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76 of 79 people found the following review helpful:
5.0 out of 5 stars
Introduction into the Balanced Scorecard, December 12, 2001
This review is from: The Balanced Scorecard: Measures That Drive Performance (HBR OnPoint Enhanced Edition) (Digital)
This 1992 Harvard Business Review article, by Harvard Business School professor Robert Kaplan and David Norton, president of Nolan, Norton & Co., was the introduction into the now world-famous Balanced Scorecard - there is now even a Balanced Scorecard website. This article was followed by several other HBR-articles and two books ('The Balanced Scorecard' and 'The Strategy-Focused Organization'). The main reason for the introduction of the balanced scorecard was that, in the authors' views, organizations only measured financial performance. There was too much emphasis on financial measures and not enough on operational performance. By complementing financial measures of past performance with the objectives and measures of financial, customer, internal business process, and learning and growth, managers are provided with a framework to translate a strategy into operational terms. The great thing about the balanced scorecard is that it minimizes information overload by limiting the number of measures. It forces managers to focus on the handful of measures that are most critical. This article made it finally possible for managers to express and measure operational performance. Great thing about the balanced scorecard is that it a simple visual tool. If you like this article, the logical step is to read their follow-up HBR-articles 'Putting the Scorecard to Work' (1993) and 'Using the Balanced Scorecard as a Strategic Management System' (1996) or their 1996-book 'The Balanced Scorecard: Turning Strategy into Action'. The article uses simple US-English.
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23 of 26 people found the following review helpful:
5.0 out of 5 stars
Introduction into the Balanced Scorecard, July 10, 2001
This 1992 Harvard Business Review article, by Harvard Business School professor Robert Kaplan and David Norton, president of Nolan, Norton & Co., was the introduction into the now world-famous Balanced Scorecard - there is now even a Balanced Scorecard website. This article was followed by several other HBR-articles and two books ('The Balanced Scorecard' and 'The Strategy-Focused Organization'). The main reason for the introduction of the balanced scorecard was that, in the authors' views, organizations only measured financial performance. There was too much emphasis on financial measures and not enough on operational performance. By complementing financial measures of past performance with the objectives and measures of financial, customer, internal business process, and learning and growth, managers are provided with a framework to translate a strategy into operational terms. The great thing about the balanced scorecard is that it minimizes information overload by limiting the number of measures. It forces managers to focus on the handful of measures that are most critical. This article made it finally possible for managers to express and measure operational performance. Great thing about the balanced scorecard is that it a simple visual tool. If you like this article, the logical step is to read their follow-up HBR-articles 'Putting the Scorecard to Work' (1993) and 'Using the Balanced Scorecard as a Strategic Management System' (1996) or their 1996-book 'The Balanced Scorecard: Turning Strategy into Action'. The article uses simple US-English.
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4 of 4 people found the following review helpful:
5.0 out of 5 stars
The Best Way to Overcome Strategic Communications Stalls, September 10, 2004
This review is from: The Balanced Scorecard: Measures That Drive Performance (HBR OnPoint Enhanced Edition) (Digital)
Since Peter Drucker first popularized the idea of business strategy, there have been vastly more strategies conceived than there have been strategies successfully implemented. Much attention has been paid to devising better strategies, and little to implementing strategies. The big pay-off is in the implementation, and THE BALANCED SCORECARD hits a home run in showing how to explain what needs to be done to successfully execute strategy. You must have more measures, and different measures than the accounting system provides. You also need to link measures to the key tasks that each person must perform. This book is simply the Rosetta Stone of communicating and managing strategy. THE BALANCED SCORECARD is the beginning of the practical period of maturity in the field of business strategy. Read this book today to enjoy much more prosperity!
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