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Balanced Scorecard

Balanced Scorecard Step-by-Step by Paul R Niven

The full title of this book by Paul Niven is

Balanced Scorecard Step-by-Step: Maximizing Performance and Maintaining Results“.

In my review posted on Amazon.co.uk, I gave this book a rating of Four Stars. This means I think it is Good and Well Worth Reading.

Here is my book review.

Very clear explanation of the balanced scorecard as a performance measurement system

This is a terrific book that explains both the logic of the balanced scorecard and the supporting strategy maps and how to implement it.

The book is packed with practical tips from this consultant who has advised many companies on their performance measurement projects. It’s a much more practical book than the Kaplan and Norton books that are busy selling the idea of the Balanced Scorecard. [continue reading…]

in Best Business Books

The full title of this book by Robert Kaplan and David Norton is

The Balanced Scorecard: Translating Strategy into Action

In my review posted on Amazon.co.uk, I gave it Three Stars.

Here is my review.

Sensible idea backed by brilliant marketing.

Back in the early 1990s I was thinking a lot about performance measurement in a manufacturing business and I wanted to reflect more non-financial factors that provided a more balanced view and cascaded our main business objectives down the organisation.

When I read the book I found that the authors shared many of the same ideas as I did. This was no surprise when much of it is common sense when you take the time and trouble to think about it. The problem at that time was few people were really thinking beyond financial measures and a few productivity based volume metrics.

What they did, that I didn’t, was 1) come up with a catchy name and 2) swing a brilliant marketing campaign behind it.

The strength is that when this is explained, it all seems so logical. Of course you need to link KPI to your strategic objectives with a good balance of leading measures that predict future performance with the all important, but lagging, financial numbers.

The weakness is that it’s much harder to do in practice. There’s a cost involved in measuring and reporting anything and the value of monitoring has to come from corrective and supporting actions.

The balanced scorecard has gone on to be extremely popular with big companies and the logic of a balanced set of performance metrics needs to be rippled down into the independently owned SMEs. While this book began it all, there are better books that update the ideas and give you a clearer idea of how to implement eg Paul Niven’s book “Balanced Scorecard Step-by-Step: Maximizing Performance and Maintaining Results“.

There are many thousand of business books, you can see the full list of my reviews at Business Books Reviews by Paul Simister (Please click). I've also narrowed these down to a list of the 12 Best Business Books For Business Owners & Entrepreneurs (Please click).

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in Other Business Books

The full title of this book by Donald Gusfa, Kenneth Gusfra and Daniel Stanley is

The Balanced Scorecard: A Practical Primer To Enhance Your Performance Through Strategic Goals

In my review posted on Amazon.co.uk, I gave it Two Stars.

Here is my review.

Disappointing

I firmly believe in the idea of encouraging small businesses to develop a well balanced set of performances linked to their strategic objectives.

The balanced scored, as developed by Robert Kaplan and David Norton, is such an approach. [continue reading…]

in Other Business Books