Since the groundbreaking work of Robert S. Kaplan and David P. Norton, the concept of the Balanced Scorecard has achieved increasing popularity in the business world. Previously, many organizations had built their business objectives around financial targets and goals that bore little relation to a long-term strategic vision. Typically, this leaves a gap between the development of a company’s strategy and its implementation. The business scorecard, however, provides a more ‘balanced view’ by looking at not just financial concerns, but also customers, internal business processes, and learning and growth. But it is not just a system of performance measurement; by focusing on future potential success it can be used as a dynamic management system that reinforces, implements and drives corporate strategy forward. Following on from Performance Drivers this book focuses on the hands-on experiences of companies across a broad range of organizations at both operational and board level. The cases will be drawn from UK, European US and Japanese companies and will show that although the Balance Score Card has been widely adopted it is practised in different forms and with varying degrees of success. The desired strategic control system using scorecards that is presented focuses on creating and communicating a total comprehensive picture to all members of the organization from the top down It provides a long-term view of what the company’s strategic objectives really are, how to make use of knowledge gained through experience and the required flexibility of such a system to cope with the fast-changing business environment.. The book also shows that the BSC is not a management fad but an important tool for realising the “unseen wealth” of companies, which at times of economic uncertainty could be mobilized to provide new revenues at low accounting cost.
Book Details:
- Author: Nils-Gran Olve
- ISBN: 9780470668153
- Year Published: 2003
- Pages: 320
- BISAC: BUS019000, BUSINESS & ECONOMICS/Decision-Making & Problem Solving
About the Book and Topic:
Since the groundbreaking work of Robert S. Kaplan and David P. Norton, the concept of the Balanced Scorecard has achieved increasing popularity in the business world. Previously, many organizations had built their business objectives around financial targets and goals that bore little relation to a long-term strategic vision. Typically, this leaves a gap between the development of a company’s strategy and its implementation. The business scorecard, however, provides a more ‘balanced view’ by looking at not just financial concerns, but also customers, internal business processes, and learning and growth. But it is not just a system of performance measurement; by focusing on future potential success it can be used as a dynamic management system that reinforces, implements and drives corporate strategy forward. Following on from Performance Drivers this book focuses on the hands-on experiences of companies across a broad range of organizations at both operational and board level. The cases will be drawn from UK, European US and Japanese companies and will show that although the Balance Score Card has been widely adopted it is practised in different forms and with varying degrees of success. The desired strategic control system using scorecards that is presented focuses on creating and communicating a total comprehensive picture to all members of the organization from the top down It provides a long-term view of what the company’s strategic objectives really are, how to make use of knowledge gained through experience and the required flexibility of such a system to cope with the fast-changing business environment.. The book also shows that the BSC is not a management fad but an important tool for realising the “unseen wealth” of companies, which at times of economic uncertainty could be mobilized to provide new revenues at low accounting cost.
The treatment of the Balanced Scorecard in this book should not be seen in isolation, but will be of interest to any organization introducing new forms of control. Related areas of interest include performance measures, management control, business strategy, strategy development, strategic planning, strategy implementation, knowledge management, intellectual capital and quality management.
provides a long-term view of what the company’s strategic objectives really are, how to make use of knowledge gained through experience and the required flexibility of such a system to cope with the fast-changing business environment.
About the Author
Nils-Göran Olve is Adjunct Professor at Linköping University. He works extensively in management training and has co-authored two previous Wiley books: Performance Drivers – A Practical Guide to Using the Balanced Scorecard (1999) and Virtual Organizations and Beyond (1997). The former has been published in ten languages and has sold over 70,000 copies. As a senior partner in The Concours Group in Stockholm, his work concentrates on management control issues, in particular the Balanced Scorecard and management of IT. Carl-Johan Petri holds a PhD from Linköping University and is now a partner in The Concours Group in Stockholm. As a management consultant he has more than seven years’ experience of working with strategy and management control projects, especially implementing strategies using balanced scorecards. Dr Petri is also a frequently invited speaker at conferences and seminars on the issues of strategy, management control and knowledge management. Jan Roy is a senior partner in The Concours Group and head of its European consulting, based in Stockholm. He previously worked as CEO of several Swedish companies, especially in the retail industry. As a consultant, he mainly deals with strategic change processes. He also co-authored Performance Drivers – A Practical Guide to Using the Balanced Scorecard (Wiley, 1999). Sofie Roy is a PhD Student in the School of Business at Stockholm University. The main focus of her thesis is on knowledge and how the balanced scorecard has been used to manage knowledge and drive change. For her PhD she has conducted an in-depth study of Skandia’s work with their equivalent to the balanced scorecard, the Skandia Navigator.