
Balanced Scorecard Evolution
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Content
- Intro
- Balanced Scorecard Evolution
- Contents
- Preface
- LOOKING BACK AND LOOKING AHEAD
- HOW IS THIS BOOK DIFFERENT?
- WHO WILL BENEFIT FROM THIS BOOK?
- HOW THE BOOK IS ORGANIZED
- Acknowledgments
- Chapter 1 What Exactly Is a Balanced Scorecard?
- ORIGINS, AND A BRIEF HISTORY, OF THE BALANCED SCORECARD
- BALANCED SCORECARD PERSPECTIVES
- Customer Perspective
- Internal Process Perspective
- Learning and Growth Perspective
- Financial Perspective
- WHAT IS A BALANCED SCORECARD?
- Objectives and Strategy Maps
- Performance Measures and Targets
- Strategic Initiatives
- TELLING THE STORY OF YOUR STRATEGY THROUGH CAUSE AND EFFECT
- Cause and Effect Linkages in Practice
- Always Strive to Tell Your Strategic Story
- KEY BALANCED SCORECARD QUESTIONS AND ANSWERS
- What Is the Difference between a Balanced Scorecard and a Dashboard?
- Does Balance Mean an Equal Number of Objectives and Measures in Each Perspective of the Balanced Scorecard?
- What Version or Generation of the Balanced Scorecard Does This Book Cover?
- Does the Balanced Scorecard Change?
- How Important Is Terminology in a Balanced Scorecard Implementation?
- NOTES
- Chapter 2 Just Like the Boy Scouts: Be Prepared
- FIRST THINGS FIRST: WHY ARE YOU DEVELOPING A BALANCED SCORECARD?
- ANSWERING THE QUESTION: WHY THE BALANCED SCORECARD AND WHY NOW?
- POSSIBLE REASONS FOR LAUNCHING A BALANCED SCORECARD
- SEND YOURSELF A POSTCARD FROM THE FUTURE
- START WITH A PROVOCATIVE ACTION
- OVERCOMING SKEPTICISM
- BENEFITS OF A GUIDING RATIONALE
- WHERE DO WE BUILD THE BALANCED SCORECARD?
- CRITERIA FOR CHOOSING AN APPROPRIATE ORGANIZATIONAL UNIT
- EXECUTIVE SPONSORSHIP: A CRITICAL ELEMENT OF ANY BALANCED SCORECARD PROGRAM
- Securing Executive Sponsorship
- SPONSORSHIP ADVICE FOR EXECUTIVES
- YOUR BALANCED SCORECARD TEAM
- Choosing the Team
- How Many People Should Be on Your Balanced Scorecard Team?
- What Skill Sets Should Team Members Possess?
- Team Member Roles and Responsibilities
- Balanced Scorecard Team Members
- Training Your Team
- MANAGING THE BALANCED SCORECARD ON AN ONGOING BASIS: THE OFFICE OF STRATEGY MANAGEMENT
- FUNCTIONS OF THE OFFICE OF STRATEGY MANAGEMENT
- Initial Considerations in Establishing a Strategic Management Office
- YOUR BALANCED SCORECARD DEVELOPMENT PLAN
- The Planning Phase
- The Development Phase
- BE FAST, BUT BE THOUGHTFUL IN YOUR APPROACH
- DEVELOPING A COMMUNICATION PLAN TO SUPPORT YOUR BALANCED SCORECARD INITIATIVE
- Communication: A Vital Link to Success
- Why Communication Is Critical to Your Balanced Scorecard
- A Guiding Rationale for Your Communication Plan
- Key Elements of a Communication Plan
- Evaluating the Effectiveness of Your Communication Efforts
- Final Thoughts on Communication Planning
- FINAL ASSESSMENTS TO MAKE BEFORE YOU BEGIN BUILDING A BALANCED SCORECARD
- If You Already Have a Strategy Map or Balanced Scorecard of Measures, Are You Willing to Change It?
- Critically Examine the Existence of Common Change Blockers
- How Fast Are Things Changing in Your Environment?
- Do You Have a Strategy?
