Balanced Scorecards and Operational Dashboards with Microsoft Excel Paperback – 19 Dec 2008
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"This title is a guide to how an organization can create competitive advantage by successfully executing strategy and accelerating performance." ( Accountancy Ireland , October 2010)
From the Back Cover
Create Balanced Scorecards and operational dashboards that drive success Balanced Scorecards help organizations clarify their strategy, translate strategy into action, and successfully execute their strategy. Operational dashboards are critical for monitoring and managing high performance. This book is a guide for those who define and build these business performance tools: executive sponsors, operational managers, facilitators, and Excel developers. Based on years of experience, these step–by–step methods will help you develop Balanced Scorecards and operational dashboards that drive strategic execution and operational performance. Write a strategic Destination Statement that clarifies your vision Build a Strategy Map illustrating strategic objectives and the causal links that drive success Map operational processes to identify leverage points with the greatest impact Identify the "critical few" metrics that drive and measure success Gain buy–in with Tactical Action Plans and Implementation Plans Build impressive, dynamic Excel scorecards and dashboards using only spreadsheet functions Build powerful charts and analyses that aid business decision making Develop portable Balanced Scorecards that are secure and easy to maintain Companion Web site Download free Excel sample files at www.wiley.com/go/scorecardsanddashboardswithexcel. You can also find additional resources on Balanced Scorecards and operational dashboards at www.torconsulting.comSee all Product description
Top customer reviews
The book provides guidance towards developing your own Balanced Scorecards, helping you to work out what you need to report, before moving into the domain of handling data and creating charts and tables. I am excited by the discovery of the concept of operational dashboards, this has enabled me to develop some of the ideas that I had developed alone and not quite known how. I have instantly changed the way I use Excel to handle data, using methods and functions that are far more robust, and critically - easily scalable. The Micro-Chart function, a recommended Add-In, is excellent, well worth the cost and will transform the presentation of reports.
Overall, this book is highly recommended if you want to take your reporting to a higher level, critically if you want to produce `apparently' simple reports (ie. That look simple but present a lot of clear and useful information) to aid decision making.
Although this book is actually designed around Excel 2007 (and I'm on 2013), it is still bang up to date. Taught me a lot about strategy maps and working out what you want the operations to contribute to, linkages, and how to get the measures working. Then I found that it taught me a whole lot about MS Excel as well, with options such as permanent windows that I didn't even know existed, and ways to create dashboards without programming as well as to create with programming. Perhaps i should look out a current edition (bought this second hand)
Furthermore there are many useful links and ideas. Normally the downsides always exist but in this case I having trouble finding any. This will book will be an important part of my work with BSC.
The real gem for me is the structure of Operational Dashboards where Ron takes you by chapter through the range of functions (using MATCH & INDEX instead of VLOOKUP and arguing that VLOOKUP lacks the operational diversity of MATCH and INDEX). It's all in there as basics; Pivots and microcharts, custom labels, formatting, Lists and Tables, inter-active charts, forecasting, targets and alerts, drilling, add-ins, finishing touches, intergration and publishing.
The book sets out the groundwork. It's up to you to further your research and get the skills but it made me go further with Excel, which in itself is the most powerful program I've ever used and amazingly diverse. Will it get me that statistical or analytical job? That's up to me too and I'm pushing for it.
As a sideline, I registered with Ron's website and got a welcoming email asking why I bought the book? This made it feel very personal. It all feels very organised and I have not put the book away on the shelf since buying it.
If you want all the answers, it isn't in this book with such a huge spectrum of matter but it gives you the groundwork and it suggests where to find the expertise. Nice one. Top marks from me.
For me the most valuable part of the book is that before launching into how to design the BSC in using Excel, the author first of all sets the context as to why creating the BSC is important and the resources you need (genuine stakeholder/senior management commitment/mission statements/vision statements/organisational plans etc) as the bare minimum on which to start the process. From there, it's up to the reader to then make of it what they will.
The book has provided me with the not only the practical knowledge of how to use particular techniques, but also the theoretical underpinning in order to make whatever is included within our company's BSC meaningful and purposeful.
Now when I talk to stakeholders about our BSC, the conversations have more meaning about what objectives we are trying to acheive and who owns which part of the process, as well as the confidence to question the most senior stakeholders what exactly is it they want in order to make sure that the efforts made to get the data (which may involve new processes and take time to produce) worthwhile.
Further, the book is littered with words of wisdom and references to the creators of the BSC (Kaplan & Norton) and other management luminaries such as Peter Drucker.
All in all a very useful and interesting read and comes as highly recommended. MW.
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