Synopses & Reviews
Organizations worldwide have employed the Balanced Scorecard and yielded swift benefitsincluding increased financial returns, greater employee alignment with overall goals, improved collaboration, and an unrelenting focus on strategy, to name just a fewfrom this revolutionary methodology. Balanced Scorecard Step-by-Step, Second Edition enables your organization to reap these rewards with a strategy-focused plan including steps on: determining your guiding rationale for using the scorecard; testing your mission; building a strategy map; developing measures and targets; placing the scorecard at the center of your management system; and sustaining your success.
Updated and enhanced with the latest Balanced Scorecard topics, this influential book empowers your organization to turn strategy into performance at every organizational level and translate your intangible resources, such as innovation, customer relationships, and intellectual capital, into real value. The Second Edition of Balanced Scorecard Step-by-Step includes updated case studies as well as new and expanded coverage on:
- Strategy maps, the powerful communication tools that convey to the entire workforce (and beyond) what is most critical in executing the organization's strategy
- The linkage between the Balanced Scorecard and corporate governance
- The critical importance of "strategy-centered" management meetings
- The emerging trend of the Office of Strategy Management
- The latest trends in Balanced Scorecard implementation methodology
- Post-implementation guidance
Sharing his extensive experience in developing Balanced Scorecards for Fortune 500, public sector, and not-for-profit organizations, Paul Niven takes you through the complete Balanced Scorecard journeyfrom 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. Whether you are a CEO, CFO, CIO, a vice president, a division or department manager, or a business consultant, Balanced Scorecard Step-by-Step, Second Edition allows you to efficiently execute your organization's strategy and successfully compete in today's business environment.
Review
"Paul Niven's latest book Balanced Scorecard Step by Step: Maximizing Performance and Maintaining Results was written to fill the considerable void that exists between Balanced Scorecard theory and application" (BetterManagement.com, March 2002)
Synopsis
In Balanced Scorecard Step-by-Step, Paul Niven shares his extensive experience in developing Balanced Scorecards for Fortune 1000, public sector, and not-for-profit organizations. The reader quickly learns that a Balanced Scorecard implementation is more than a "metrics" project, that it touches many critical organizational processes. Through detailed step-by-step discussions, Niven provides insight on and practical solutions for: developing performance objectives and measures that faithfully translate strategy, generating executive support, and assembling the right team. Readers also learn how to ensure the Balanced Scorecard becomes an integral component of their management systems by cascading it to all levels of the organization, aligning budgets and compensation with strategy, reporting results with software, and putting in place systems to ensure lasting success.
"Paul Niven, through his experience as project leader at the excellent and highly successful implementation at Nova Scotia Power, and subsequently as a Balanced Scorecard consultant, is one of the few who can talk and write knowledgeably about how to make the Scorecard happen in an organization. Balanced Scorecard Step-by-Step guides readers through the processes required for a successful Balanced Scorecard project. In addition, he shows how to become a strategy-focused organization by imbedding the Balanced Scorecard into critical organizational processes." --From the Foreword by Robert S. Kaplan
"This is the Balanced Scorecard journey, told step-by-step by one who has traveled the BSC road many times. Paul Niven is not just a sideline cheerleader for the BSC; he is someone who rolls up his sleeves and has what it takes to fine-tune BSC performance promises. A must-read for anyone considering or already on the BSC journey." --Catherine Stenzel, Editor, Journal of Cost Management
Synopsis
PRAISE FOR Balanced Scorecard Step-By-Step: Maximizing Performance and Maintaining Results
second edition
"As a practitioner and thought leader, Paul Niven is superbly bridging the gulf between BSC theory and application through hands-on experiences and real-world case studies. The book provides a practical road map, step-by-step, to plan, execute, and sustain a winning scorecard campaign. Easy to read . . . tells a powerful story with lessons learned/best practices from global customer implementations. Must-read for anyone interested in BSC or grappling with how to create a strategically aligned organization."
Vik Torpunuri, President and CEO, e2e Analytix
"In Balanced Scorecard Step-by-Step, Second Edition, Paul Niven provides an intuitive and incredibly effective blueprint for transitioning strategic ambition to execution. Paul's pragmatic approach provides leaders with a tool for managing a company's journey from strategic ideas to world-class performance. The Balanced Scorecard is a masterful tool for guiding companies through transformation, and I speak from personal experience when I say Paul's blueprint works! It is the most effective guide I have seen. Balanced Scorecard Step-by-Step will serve any leader well if their ambition is to efficiently engage their teams in achieving a set of strategic goals."