- NOTES
- Chapter 3 Balanced Scorecard Building Blocks: Mission, Vision, and Strategy
- MISSION
- What Is a Mission Statement, and Why Is It So Important?
- Effective Mission Statements
- Developing Your Mission Statement
- The 5 Whys
- From 5 Whys to 6 Questions
- Gast's Laws
- A Simpler Approach
- Who Writes the Mission Statement?
- If You Already Have a Mission
- Why Mission Is Critical to the Balanced Scorecard
- VISION
- The Role of Vision through History
- What Is a Vision Statement?
- Effective Vision Statements
- Developing Your Vision Statement
- VISION STATEMENTS AND THE BALANCED SCORECARD
- A Rose by Any Other Name
- STRATEGY
- Problems with Strategy and Strategic Planning
- Co-Creating a Strategy and Balanced Scorecard
- STRATEGIC THEMES
- Regardless of the Method-Hard Work Is Required
- APPENDIX 3A: AN INTRODUCTION TO THE ROADMAP STRATEGY PROCESS
- Roadmap Strategy
- Four Fundamental Questions You Must Answer When Creating a Strategy
- The Four Lenses
- A Strategy to Create True Alignment from Top to Bottom
- NOTES
- Chapter 4 Conduct Effective and Engaging Workshops
- BEFORE THE WORKSHOP
- Plan
- Determine Where to Hold the Workshop
- Decide on the Day
- Determine Who Will Attend the Workshop
- Assign Pre-Work
- DURING THE WORKSHOP
- Getting Started: The Power of Story
- Tell Them Again and Again . . .
- Answering the Why Question
- Prime Participants for Success
- Facilitating the Session
- Encouraging Full Attention and Dealing with Distractions
- Be Present and Listen More
- FAR Moments
- Avoiding Rabbit Holes
- THE ROLE OF EXECUTIVES IN WORKSHOPS
- First Things First
- You're the CEO for a Reason
- NOTES
- Chapter 5 Building Powerful Strategy Maps That Tell Your Strategic Story
- WHAT IS A STRATEGY MAP?
- Breaking It Down
- Telling the Story through Cause and Effect
- WHY YOU NEED A STRATEGY MAP
- THE SPECTRUM OF STRATEGIC PLANS
- DEVELOPING STRATEGY MAP OBJECTIVES
- Creating Effective Objectives
- DEVELOPING OBJECTIVES FOR EACH OF THE FOUR PERSPECTIVES
- Developing Objectives for the Financial Perspective
- Developing Objectives for the Customer Perspective
- WHICH VALUE PROPOSITION IS BEST?
- Managing Dual Value Propositions
- Developing Objectives for the Internal Process Perspective
- Developing Objectives for the Learning and Growth Perspective
- Human Capital: Aligning People with Strategy
- Recruit the Right People
- Close Skill Gaps
- Train for Success
- Information Capital: Aligning Information and Technology with Strategy
- Organizational Capital-Creating the Climate for Growth and Change
- USING STRATEGIC THEMES IN THE DEVELOPMENT OF A STRATEGY MAP
- DEVELOPING A SHARED UNDERSTANDING WITH OBJECTIVE STATEMENTS
- Objective Statements Defined
- Creating Objective Statements: Who and When
- Finalizing the Objective Statements
- HOW MANY OBJECTIVES ON A STRATEGY MAP?
- Reviewing the Objectives on your Strategy Map
- So What Is the Right Number of Objectives?
- NOTES
- Chapter 6 Create a Balanced Scorecard of Robust Measures, Meaningful Targets, and Strategic Initiatives
- WHAT ARE PERFORMANCE MEASURES?
