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Balanced Scorecard, The: Translating Strategy into Action (Hardcover)

by Robert S Kaplan (Author), David P Norton (Author) "IMAGINE ENTERING THE COCKPIT of a modern jet airplane and seeing only a single instrument there ..." (more)
4.3 out of 5 stars  See all reviews (19 customer reviews)
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Product Description

Product Description

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.




From the Author

How to use measurement systems to implement strategy.
We originally developed the Balanced Scorecard to improve performance measurement systems. The Balanced Scorecard retains financial measures, such as return-on-capital-employed and economic value added, and supplements these with new measures on value creation for customers, enhancement of internal processes, including innovation, to deliver desired value propositions to targeted customers, and the creation of capabilities in employees and systems. As companies developed and used their Balanced Scorecard, they soon made it the centerpiece of their management systems. Innovating companies today are using their Balanced Scorecards to (1) gain consensus and clarity about their strategic objectives, (2) communicate strategic objectives to business units, departments, teams, and individuals, (3) align strategic planning, resource allocation and budgeting processes, and, (4) obtain feedback and learn about the effectiveness of their strategic plan and its implementation. The book describes, in detail, the construction and use of the Balanced Scorecard as a strategic management system. Detailed case studies of how Chemical Bank, Mobil, and United Way of Southeastern New England are using their Balanced Scorecards can be obtained from Harvard Business School Publishing (1-800-988-0886).
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IMAGINE ENTERING THE COCKPIT of a modern jet airplane and seeing only a single instrument there. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

19 Reviews
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Average Customer Review
4.3 out of 5 stars (19 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

 
10 of 10 people found the following review helpful:
4.0 out of 5 stars The text that brought performance measurement to the fore, 4 Jun 2002
By A Customer
One of the classic texts of the 1990s, the Balanced Scorecard has brought the importance of performance measurement to a generation of managers. It's still a worthwhile read, although more recent models, like the Performance Prism by Neely, seem much broader in scope.
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9 of 9 people found the following review helpful:
4.0 out of 5 stars Key Insights For Executives, Change Agents and Consultants, 11 Jul 1999
By A Customer
A much needed overview of why companies (and organizations) need a strategy linked to performance measures in a way that communciates the strategy throughout the organization. As much as I liked "The Balanced Scorecard" it is not as complete in the area of operations implimentation as I need when working with clients. I've found an excellent reference for operations managers to be "Operational Performance Measurement: Increasing Total Productivity" by Will Kaydos. Executives get the Scorecard, operations managers need different insight to make it work for them.
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7 of 7 people found the following review helpful:
5.0 out of 5 stars Overcome Poor Communications and Bureaucracy for New Actions, 28 May 2004
By Professor Donald Mitchell "Jesus Makes Me a P... (Boston) - See all my reviews
(TOP 10 REVIEWER)      
The Balanced Scorecard looks at the important issues of alignment, coordination, and effective implementation. Most business thinkers like to start with the big picture, and end there. As a result, most ideas for going in a new direction are quickly diluted by misunderstanding, falling back on old habits, and lethargy. Since Peter Drucker first popularized the idea of business strategy, there have been vastly more strategies conceived than there have been strategies successfully implemented as a result. Much attention has been paid to devising better strategies in the last four decades, and little to implementing strategies. The big pay-off is in the implementation, and The Balanced Scorecard is one of handful of books that provide important and valuable guidance to explain what needs to be done to successfully execute strategy. You must have more measures, and different measures than the accounting system provides. You also need to link measures and compensation to the key tasks that each person must perform. This book is simply the Rosetta Stone of communicating and managing strategy. The Balanced Scorecard is the beginning of the practical period of maturity in the field of business strategy. Read this book today to enjoy much more prosperity! I also recommend that you read The Fifth Discipline, The Fifth Discipline Handbook, and The Dance of Change to understand more about the context in which you are trying to make positive change. These four books are excellent companions for each other.

The series of books about The Balanced Scorecard includes The Strategy-Focused Organization and Strategy Maps. You'll love all three!

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Most Recent Customer Reviews

5.0 out of 5 stars Packed with Knowledge!
First published in 1996, this management literature classic builds a bridge between traditional, short-term oriented management systems and a more balanced approach integrating... Read more
Published on 30 Jun 2005 by Rolf Dobelli

1.0 out of 5 stars A big disappointment
This book does not deliver on the expectations built by the initial Balanced Scorecard articles. It does very little to clarify and structure the concept and approach to building... Read more
Published on 1 Sep 1999

1.0 out of 5 stars These are simple business ideas dressed up
I read the initial Harvard Business Review article years ago and was excited about the concepts. Rushed out to buy the book when it was first available. Read more
Published on 24 April 1999

5.0 out of 5 stars ELIMINATE STRATEGY STALLS WITH THE BALANCED SCORECARD
Professor Kaplan has created a business atlas (better than a road map) to help executives understand how to use measurement to align strategy, planning and performance. Read more
Published on 15 April 1999

5.0 out of 5 stars Clean Up Your Implementation of New Directions
Having an idea is one thing. Getting that idea accomplished is another. THE BALANCED SCORECARD is wonderful for helping with the latter. Read more
Published on 14 April 1999

5.0 out of 5 stars Thought provoking method to achieving strategic alignment
You will come away with a very clear cut understanding of what corporate strategic alignment is all about and why you must have it to succeed. Read more
Published on 31 Mar 1999

5.0 out of 5 stars Highly effective approach to managing.
Kaplan has produced a classic work here, with a solid approach to using metrics in the long and short term management of an organization. Read more
Published on 27 Jan 1999

5.0 out of 5 stars The Best Way To Overcome Strategic Communications Stalls
Since Peter Drucker first popularized the idea of business strategy, there have been vastly more strategies conceived than there have been strategies successfully implemented... Read more
Published on 24 Jan 1999

4.0 out of 5 stars Buena en forma y en fondo
Me parecio sinceramente competitiva, pues muestra de manera tangible los beneficios y condiciones de gestión automatizada y controlada, del Balanced Scorecard. Read more
Published on 21 Jan 1999

5.0 out of 5 stars A classic book
This book presents a remedy for the common "affection" that occurs in all companies that want to establish a quality system: too many indicators. Read more
Published on 23 Oct 1998

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