The Balanced Scorecard: Translating Strategy Into Action

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Harvard Business Press, 1996 - Business & Economics - 322 pages
20 Reviews
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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The balanced scorecard: translating strategy into action

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Kaplan (accounting, Harvard) and Norton, president of Renaissance Solutions Inc., created the "balanced scorecard" to assist businesses in moving from ideas to action, achieving long-term goals, and ... Read full review

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page 25

Selected pages

Contents

Measurement and Management in the Information Age
1
Why Does Business Need a Balanced Scorecard?
21
MEASURING BUSINESS STRATEGY
43
Financial Perspective
47
Customer Perspective
63
InternalBusinessProcess Perspective
92
Learning and Growth Perspective
126
Linking Balanced Scorecard Measures to Your Strategy
147
MANAGING BUSINESS STRATEGY
191
Achieving Strategic Alignment From Top to Bottom
199
Targets Resource Allocation Initiatives and Budgets
224
Feedback and the Strategic Learning Process
250
Implementing a Balanced Scorecard Management Program
272
Building a Balanced Scorecard
294
Index
313
About the Authors
323

Structure and Strategy
167

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About the author (1996)

Robert Steven Kaplan is Senior Associate Dean and the Martin Marshall Professor of Management Practice in Business Administration at Harvard Business School. He is also cochairman of the Draper Richards Kaplan Foundation, a global venture philanthropy firm, as well as chairman and a founding partner of Indaba Capital Management, LLC. Before joining Harvard in 2005, Kaplan was vice chairman of the Goldman Sachs Group.

Norton is president of Renissance Solutions, Inc., and international consulting firm specializing i n performance measurement and organization renewal.

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