John Wiley & Sons
October 15, 2002
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 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 website at www.primeruconsulting.com.