The Balanced Scorecard: Translating Strategy into Action

In this book, four dimensions of strategy thought are "Financial, Customer, Operations, and Learning and Development". Authors strongly believe that there should be a powerful connection among these four dimensions if organizations are to be successful in an environment in which stiff competition dominates. According to the authors, one of the most important cause of business failures is that some companies make an excess emphasis on financial objectives and so ignore the ways to realize these objectives. How to develop a system which makes an equal emphasis on four dimensions of strategy mentioned above is explained in the book. For managers who do not know but want to learn how to make a plan that will be functional and measurable, this book is a must.

The one of the most important contributions of this book is its approach to the Learning Process in strategic planning. According to the authors, strategy creating process is also a learning process and therefore should be exploited.

I strongly recommend.


Overcome Poor Communications and Bureaucracy for New Actions   Juillet 26, 2001
Elodie Hazac (Paris)
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The Balanced Scorecard looks at the important issues of alignment, coordination, and effective implementation. Most business thinkers like to start with the big picture, and end there. As a result, most ideas for going in a new direction are quickly diluted by misunderstanding, falling back on old habits, and lethargy. Since Peter Drucker first popularized the idea of business strategy, there have been vastly more strategies conceived than there have been strategies successfully implemented as a result. Much attention has been paid to devising better strategies in the last four decades, and little to implementing strategies. The big pay-off is in the implementation, and The Balanced Scorecard is one of handful of books that provide important and valuable guidance to explain what needs to be done to successfully execute strategy. You must have more measures, and different measures than the accounting system provides. You also need to link measures and compensation to the key tasks that each person must perform. This book is simply the Rosetta Stone of communicating and managing strategy. The Balanced Scorecard is the beginning of the practical period of maturity in the field of business strategy. Read this book today to enjoy much more prosperity! I also recommend that you read The Fifth Discipline, The Fifth Discipline Handbook, and The Dance of Change to understand more about the context in which you are trying to make positive change. These four books are excellent companions for each other.