Focusing Your Organization on Strategy--with the Balanced Scorecard, 3rd Edition (HBR Article Collection)

The Balanced Scorecard (BSC) has transformed companies around the globe by helping top executives set corporate strategy and translate it into objectives, measures, and targets that the entire workforce understands. With the BSC, strategy becomes a continuous process owned by every employee. The scorecard methodology also enables you to communicate high-level goals down to all organizational levels--so employees know not only what to do, but why. The BSC augments financial measures with metrics that assess performance in customer relationships, internal processes, and intangible assets such as workforce learning and growth. BSC originators Robert S. Kaplan and David P. Norton continue to develop tools and concepts that help organizations get the most from their scorecard programs. Their latest innovation? The "office of strategy management," a department that boosts your company's strategic performance by integrating units responsible for strategy formulation with those that carry out activities crucial to strategy execution--such as establishing budgets and designing compensation systems that reward strategic performance.