Balanced scorecard in 19923 and 19934 and their book in 19961. Translating strategy into action kindle edition by kaplan, robert s. Kaplan has 71 books on goodreads with 35509 ratings. According to those who support the balanced scorecard, the financial approach is unbalanced and has major limitations. A sequel to kaplan and norton henry waruhiu eastern and southern africa management institute,p. Kaplan accounting, harvard and norton, president of renaissance solutions inc. 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. Aug 27, 2017 the balanced scorecard summary robert s. Mastering strategy execution master class with drs. Kaplannorton balanced scorecard certification boot camp. Norton, authors of the balanced scorecard, a revolutionary performance measurement system that allows organizations to quantify intangible assets such as people, information, and customer relationships. David norton created the balanced scorecard approach in the early 1990s. Kaplan is a professor at harvard university and david p. Balanced scorecard kaplan norton definition marketing.
Most traditional management systems focus on the financial performance of an organization. Robert kaplan and david nortons balanced scorecard bsc definition of balanced scorecard b alanced scorecard is not a simple measuring tool. When kaplan and norton first introduced the concept, in 1992, companies were busy transforming themselves to. The kaplannorton collection 4 books kindle edition by robert s. Origins of the balanced scorecard the following extract. Use features like bookmarks, note taking and highlighting while reading the balanced scorecard. The kaplannorton collection 4 books kindle edition by kaplan, robert s. Robert kaplan and david norton s balanced scorecard the four perspectives of bsc i n its original version, the balanced scorecard sets out the principles of performance management by balancing four components or perspectives. The balanced scorecard translates a companys vision and strategy into a coherent set of performance measures. Norton is a calltoaction book consisting of several quantitative performance measures. Kaplan and norton found that companies are using the bsc to. May 03, 2014 the balanced scorecard or balance score card is a strategic performance measurement model which is developed by robert kaplan and david norton. The development of the balanced scorecard as a strategic.
The balanced scorecard requires specific measures of what customers getin terms of time, quality, performance and service, and cost. Financial data typically reflect an organizations past. Integrating the balanced scorecard and promethee methods for seaports performance evaluation. Save up to 80% by choosing the etextbook option for isbn. Nortons concept of the balanced scorecard revolutionized conventional thinking about performance metrics. This collection highlights the most important ideas and concepts from robert s. Balanced scorecard collaborative is a new kind of professional services.
Kaplannorton official balanced scorecard certification boot camp to be held at hotel jw marriott, juhu, mumbai, india, october 8 to 12, 2012 dr robert kaplan dr david norton in association with register today for your opportunity to become kaplannorton balanced scorecard certified the gold standard in balanced scorecard certification. The four perspectives of the scorecardfinancial 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. Use features like bookmarks, note taking and highlighting while reading balanced scorecard success. How balanced scorecard companies thrive in the new business environment rs kaplan, dp norton harvard business school press, 2000. Norton proposed that the number of measures on a balanced scorecard should also be constrained in number, and clustered into four groups kaplan and norton, 1992, 1993.
Commentary transforming the balanced scorecard from performance measurement to strategic management. I have excerpted below their five futures expansions. Translating strategy into action kindle edition by kaplan. Norton, recently wrote an article, the future of the balanced scorecard. What follows, provides guidance and advice on the development and implementation of a balanced scorecard for those organisations considering the introduction of a. The balanced scorecard revolutionized conventional thinking about performance metrics. The four perspectives of the scorecardfinancial 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. Translating strategy into action ebook written by robert s. The four perspectives of the scorecardfinancial 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 between hard. Palladium strategy management training is built on the foundations of our thought leadership dr kaplan and dr norton and the management frameworks developed by them balanced scorecard, strategy maps and the xpp. Kaplan, a harvard business school professor of accounting, and norton. The balanced scorecardmeasures that drive performance.
It ensures that senior management takes a balanced view about the organisations performance. We partner with organizations to execute strategy, transfer knowledge, and build capabilities to deliver results fast. Air force security assistance center foreign military sales center institutionalizes how it develops and executes international agreements by. Balanced scorecard kaplan norton it is thus a performance measurement metric applied in business, industries, government, non government, profit and not for profit organizations to align organizational performance against strategic goals. The balanced scorecard measures that drive performance. In this book, the authors apply their revolutionary balanced scorecard management system to corporatelevel strategy, revealing how highly successful enterprises achieve powerful synergies by explicitly defining corporate headquarters role in setting, coordinating, and overseeing organizational strategy. Norton is founder and president of the balanced scorecard collaborative in lincoln, massachusetts. Download for offline reading, highlight, bookmark or take notes while you read the balanced scorecard. It is, according to authors robert kaplan and david norton, a management system that ensures clarification and formalization of the strategy.
The aim of the balanced scorecard was to align business activities to the vision and strategy of the business, improve. The balanced scorecardmeasures that drive performance robert s. Norton born 1941 is an american business theorist, business executive and management consultant, known as cocreator, together with robert s. Kaplan and nortons future vision of the balanced scorecard. The four perspectives of balanced scorecard dashboard. Using the balanced scorecard as a strategic management. The bsc identifies the causeandeffect relations between. The creators of the strategy map and balanced scorecard concept, professors robert s. Its objective is to translate an organizations mission and vision into actual operational actions strategic planning. Use features like bookmarks, note taking and highlighting while reading the. Bernard morard, alexandru stancu, senior member, iedrc, and christophe jeannette. Bsc as kaplan and norton conceived of it was focused on measurement, specifically measuring variables that had some linkage to corporate financial results so that the direction of the organization could be determined prior to the occurrence of a bad quarter or two. In addition, it can help provide information on the chosen strategy more. The balanced scorecard or balance score card is a strategic performance measurement model which is developed by robert kaplan and david norton.
Subsequently it has become very popular with forprofit origins of the balanced scorecard the following extract from kaplan and nortons seminal book on the subject1 explain the authors involvement in the early development of the balanced scorecard. Translating strategy into action, published in 1996, kaplan and norton defined a scorecard model, whereby in addition to financial measures, organizational performance should include measures from a customer perspective, an internal business process perspective, and a perspective measuring employee. Robert kaplan and david nortons balanced scorecard bsc. 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 between hard.
Robert kaplan and david nortons balanced scorecard the four perspectives of bsc i n its original version, the balanced scorecard sets out the principles of performance management by balancing four components or perspectives. Commentary transforming the balanced scorecard from. Also included are strategy maps, which enables companies to describe the links between. Kaplans most popular book is the balanced scorecard. Financial, customer, internal process, learning and growth. Kaplan and norton are the visionaries behind the balanced scorecard bsc, and this is their first book on the subject.
911 1496 995 903 1578 501 1384 700 327 972 454 235 46 704 1263 813 1656 1509 1620 479 794 1135 612 724 568 1676 1182 1030 527 390 1123 784 1005 768 83 135 1656 811 113 188 1168 155 1385 850 880 707 757 350