Summary : The Balanced Scorecard - Robert S. Kaplan & David P. Norton

This work offers a summary in English of the book "e;THE BALANCED SCORECARD: Translating Strategy Into Action"e; by Robert S. Kaplan and David P. Norton.In this powerful book, Kaplan and Norton reveal how to build a "e;Balanced Scorecard"e; for a business enterprise and how to use it [...]
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This work offers a summary in English of the book "e;THE BALANCED SCORECARD: Translating Strategy Into Action"e; by Robert S. Kaplan and David P. Norton.In this powerful book, Kaplan and Norton reveal how to build a "e;Balanced Scorecard"e; for a business enterprise and how to use it as a strategic management system.As the authors explain, the Balanced Scorecard is a new business management system which links the achievement of long-term strategic goals with day to day operational requirements. It combines traditional financial measures of success (which are lagging indicators because they always measure past performance) with initiatives designed to generate business in the future (represented by leading indicators). The Balanced Scorecard also articulates and clarifies why the organization is structured the way it is, and the future direction of the company in such a way that employees, managers and shareholders can have a shared vision which is consistent with the organization's operations. According to Kaplan and Norton, the payoff for developing a Balanced Scorecard is that business strategy can be turned into action.The Balanced Scorecard presents a revolutionary tool that will change the way you measure and manage your business. A must read for all strategist practitioners.