The Balanced Scorecard: Translating Strategy into Action
by Robert S. Kaplan (Author), David P. Norton (Author)
Business Bibliotheek
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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 show more 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"-- show lessTags
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Member Reviews
Very specifically presents The Balanced Scorecard--which is basically a system to break down strategy into 4 main areas => which can then be translated into objectives and measures. Some similarities with OKRs, but the context is different as this provides a comprehensive coverage of strategy vs OKR is more listing down the top priorities to keep everyone focused. You will learn:
• What is the Balanced Scorecard (BSC), and how it addresses all strategic aspects of a business from 4 perspectives: Financials, Customers, Internal Business Processes, and Learning & Growth.
• How to create your BSC, apply it in 4 steps, and use it to address common problems and challenges in strategy implementation and management.
• How to differentiate show more between lag measures (that reflect the outcomes of past efforts/initiatives) and lead measures (that drive or predict future successes), and break down long-term strategic objectives into a lag/lead measures and targeted initiatives.
Book summary at: https://readingraphics.com/book-summary-the-balanced-scorecard/ show less
• What is the Balanced Scorecard (BSC), and how it addresses all strategic aspects of a business from 4 perspectives: Financials, Customers, Internal Business Processes, and Learning & Growth.
• How to create your BSC, apply it in 4 steps, and use it to address common problems and challenges in strategy implementation and management.
• How to differentiate show more between lag measures (that reflect the outcomes of past efforts/initiatives) and lead measures (that drive or predict future successes), and break down long-term strategic objectives into a lag/lead measures and targeted initiatives.
Book summary at: https://readingraphics.com/book-summary-the-balanced-scorecard/ show less
The concept is interesting... but the more I am involved in BSC related initiatives - I appreciate that implementation is many steps away from this 'concept'. Which explains why there are many books written about implementation only.
Read it. And keep re-reading it.
A must-have book on learning the balanced scorecard management approach and how to implement at your work or for your personal goals.
http://smartlemming.com/2009/05/flatten-your-learning-curve-read-the-classic-bus...
http://smartlemming.com/2009/05/flatten-your-learning-curve-read-the-classic-bus...
I included this book in my book: The 100 Best Business Books of All Time. www.100bestbiz.com.
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Author Information
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Series
Common Knowledge
- Original title
- The Balanced Scorecard: Translating Strategy into Action
- Original publication date
- 1996
- First words
- Imagine entering the cockpit of a modern jet airplane and seeing only a single instrument there.
- Last words
- (Click to show. Warning: May contain spoilers.)By building the management system around the scorecard framework, they can achieve the ultimate payoff - translating strategy into action.
- Blurbers
- Hammer, Michael; Quinn, Richard T.; McCool, R. J.; Argyris, Chris; Isom, Gerald A.
Classifications
- Genres
- Business, Nonfiction, General Nonfiction
- DDC/MDS
- 658.4012 — Applied science & technology Management & public relations General management Executive Planning, control, strategy Strategy
- LCC
- HD56 .K35 — Social sciences Industries. Land use. Labor Industries. Land use. Labor Industrial productivity
- BISAC
Statistics
- Members
- 694
- Popularity
- 41,131
- Reviews
- 5
- Rating
- (3.63)
- Languages
- 11 — Czech, Danish, Dutch, English, German, Indonesian, Italian, Portuguese, Spanish, Swedish, Turkish
- Media
- Paper, Ebook
- ISBNs
- 23
- ASINs
- 2
