power of the scorecards really emerges in the follow-up to strategy mapping. Nonetheless, this is a cornerstone of any strategist's library, depicting the methodology that has become rightfully synonymous with measuring strategy. The real beauty of this approach does not lie only in its extraordinary identification of the key perspectives that must be measured to accomplish (or determine a need to revisit) strategy. Instead, the malleability of the scorecard as a means to measure all of the aspects of stakeholder delivery is really indispensable when approaching the complexity of modern organizations. With the advent of triple bottom lines and the demand to measure not just the results but their alleged leading indicators, balanced scorecards have become the standard for how to do so. No strategist or business leader's library should be without this book. It is as vital as is "The Wealth of Nations" to an economist.
Amie Devero, Author of Powered by Principle: Using Core Values to Build World-Class Organizations
Excellent
This is a product that help me to alling the objetive of our organization to the lowest levels
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