By Paul R. Niven
''As a practitioner and notion chief, Paul Niven is fantastically bridging the gulf among BSC concept and alertness via hands-on stories and real-world case experiences. The publication presents a realistic highway map, step by step, to plot, execute, and maintain a successful scorecard crusade. effortless to learn . . . tells a strong tale with classes learned/best practices from worldwide buyer implementations. Must-read for an individual drawn to BSC or grappling with the right way to create a strategically aligned organization.''—Vik Torpunuri, President and CEO, e2e Analytix''In Balanced Scorecard step by step, moment variation, Paul Niven offers an intuitive and awfully potent blueprint for transitioning strategic ambition to execution. Paul's pragmatic method presents leaders with a device for dealing with a company's trip from strategic rules to world-class functionality. The Balanced Scorecard is a masterful device for directing businesses via transformation, and that i converse from own event whilst I say Paul's blueprint works! it's the most well known advisor i've got obvious. Balanced Scorecard step by step will serve any chief good if their ambition is to successfully interact their groups in attaining a collection of strategic goals.''—Allan A. MacDonald, vp, revenues and shopper suggestions Bell Canada nationwide Markets''Paul Niven has performed it again!!! With this e-book, he has extra operationalized the enlightened Balanced Scorecard suggestion right into a totally useful procedure that optimizes company execution and performance!''—Barton Johnson, President, monetary Freedom Senior investment company, The opposite loan professional
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Extra resources for Balanced Scorecard Step-by-Step: Maximizing Performance and Maintaining Results
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Qxd 07/06/06 12 02:02 PM Page 12 Performance Measurement and the Need for a Balanced Scorecard their time together moving beyond the analysis of defects to a deeper understanding of the underlying value-creating or destroying mechanisms in the f irm. THE BALANCED SCORECARD As the preceding discussion indicates, organizations face many hurdles in developing performance measurement systems that truly monitor the right things. What is required is a system that balances the historical accuracy of f inancial numbers with the drivers of future performance, while simultaneously harnessing the power of intangible assets and of course assisting organizations in implementing their differentiating strategies.
Used in this way, the Scorecard alleviates many of the issues of effective strategy implementation discussed earlier in the chapter. Let’s revisit those barriers and examine how the Balanced Scorecard may in fact remove them. Overcoming the Vision Barrier through the Translation of Strategy The Balanced Scorecard is ideally created through a shared understanding and translation of the organization’s strategy into objectives, measures, targets, and initiatives in each of the four Scorecard perspectives.
Portions of this section are drawn from Paul R. Niven, Balanced Scorecard Diagnostics: Maintaining Maximum Performance (Hoboken, NJ: John Wiley & Sons, 2005). 29. Robert McKee, “Storytelling that Moves People,” Harvard Business Review ( June 2003): 51– 55. qxd 07/06/06 02:03 PM Page 31 Chapter 2 Getting Started Roadmap for Chapter Two Victor Hugo once said, “He who every morning plans the transaction of the day and follows out that plan, carries a thread that will guide him through the maze of the most busy life.