Allan A. MacDonald, Vice President, Sales and Customer Solutions Bell Canada National Markets
"Paul Niven has done it again!!! With this book, he has further operationalized the enlightened Balanced Scorecard concept into a fully functional system that optimizes business execution and performance!"
Barton Johnson, President, Financial Freedom Senior Funding Corporation, The Reverse Mortgage Specialist
Synopsis
PRAISE FOR Balanced Scorecard Step-By-Step: Maximizing Performance and Maintaining Results
second edition
"As a practitioner and thought leader, Paul Niven is superbly bridging the gulf between BSC theory and application through hands-on experiences and real-world case studies. The book provides a practical road map, step-by-step, to plan, execute, and sustain a winning scorecard campaign. Easy to read . . . tells a powerful story with lessons learned/best practices from global customer implementations. Must-read for anyone interested in BSC or grappling with how to create a strategically aligned organization."
Vik Torpunuri, President and CEO, e2e Analytix
"In Balanced Scorecard Step-by-Step, Second Edition, Paul Niven provides an intuitive and incredibly effective blueprint for transitioning strategic ambition to execution. Paul's pragmatic approach provides leaders with a tool for managing a company's journey from strategic ideas to world-class performance. The Balanced Scorecard is a masterful tool for guiding companies through transformation, and I speak from personal experience when I say Paul's blueprint works! It is the most effective guide I have seen. Balanced Scorecard Step-by-Step will serve any leader well if their ambition is to efficiently engage their teams in achieving a set of strategic goals."
Allan A. MacDonald, Vice President, Sales and Customer Solutions Bell Canada National Markets
"Paul Niven has done it again!!! With this book, he has further operationalized the enlightened Balanced Scorecard concept into a fully functional system that optimizes business execution and performance!"
Barton Johnson, President, Financial Freedom Senior Funding Corporation, The Reverse Mortgage Specialist
Synopsis
Balanced Scorecard
Step-by-Step:
Maximizing Performance and Maintaining Results
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.
Synopsis
This book explains how an organization can measure and manage performance with the Balanced Scorecard methodology. It provides extensive background on performance management and the Balanced Scorecard, and focuses on guiding a team through the step-by-step development and ongoing implementation of a Balanced Scorecard system. Corporations, public sector agencies, and not for profit organizations have all reaped success from the Balanced Scorecard. This book supplies detailed implementation advice that is readily applied to any and all of these organization types. Additionally, it will benefit organizations at any stage of Balanced Scorecard development. Regardless of whether you are just contemplating a Balanced Scorecard, require assistance in linking their current Scorecard to management processes, or need a review of their past measurement efforts, Balanced Scorecard Step by Step provides detailed advice and proven solutions.
About the Author
PAUL R. NIVENis 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 organizations large and small around the globe. His clients include Fortune 500 companies, public sector agencies from all levels, and nonprofit organizations. He may be reached through his Web site at www.senalosa.com.
Table of Contents
Foreword.
Acknowledgments.
Preface.
PART ONE: INTRODUCTION TO PERFORMANCE MEASUREMENT AND THE BALANCED SCORECARD.
Chapter 1. Performance Measurement and the Need for a Balanced Scorecard.
Chapter 2. Balanced Scorecard as an Enduring Management Tool.
PART TWO: STEP-BY-STEP DEVELOPMENT OF THE BALANCED SCORECARD.
Chapter 3. Getting Started.
Chapter 4. Mission, Values, Vision, and Strategy.
Chapter 5. Developing Performance Objectives and Measures.
Chapter 6. Finalizing Measures and Developing Cause and Effect Linkages.
Chapter 7. Setting Targets and Prioritizing Initiatives.
PART THREE: EMBEDDING THE BALANCED SCORECARD IN THE ORGANIZATION'S MANAGEMENT SYSTEM.
Chapter 8. Cascading the Balanced Scorecard to Build Organizational Alignment.
Chapter 9. Using the Balanced Scorecard to Strategically Allocate Resources.
Chapter 10. Linking Rewards to Performance: The Balanced Scorecard and Compensation.
PART FOUR: SUSTAINING BALANCED SCORECARD SUCCESS.
Chapter 11. Reporting Balanced Scorecard Results.
Chapter 12. Maintaining the Balanced Scorecard.
PART FIVE: BALANCED SCORECARDS IN THE PUBLIC AND NOT-FOR-PROFIT SECTORS AND CONCLUDING THOUGHTS ON SCORECARD SUCCESS.
Chapter 13. Balanced Scorecards in the Public and Not-for-Profit Sectors.
Chapter 14. Concluding Thoughts on Balanced Scorecard Success.
Index.