Translating strategy into action kindle edition by kaplan, robert s. Kaplan s most popular book is the balanced scorecard. Several years ago, we introduced the concept of a balanced scorecard. David norton as a framework for measuring organizational performance using a more balanced set of performance measures. The scorecard measures organizational performance across four linked perspectives. What follows, provides guidance and advice on the development and implementation of a balanced scorecard for those organisations considering the introduction of a. Konsep dan dasar pemikiran tentang balanced scorecard yang dijelaskan kaplan dan norton sebenarnya merupakan sesuatu yang terbilang sederhana yang mana dalam upaya pengelolaan kinerja akan diperlukan suatu indikator pengukuran yang seimbang sehingga organisasi ataupun instansi bisa berjalan dengan lebih optimal. Balanced scorecard basics communicat business systems. The balanced scorecardmeasures that drive performance. Kaplan has 71 books on goodreads with 35665 ratings.
Visualise the presentation full screen, download a. With a balanced scorecard, you have the capability to. The balanced scorecard retains traditional financial measures. Using the balanced scorecard as a strategic management. A practitioners guide to the balanced scorecard cima. It is interesting to note that scorecard is actually a bit of a misnomer. The balanced scorecard focuses on factors that create longterm value traditional financial reports look backward reflect only the past. The balanced scorecardmeasures that drive performance robert s. Strategy maps and balanced scorecards constitute the measurement technology for managing in a knowledgebased economy. Traditionally companies used only shortterm financial performance as the measure of success. This download includes a balanced scorecard template contained in an ms excel spreadsheet developed on the basis of the robert s. Norton is a calltoaction book consisting of several quantitative performance measures. The balanced scorecard is designed to take a balanced look at all of the companys business factors and formulate performance measures accordingly.
Using the balanced scorecard as a strategic management system by robert s. Balanced scorecard is a strategy performance management tool a semistandard structured report, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions the phrase balanced scorecard primarily refers to a performance management report used by a management team, and typically. The balanced scorecard as a performance management tool. Putting the balanced scorecard to work by robert s. The balanced scorecard translates a companys vision and strategy into a coherent set of performance measures. The four perspectives of the scorecard financial measures, customer knowledge, internal business processes, and learning and growthoffer a balance between shortterm and longterm objectives, between outcomes desired and performance drivers of those outcomes, and. The creators of the strategy map and balanced scorecard concept, professors robert s. Norton s everal years ago, we introduced the concept of a balanced scorecard for motivating and measuring business unit performance.
Kaplan and norton 2001 the balanced scorecard by kaplan and norton pdf translating strategy into action. According to kaplan and norton, this distinction between a measurement and a. The balanced scorecard by kaplan and norton 1996 the norton intro. As such, it is able to provide visual means of how the goals of the organization are being met and the plan of action necessary to achieve these goals. The balanced scorecard bsc translates an organizations mission and strategy into a comprehensive set of performance measures that provides the framework for a strategic measurement and management system. Kaplan and nortons balanced scorecard is a concept still widely used and respected in todays business environment. Norton s concept of the balanced scorecard revolutionized conventional thinking about performance metrics. Linking the balanced scorecard to strategy robert s. Commentary transforming the balanced scorecard from. Kaplan started a working group to examine the challenge of reporting only on financial. I have excerpted below their five futures expansions. A practitioners guide to the balanced scorecard pdf 268kb. Measures that drive performance and a 1996 book, the balanced scorecard.
By translating their strategy into the logical architecture of a strategy map and balanced scorecard, organizations create a common understandable point of reference for all their units and employees. Boost your life and career with the best book summaries. Norton is founder and president of the balanced scorecard collaborative in lincoln, massachusetts. Kaplan and norton describe the innovation of the balanced scorecard as follows. Track the actions youre taking to improve upon your results. Livro 1997 kaplan e norton estrategia em acao balanced scorecard. It is a hangover from the early kaplan and norton days when the balanced scorecard was first introduced. Balanced scorecard stepbystep volta river authority. The balanced scorecard or balance score card is a strategic performance measurement model which is developed by robert kaplan and david norton. The balanced scorecard was developed in the early 1990s by two guys at the harvard business school. Pdf when is a balanced scorecard a balanced scorecard. Use features like bookmarks, note taking and highlighting while reading the balanced scorecard. The balanced scorecard professional certification program live online who should attend this program is recommended for those interested in building, implementing, and maintaining strategic performance management systems, and in.
They realize that no single measure can protives understand that their organizations measure vide a clear performance target or focus attention on. In addition, it can help provide information on the chosen strategy more. Commentary transforming the balanced scorecard from performance measurement to strategic management. The idea in brief the core idea the idea in practice putting the idea to work 1 article summary 2 using the balanced scorecard as a strategic management system. Kaplan is a professor at harvard university and david p. It is based on four balanced perspectives, and links them together with the concept of cause and effect. The steps involved in strategy mapping at the head of the strategy map is the overriding objective of the organisation which describes how it. Its objective is to translate an organizations mission and vision into actual operational actions strategic planning. Developed by robert kaplan and david norton, the balanced scorecard method translates an organisations strategy into performance objectives, measures. Livro 1997 kaplan e norton estrategia em acao balanced. Translating strategy into action, published in 1996.
David norton and i introduced the balanced scorecard in a 1992 harvard business. The key problem that kaplan and norton identified in the business of the day was that many companies tended to manage their businesses based solely on financial measures. The idea in brief the core idea the idea in practice putting the idea to work 1 article summary 2 putting the balanced scorecard to work a list of related materials, with annotations to guide further. Kaplan and nortons future vision of the balanced scorecard. Using kaplan and norton s balanced scorecard construct as a basis, the paper aims to develop and test a fivelevel taxonomy to classify firms performance measurement systems.
Translating strategy into action, that has been translated into 24 languages. Developed by robert kaplan and david norton, the balanced scorecard method translates an organisations strategy into performance objectives, measures, targets and initiatives. Norton, recently wrote an article, the future of the balanced scorecard. My experiences as a balanced scorecard practitioner with a large canadian company taught me that tremendous results are possible with the tool, but to attain. Transforming the balanced scorecard from performance measurement to. Strategy mapping was developed by kaplan and norton as an extension to the balanced scorecard and to make implementations of the scorecard more successful. Provides a clear picture proponents for the application of the balanced scorecard posit that this is a systematic and methodological tool. The aim of the balanced scorecard was to align business activities to the vision and strategy of the business, improve internal and external communications, and. Kaplan and norton found that companies are using the bsc to. Balanced scorecard basics balanced scorecard institute. When designed properly it can provide an excellent management tool to help keep businesses and organisations on track. Conceptual foundations of the balanced scorecard 3. Nortons concept of the balanced score card revolutionized conventional thinking about performance metrics.