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The information age is upon us. This new
era of globalization, unprecedented customer knowledge,
and instant communication has significant implications for
the measurement systems modern organizations use to track
their course. Financial numbers alone can no longer tell
the complete story of what is necessary to transform powerful
intangible assets such as innovation and human capital into
real value. The Balanced Scorecard has emerged as the preeminent
tool in helping thousands of organizations translate strategy,
align employee action, and harness the power of today's
value-creating intellectual assets.
Hailed as one of the seventy-five most influential
business ideas of the twentieth century, the Balanced Scorecard
is a proven methodology for organizational success as evidenced
by its extensive and successful use around the globe. This
remarkable tool provides the crucial link in turning strategy
into action at every level of the organization and translates
all-important intangible assets such as intellectual capital,
customer relationships, and innovation into real value.
The profoundly simple, yet disciplined approach
of the Balanced Scorecard allows an organization to execute
its strategy and balance the historical accuracy and integrity
of financial numbers with the drivers of future success
by developing performance measures in four interrelated
perspectives: financial, customer, internal processes, and
employee learning and growth. Used as a strategic management
system, the Balanced Scorecard provides real-time learning
about an organization's strategy and what is necessary to
successfully compete in today's business environment.
Balanced Scorecard Step-by-step presents
detailed, real-world advice on how any organization -- regardless
of size or structure -- can develop a winning performance
management system. This practical and comprehensive resource
guides the reader through the complete Balanced Scorecard
journey, from creating powerful new performance measures
that drive the execution of your strategy to the tools necessary
to make the Scorecard the cornerstone of your management
processes.
Paul R. Niven is a management consultant
and noted speaker on the subjects of Performance Management
and the Balanced Scorecard. As both a practitioner and consultant,
he has developed successful Performance Management systems
for large and small clients in a wide variety of organizations,
including Fortune 1000 companies, public sector, and not-for-profit.
He can be reached through his Web site at www.primerusconsulting.com
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