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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 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.
In this book, the authors draw on their
extensive experience with scorecard projects to provide
a step-by-step method for introducing the Balanced Scorecard
into an organization. This is done through the use of some
of the most important practical examples in existence, with
case studies from ABB, Coca Cola, Electrolux, British Telecom,
Nat West, Skandia and Volvo. 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, 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.
This book will provide senior and operational
managers, consultants and business academics with a comprehensive
view of emerging Balanced Scorecard practice supported by
both business advice and a theoretical foundation. Reflections
on the relations between the Balanced Scorecard and other
areas, such as TQM, information systems and intellectual
capital and knowledge management are also made.
Nils-Goran Olve is Adjunct Professor
at Linkoping University. He has worked extensively in management
training and co-authored one previous Wiley book, Virtual
Organizations and Beyond, 1997. As a senior partner in
CEPRO Management Consultants in Stockholm, his work concentrates
on management control issues, and in particular the Balanced
Scorecard and management of IT.
Jan Roy in CEO and a senior partner of
CEPRO Management Consultants and previously worked as CEO
of several Swedish companies, especially in the retail industry.
As a consultant, he mainly deals with strategic change processes.
Magnus Wette is a management consultant
specializing in strategic development and control issues
and until recently was with CEPRO Management Consultants.
He has an M.Sc. in Business and Administration from Lund
University and also studied at McGill University in Montreal.
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