- CREATING BETTER PERFORMANCE MEASURES
- Avoid Biases in Measure Development
- Adopt a Solutions Mind-set
- Embrace Measurement Challenges
- ATTRIBUTES OF EFFECTIVE PERFORMANCE MEASURES
- Linked to Your Strategy
- Quantitative (Most of the Time)
- Accessible
- Update Frequently
- Counterbalance
- Relevant
- Measures, Not Strategic Initiatives
- Mix of Lag and Lead Indicators
- Last But Not Least . . . Keep Them Simple
- MEASURES FOR EACH OF THE FOUR PERSPECTIVES
- Fortifying the Financial Perspective
- RECORDING YOUR MEASURES: CREATING A PERFORMANCE MEASURE DATA DICTIONARY
- Measure Background
- Measure Characteristics
- Calculation and Data Specifications
- Performance Information
- How Many Measures on a Balanced Scorecard?
- TARGETS: THE GOALS THAT BRING MEASURES TO LIFE
- What Are Performance Targets? Why Are They Important to the Balanced Scorecard?
- Types of Performance Targets
- DO YOU NEED ALL THREE TYPES OF TARGETS?
- Setting Performance Targets
- STRATEGIC INITIATIVES: PROJECTS THAT DRIVE BREAKTHROUGH PERFORMANCE
- Ensuring Strategic Initiatives Support Your Strategy
- Creating New Strategic Initiatives
- Prioritizing among Strategic Initiatives
- The Rewards Are Worth the Effort!
- NOTES
- Chapter 7 Hold Strategy Execution Meetings So Good, People Actually Want to Attend
- FROM THEORY TO PRACTICE
- Not So Breaking News: Meetings Are Flawed!
- First Things First: This Is a Strategy Execution Review Meeting
- BEFORE THE MEETING
- Schedule the Meetings in Advance
- Choose Your Facilitator
- Determine Who Will Attend
- Share Materials in Advance
- IN THE MEETING
- Reviewing Scorecard Results-Options Abound
- Focus on Questions as Much as Answers
- Set a Tone of Continuous Learning
- Listen More
- Gaze Out, Not In
- Fight Apathy!
- AFTER THE MEETING
- What to Expect from Your Strategy Execution Review Meetings
- Concluding Thoughts on Strategy Execution Review Meetings
- REPORTING RESULTS WITH BALANCED SCORECARD SOFTWARE
- CRITERIA FOR SELECTING SOFTWARE
- Design Issues: Configuration of the Software
- Reporting and Analysis
- Technical Considerations
- Maintenance and Security
- Evaluating the Vendor
- Developing Your Own Balanced Scorecard Reporting System
- NOTES
- Chapter 8 Let Everyone Demonstrate Their Contribution by Cascading the Balanced Scorecard
- WHAT IS CASCADING?
- THE SEARCH FOR MEANING
- THE CASCADING PROCESS
- Develop Implementation Principles
- ENSURE UNDERSTANDING OF YOUR HIGHEST-LEVEL STRATEGY MAP AND SCORECARD BEFORE CASCADING
- Influence Is the Key to Cascading
- Support Group Balanced Scorecards
- Personal Balanced Scorecards
- Checking the Alignment of Cascaded Balanced Scorecards
- Making Cascading Work
- Really Making It Work
- A Final Thought on Cascading
- NOTES
- Chapter 9 Integrating Change Management Techniques to Drive Balanced Scorecard Success
- PREPARING FOR SCORECARD SUCCESS
- Send Yourself a Postcard from the Future
- Start with a Provocative Action
- Shrink the Change to Overcome Skepticism
- Executives Must Put on a SCARF
- Create an Office of Strategy Management to Shepherd the Scorecard
- Communicate Constantly
- Critically Examine the Existence of Common Change Blockers
- WHEN BUILDING THE BALANCED SCORECARD
- Clear the Path for Your Team
- Use the Power of Story
- Prime Participants for Success
- Avoid Multitasking
- Be Open to Creative Ideas
- Avoid Biases in Measure Development
- USING THE BALANCED SCORECARD
- Schedule Strategy Execution Review Meetings in Advance
- Follow Through, and Follow Up, on Action Items from Strategy Execution Review Meetings
- Live by the Balanced Scorecard
- Bake the Balanced Scorecard into the Organization's Culture
- Be Resilient
- BALANCED SCORECARD IMPLEMENTATION CHECKLISTS
- NOTES
- About the Author
- Index
- EULA
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