BSC STEP-BY-STEP | Balanced Scorecard Step-by-Step: Maximizing Performance and Maintaining Results

Excellent Nuts and Bolts Guide | Balanced Scorecard Step-by-Step: Maximizing Performance and Maintaining Results | Paul R. Niven

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	• Balanced Scorecard Step-by-Step: Maximizing Performance and Maintaining Results Paul R. Niven Wiley, 2006 - 336 pages average customer review:based on 27 reviews view larger image
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highly recommended

Balanced

Book is in new condition and was shipped in a timely manner. Haven't yet read it, however.

BSC STEP-BY-STEP

This is an awesome book, a very detailed roadmap to build a BSC that acts as an strategic management system. If you are not familiar with the concept you might be interested in reading the Balanced scorecard book by Robert S. Kaplan and Dave Norton, but that is not necessary. The book covers the topics in a manner that is suitable for experts and beginners alike.

Excellent Nuts and Bolts Guide

This is very much a nuts and bolts how to book, and is a great complement to the Kaplan and Norton series. The aproach Niven uses takes each step of the BSC implmentation and execution, and develops both logical implementation approaches, issues and step by step plans for execution.

Niven starts with discussing the need for the BSC, and then starts the cascading process of mission, values and vision - all the way through to ensuring that the organization is aligned with the goals and objectives. The book itself breaks out into five parts:

*Introduction to Performance Management and the Balanced Scorecard
*Step-by-Step development of the Balanced Scorecard
*Embedding the Balanced Scorecard in the Organization's Management System
*Sustaining Balanced Scorecard Success
*Balanced Scorecard in Government and Not for Profit Sectors

If you are in a BSC world, and beginning or early in the implmentation process, this book needs to be on your reading list and in your library. Niven's practical approach, tools, checkinsts and experience are invaluable. As noted above, mis book is a COMPLEMENT to the Kaplan & Norton series, so make sure you start with them first.

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Excellent Cookbook for Balanced Scorecard

AN EXCELLENT COOKBOOK!

Balanced Scorecard

Being a traditional performance measurement tool, financial measures have their limitations:
* Not consistent with today's business realities-value rests in the ideas not in the tangible assets
* Driving by rearview mirror-excellent review of past but no way indicative of future
* Tend to reinforce functional silos-statements prepared by function; today's organization cross-functional in nature
* Sacrifice long-term thinking-focus on short term gains at the expense of long term value leads to sub-optimization of resources
* Financial measures are not relevant to many levels of the organization-abstractions compiled from information at all levels but lacks actionable data needed for day-to-day activities

The world has transitioned from industrial age to the information age due to leap evolutions in communications technology and `soft' assets such as skills, capabilities, expertise, cultures, loyalties and so on have emerged as value creating operational drivers. These assets, also known as intellectual property, determine success or failure for organizations.

Value of intangible assets in organizations such as customer satisfaction and loyalty, continuous innovation, and organizational learning has increased from 38% in 1982 to 75% today.

As a consequence, Drs. Kaplan & Norton suggested in 1992 the Balanced Scorecard methodology as a long-sought performance measurement tool.

The Balanced Scorecard had been cited by HBR as one of the 75 most influential business ideas of the twentieth century. Through the advent of the Strategy Map, the methodology evolved from measurement system to strategy communication device.

The Balanced Scorecard today serves as a communication tool, a measurement system and a strategic management system based on the following perspectives:

Customer Perspective-customer satisfaction, customer loyalty, market share, and customer acquisition.
Internal Process Perspective-product development, production, manufacturing, delivery and post-sale service.
Employee Learning and Growth Perspective-employee skills, employee satisfaction, availability of information, and alignment.
Financial Perspective-profitability, revenue growth, and asset utilization

The Book

This work by Paul Niven is an excellent cookbook, which sets out both theoretical backgrounds and practical roadmap to successful implementation and execution of strategy. I believe Chapters 5, 6 and 7 are the most critical and crucial to the healthful implementation of Niven's step-by-step methodology. The content is organized as follows.

Contents

Chapter 1 -Performance Measurement and the Need for a Balanced Scorecard
Chapter 2 - Getting Started
Chapter 3 - Mission, Values, Vision, and Strategy
Chapter 4 -Strategy Maps
Chapter 5 - Creating Performance Measures
Chapter 6 - Setting Targets and Prioritizing Initiatives
Chapter 7 - Cascading the Balanced Scorecard to Build Organizational Alignment
Chapter 8 - Using the Balanced Scorecard to Strategically Allocate Resources
Chapter 9 - Additional Balanced Scorecard Linkages: Compensation and Corporate Governance
Chapter 10 - Reporting Balanced Scorecard Results
Chapter 11 - Maintaining the Balanced Scorecard
Chapter 12 - Concluding Thoughts on Balanced Scorecard Success

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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

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reviews: page 1, 2, 3, 4, 5, 6

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