The Balanced Scorecard translates a company's vision and strategy into a In the first part, Kaplan and Norton provide the theoretical foundations for the. Here is the book - by the recognized architects of the Balanced Scorecard - that Kaplan and Norton demonstrate how senior executives in industries such as. The Balanced Scorecard - Translating Strategy into Action ebook by Robert S. In the first part, Kaplan and Norton provide the theoretical foundations for the.
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Editorial Reviews. From Publishers Weekly. As running a corporate?or government or eBook features: . Kaplan, a Harvard Business School professor of accounting, and Norton, president of Renaissance Solutions, make a key contribution. Balanced Scorecard Success: The Kaplan-Norton Collection (4 Ebooks). Balanced Scorecard Success: The Kaplan-Norton Collection (4 Ebooks) from Robert S. Kaplan and David P. Norton, authors of "The Balanced Scorecard," a.
Kaplan and David P. Norton introduced the Balanced Scorecard, a revolutionary performance measurement system that allowed organizations to quantify intangible assets such as people, information, and customer relationships. Then, in The Strategy-Focused Organization, Kaplan and Norton showed how organizations achieved breakthrough performance with a management system that put the Balanced Scorecard into action. Now, using their ongoing research with hundreds of Balanced Scorecard adopters across the globe, the authors have created a powerful new tool--the "strategy map"--that enables companies to describe the links between intangible assets and value creation with a clarity and precision never before possible. Kaplan and Norton argue that the most critical aspect of strategy--implementing it in a way that ensures sustained value creation--depends on managing four key internal processes: operations, customer relationships, innovation, and regulatory and social processes.
However, new reports and articles on the topic appear frequently every working day since Neely, In in the USA alone one new book was launched every two weeks Neely , p. Internet searches on the topic reveal more than 81 million sites dedicated to Business Performance Management. In addition the software market for solutions and applications for measuring and managing corporate performance is constantly growing Marr and Neely, It becomes clear that Business Performance Measurement is a multimillion-dollar industry.
And in this confusion managers used, after a survey conducted in , 16 management tools, which is a 55 per cent leap compared to Rigby, They play a key role in developing strategic plans, evaluating the achievement of organisational objectives, and compensating managers Ittner, Larcker, The initial interest in intangible-assets 1 came from the quality movement and the trend of firms to measure and report employee morale, product quality, and customer satisfaction.
In response to the concerns numerous performance measurement frameworks and alternative methods of measurement, such as shareholder value analysis Rappaport, and activity-based costing Kaplan and Cooper, were proposed. The rise of the TQM movement drew the attention of managers to the importance of focussing on the customer and of providing quality products and services as a means of maintaining competitive advantage.
Recent estimates suggest that 60 per cent of the Fortune companies claim to have experimented with the BSC Silk, In spite of its wide usage, it has shown to be inadequate in various circumstances and across differing firm types Maltz at al.
Therefore, it is worth asking whether this is a valid model for obtaining the superior financial results assured. Moreover, the dissertation evaluates if the international popularity of the BSC is due to its substance as an innovative and practical theory or simply to its promotional rhetoric. This is done in this manner because the author concludes that most managers decide to use the BSC on the basis of the information they get.
In Part I the BSC framework will first be described with looking at its development over time since its primary introduction in This will build the basis for the following examination of the ideologies and principles proclaimed by the inventors.
Different questions set by the author then shed light on the doubtful value of the proclamations made by Kaplan and Norton, mainly its interpretation of customer value. The author explores and critically assesses the ways in which the BSC contributes to company performance.
Within Part III different recommendations concerning a successful implementation of the BSC will be proposed in order to successfully face the problematic issues. Methodology The main purpose of this dissertation is to analyse the current status of the BSC literature. Based on this, some recommendations will be given in the last part.
In order to achieve these goals, several steps of the research process have been gone through. Since my investigation has been different the approach is neither only deductive nor only inductive, rather a mix of both.
On the one hand I criticize the BSC model, but on the other hand I suggest recommendations for its better use.
Two choices are of particular significance for this dissertation. Traditionally, it is assumed in science that the researcher must maintain complete independence in order to give any validity to the outcome. However, the author will involve own ideas, based on the belief that the best way of learning about a topic field is through the attempt to change it, and it should therefore be to some extent the objective of the action researcher.
Primary data are collected through observations and secondary data are that have been collected and revised Lewis, The author has made use of both; however, mainly secondary data are applied.
To complete this objective, this dissertation is based on thorough research and analysis, mostly from books and articles about the BSC and other strategic theories such as Hoshin Kanri and Total Quality Management. The subjects discussed in this dissertation are relatively new in business resources and most of the data available are presented in journals and periodicals rather than texts.
It is worth mentioning that the university library played an important role in this research. By using existing material in secondary data which show the strategies that businesses need to survive in a competitive environment, it becomes possible to look at major issues like; the analysis of competitive environment and how corporate strategies are formulated with the intention of achieving competitive advantages.
This will help to, through the evaluation, further point out weaknesses or strengths of the BSC.
This is a hard core business book that is most appropriate for those who understand the nuances of Strategy making, Implementation, and Performance management. Because of that, I came to this book with prejudices, and the beginning was really hard--I postponed reading the book and found other things to do instead.
If I hadn't needed to do the research for class, I would have steered far away from anything to do with the BSC.
I initially suggested a variety of different topics in lieu of the BSC, trying to get out of having to read what I thought was a load of rubbis Some years ago I was exposed to a suboptimal implementation of the Balanced Scorecard.
I initially suggested a variety of different topics in lieu of the BSC, trying to get out of having to read what I thought was a load of rubbish, but my professor would have none of it.
I struggled with the book for two or three chapters. I was still in thrall to my biases, and the theoretical nature of the book had no appeal. The a-ha moment came when a class assignment involved a case study where a company had implemented the BSC but hadn't done a great job of it.
Although I was only one-third of the way through this book at the time, I immediately saw the most obvious problems with the BSC the case study was using. With a concrete problem in need of a solution before me, I was able to apply the concepts I learned in just the first few chapters of the book and analyse the case study successfully to come up with some good recommendations. In comparison, my classmates who hadn't read the book or even heard of it and had only read one article on the BSC were struggling with the concept.