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Back to What We Do
 Balanced Scorecard
What
is the Balanced Scorecard
The
Balanced Scorecard is a concept introduced and developed by David
Norton and Robert Kaplan. It recognizes that for long term survival and
success a business needs to concentrate on perspectives outside the
boundaries of the financial area alone. The Balanced Scorecard looks at
four perspectives - Finance, Internal Processes, Customers, and Leaning /
Growth - and their interrelationships.
The
concepts of the Balanced Scorecard can be examined in Kaplan and Norton's
books on the subject:
The
Balanced Scorecard -Translating Strategy into Action - Harvard Business
School Press 1996
ISBN
0-87854-651-3
The
Strategy-Focused Organization - How Balanced Scorecard Companies Thrive in
the New Business Environment - Harvard Business School Press 2001
ISBN
1-57851-250-6
Strategy Maps - Converting Intangible Assets into Tangible Outcomes -
Harvard Business School Press 2004
ISBN 1-59139-134-2
There
have also been several articles on the Balanced Scorecard in the Harvard
Business Review.
For
a good quick overview of the subject consider:
Understanding
the Balanced Scorecard - M. Bourne, P. Bourne - Hodder & Stoughton
2000
ISBN
0-340-78004-5
We
would also recommend the following books:
Performance
Drivers - A Practical Guide to Using the Balanced Scorecard - N-G. Olve,
J. Roy, M.Wetter - Wiley 2000
ISBN
0-471-49542-5
Balanced
Scorecard - Step-by-Step - P. Niven - Wiley 2002
ISBN
0-471-07872-7
(There
is also a 2003 version of this book that concentrates on the public
sector)
If you like to order any of the books
please click on the
link below:
How
can the Balanced Scorecard benefit the business
The Balanced
Scorecard allows a business to translate the overall business strategy
into a series of functional strategies and initiatives that can be
communicated and readily understood by all levels of the organization.
With a properly constructed and implemented scorecard everyone in the organization
will understand their role and what they need to do to achieve business
and personal success. Another benefit of the scorecard is that it includes
the necessary rigor to be used as a business control tool through having a
cascade of metrics leading to shareholder value in 'for profit' businesses
or equally to some other top level metric of success in 'not-for-profit' organizations.
It provides a context for all other management initiatives from Activity Based
Management to Total Quality Management.
How we can help
At MEC Services Ltd we use the Balanced Scorecard
internally as the basis for our own growth and success. Our principal
consultant has completed the 'Building the Balanced Scorecard'
practitioners course operated by the Balanced
Scorecard Collaborative - David Norton's official organization
for promoting the Balanced Scorecard.
We can offer a training course that
introduces the
concept of the Balanced Scorecard that is available as a public course or
in-house at your premises.
We also offer a complete hands-on service to take you
through ALL the necessary steps to establish and implement a Balanced Scorecard.
Please email us postmaster@mecservices.co.uk
if you would like us to send you a printed copy of our detailed roadmap "Implementing
Corporate Performance Management"
View / download the MEC Services approach to
Implementing Corporate Performance
Management
To
see how else we can help in this area explore our links below and use the
back button on your browser to return to this page:
The EFQM Model
ISO9000
Total Quality Management
Other Resources
If you would
like further details and papers on the Balanced Scorecard try the
following sites:
BetterManagment.com
2GC
Consulting
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