Balanced Scorecard
I’m sure everyone keeps on hearing about Balanced Scorecard all the time now. Especially the HR Field! I had gone to some book stores trying to find out, what’s the hype all about….. and NOT surprising most of the books on HR scorecard is around 25$ - 30$!
Then it became my quest to understand what this scorecard is all about!
The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise.
Kaplan and Norton found that companies are using the scorecard to:
• Clarify and update budgets
• Identify and align strategic initiatives
• Conduct periodic performance reviews to learn about and improve strategy.
In 1997, Kurtzman found that 64 percent of the companies questioned were measuring performance from a number of perspectives in a similar way to the balanced scorecard.
Balanced scorecards have been implemented by government agencies, military units, corporate units and corporations as a whole, nonprofits, and schools; many sample scorecards can be found via Web searches, though adapting one organization's scorecard to another is generally not advised by theorists, who believe that much of the benefit of the scorecard comes from the implementation method.
I have attached an amazing article from the Harvard Business Review! And that was an eye opener :) Hope this helps you guys too….
From India, Mumbai
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6I’m sure everyone keeps on hearing about Balanced Scorecard all the time now. Especially the HR Field! I had gone to some book stores trying to find out, what’s the hype all about….. and NOT surprising most of the books on HR scorecard is around 25$ - 30$!
Then it became my quest to understand what this scorecard is all about!
The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise.
Kaplan and Norton found that companies are using the scorecard to:
• Clarify and update budgets
• Identify and align strategic initiatives
• Conduct periodic performance reviews to learn about and improve strategy.
In 1997, Kurtzman found that 64 percent of the companies questioned were measuring performance from a number of perspectives in a similar way to the balanced scorecard.
Balanced scorecards have been implemented by government agencies, military units, corporate units and corporations as a whole, nonprofits, and schools; many sample scorecards can be found via Web searches, though adapting one organization's scorecard to another is generally not advised by theorists, who believe that much of the benefit of the scorecard comes from the implementation method.
I have attached an amazing article from the Harvard Business Review! And that was an eye opener :) Hope this helps you guys too….
From India, Mumbai
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Hi,
I found that Jenny asked the same question in this forum 1 month ago. Please use the search box at the top of the site to find this question. Apart from that, you can also refer to more information at: [Balanced Scorecard Books](http://www.vinetbooks.com/balanced-scorecard-books/).
Rgs
From Vietnam, Hanoi
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I found that Jenny asked the same question in this forum 1 month ago. Please use the search box at the top of the site to find this question. Apart from that, you can also refer to more information at: [Balanced Scorecard Books](http://www.vinetbooks.com/balanced-scorecard-books/).
Rgs
From Vietnam, Hanoi
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6 Balanced Scorecard A Strategic Management Tool.pdf
Performance Management System.doc