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Future Success: A Balanced Approach to Measuring and Improving Success in Your Organization

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In this book, I present the Balanced Scorecard in a way that challenges traditional measurement views, and show that a balanced approach is the key to rapid and successful execution of strategy and, ultimately, business success.

My experience working with senior executives in leading Australian corporations to understand and document the key elements necessary for successful implementation of the Balanced Scorecard is translated in this book. Best practice examples from blue-chip Australian companies like BHP, Coco-Cola, Ericsson Australia, Hewlet-Packard, NRMA, Orica, Telstra, and Toyota, are featured in Future Success!.

Innovative Australian companies today are using the balanced scorecard to (1) gain consensus and clarity about their strategic objectives; (2) communicate strategic objectives to business units, departments, teams, and individuals, (3) align strategic planning, resource allocation and budgeting processes, and (4) obtain feedback and learn about the effectiveness of their strategic plan and its implementation.

In the first part, I explain why business performance measurement is often managed piecemeal, leading to suboptimal results. In the second part, I put forward the case for an integrated approach, bringing together the essential components of a robust strategic management system including communication, innovation, shared learning, and reward systems. I further describe how the balanced scorecard can be used to bring these elements into focus at all levels of the organisation. In the third part, I describe, in detail, how Australian companies can evaluate the effectiveness of their strategic management system and use the balanced scorecard to mobilise the organisation in support of the vision and shareholder and customer expectations. In the fourth part, I share my practical knowledge about the design, implementation, and use of the balanced scorecard as a strategic management system.