BALANCED SCORECARD KAPLAN PDF
David Norton and I introduced the Balanced Scorecard in a Harvard Business. Review article (Kaplan & Norton, ). The article was based on a. Using the Balanced. Scorecard as a Strategic. Management System by Robert S. Kaplan and David P. Norton. •. Included with this full-text Harvard Business. Editor's Note: In , Robert S. Kaplan and David P. Norton's concept of the balanced scorecard revolutionized conventional thinking about performance.
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In a previous paper (Kaplan and Norton b), we described the role for strategy maps and Balanced Scorecards to develop performance objectives and . his/her agency's or department's system a balanced scorecard assessment The model chosen was developed by Drs. David Norton and Robert Kaplan—the . S. Kaplan and D. P. Norton, “The Balanced Scorecard: Measures That Drive .. Adapted from material developed by Robert S. Kaplan and David P. Norton.
Balanced Scorecard Success: The Kaplan-Norton Collection (4 Ebooks)
The Balanced Scorecard perspectives are insisting on examining different strategies and choosing the most appropriate one. The strategy must be covered by a well-defined and clear long-term vision that would represent one common organizational goal. For a company to successfully select the much talked about strategic performance measures it must answer three vital questions: What is our target group of customers? How can we identify our value proposition in serving those customers?
Like this summary? Click To Tweet The Balanced Scorecard fills the void that exists in most management systems - the lack of a systematic process to implement and obtain feedback about strategy.
The Balanced Scorecard
Click To Tweet Historically, little attention has been devoted to developing performance measures for product design and development processes.
Click To Tweet Executives use the many elements of their management system to orchestrate their agendas. By building the management system around the scorecard framework, they can achieve the ultimate payoff - translating strategy into action.
Click To Tweet A good Balanced Scorecard should have a mix of outcome measures and performance drivers. Outcome measures without performance drivers do not communicate how the outcomes are to be achieved. Click To Tweet Our Critical Review This book is a beautiful read full of information on strategy execution, as well as a range of tools that can be used to measure the success of implementation.
In any case, it is a good book, which covers the basics that any business person should know. Strategy and entrepreneurship are often seen as polar opposites.
Strategy means rigorously defining and pursuing one clear path, while entrepreneurship If you were a military general on the march, you'd want your troops to have plenty of maps--detailed information about the mission they were on, the roads Measuring the value of intangible assets such as company culture, knowledge management systems, and employees' skills is the holy grail of accounting Decision making Magazine Article Christopher D.
Ittner David F.
Balanced Scorecard (Kaplan & Norton)
Tracking things like customer satisfaction and employee turnover can powerfully supplement traditional bookkeeping. Unfortunately, most companies botch the job.
Porter W. Chan Kim Renee Mauborgne. Is your company spending enormous time and energy on strategy development, with little to show for your efforts?
We've combed through hundreds of Harvard Spinal Cord Injury Ontario is a not-for-profit organization headquartered in Toronto that assists people with spinal cord injuries to achieve independence, Miller Andy Fleming Deborah Helsing. In most organizations nearly everyone is doing a second job no one is paying them for--namely, How to close the gap between strategy and execution.
Two-thirds of executives say their organizations don't have the capabilities to support their strategy Simons Antonio Davila. Citibank has introduced a new, comprehensive performance-scorecard system.
A regional president struggles with a tough decision: Drucker Clayton M. Christensen Michael E. Porter Daniel Goleman. If you read nothing else, read these 10 articles from HBR's most influential authors: Hatten William J.
Suite Cary, NC Contact Electronically. Monday , April , 15 , You are here: Balanced Scorecard Basics The balanced scorecard BSC is a strategic planning and management system that organizations use to:. BSCs are used extensively in business and industry, government, and nonprofit organizations worldwide. BSC has also been selected by the editors of Harvard Business Review as one of the most influential business ideas of the past 75 years. BSC Terminology: Perspectives The BSC suggests that we view the organization from four perspectives, and to develop objectives, measures KPIs , targets, and initiatives actions relative to each of these points of view: Strategic Objectives Strategic Objectives are the continuous improvement activities that we must do to implement strategy.
Strategy Mapping One of the most powerful elements in the BSC methodology is the use of strategy mapping to visualize and communicate how value is created by the organization.
Good KPIs: Provide an objective way to see if strategy is working Offer a comparison that gauges the degree of performance change over time Focus employees' attention on what matters most to success Allow measurement of accomplishments, not just of the work that is performed Provide a common language for communication Help reduce intangible uncertainty. Cascading Cascading a balanced scorecard means to translate the corporate-wide scorecard referred to as Tier 1 down to first business units, support units or departments Tier 2 and then teams or individuals Tier 3.
The end result should be focus across all levels of the organization that is consistent. The organization alignment should be clearly visible through strategy, using the strategy map, performance measures and targets, and initiatives.
Scorecards should be used to improve accountability through objective and performance measure ownership, and desired employee behaviors should be incentivized with recognition and rewards. Cascading strategy focuses the entire organization on strategy and creating line-of-sight between the work people do and high level desired results.Therefore, attempts to reduce inventory or cycle times in this business produce no benefit for which the customer is willing to pay.
Six of the companies both production and service organizations based its bonus system partly on balanced scorecard targets and three service organizations completely on them. Destination Statement is kind of a vision of a company in a certain point of time in future, when it has reached its strategic goals.
Terry Sterling This blog discusses the four critical traits for any leader to be successful, whether in industry or in life.
Balanced scorecard Magazine Article David P. Only two companies told that balanced scorecard had changed their budgeting process. The end result should be focus across all levels of the organization that is consistent.