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Title: The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment by Robert S. Kaplan, David P. Norton ISBN: 1-57851-250-6 Publisher: Harvard Business School Press Pub. Date: September, 2000 Format: Hardcover Volumes: 1 List Price(USD): $29.95 |
Average Customer Rating: 4.42 (19 reviews)
Rating: 5
Summary: The Perilous "Journey" to Breakthrough Performance
Comment: If you have not already read Kaplan and Norton's The Balanced Scoreboard, I presume to suggest that you do so prior to reading this book. However, this sequel is so thoughtful and well-written that it can certainly be of substantial value to decision-makers in any organization (regardless of size or nature) which is determined to "thrive in the new business environment." Research data suggest that only 5% of the workforce understand their company's strategy, that only 25% of managers have incentives linked to strategy, that 60% of organizations don't link budgets to strategy, and 85% of executive teams spend less than one hour per month discussing strategy. These and other research findings help to explain why Kaplan and Norton believe so strongly in the power of the Balanced Scorecard. As they suggest, it provides "the central organizing framework for important managerial processes such as individual and team goal setting, compensation, resource allocation, budgeting and planning, and strategic feedback and learning." After rigorous and extensive research of their own, obtained while working closely with several dozen different organizations, Kaplan and Norton observed five common principles of a Strategy-Focused Organization:
1. Translate the strategy to operational terms
2. Align the organization to the strategy
3. Make strategy everyone's job
4. Make strategy a continual process
5. Mobilize change through executive leadership
The first four principles focus on the the Balanced Scorecard tool, framework, and supporting resources; the importance of the fifth principle is self-evident. "With a Balanced Scorecard that tells the story of the strategy, we now have a reliable foundation for the design of a management system to create Strategy-Focused Organizations."
After two introductory chapters, the material is carefully organized and developed within five Parts, each of which examines in detail one of the aforementioned "common principles": Translating the Strategy to Operational Terms, Aligning the Organization to Create Synergies, Making Strategy Everyone's Job, Making Strategy a Continual Process, and finally, Mobilizing Change Through Executive Leadership. Kaplan and Norton then provide a "Frequently Asked Questions" section which some readers may wish to consult first.
There are many pitfalls to be avoided when designing, launching, and implementing the program which Kaplan and Norton present. These pitfalls include lack of senior management commitment, too few individuals involved [or including inappropriate individuals at the outset], keeping the scoreboard at the top, too long a development process (when, in fact, the Balanced Scorecard is a one-time measurement process), treating the Balanced Scorecard as an [isolated] systems project, hiring consultants lacking sufficient experience with a Balanced Scorecard, and introducing the Balanced Scorecard only for compensation. When organizations experience one or more of these pitfalls, their key executives can soon become impatient, confused, frustrated, and ultimately, opposed to Balanced Scorecard initiatives. It is imperative to understand both what the Balanced Scorecard must be (e.g. cohesive and comprehensive) and what it must not be (e.g. fragmented and episodic). Kaplan and Norton correctly note that the journey they propose "is not easy or short. It requires commitment and perseverance. It requires teamwork and integration across traditional organizational boundaries and roles. The message must be reinforced often and in many ways." Those who are determined to achieve organization-wide breakthrough performance are fortunate to have Kaplan and Norton as companions every step of the way during what is indeed a perilous "journey."
Rating: 5
Summary: Extremely detailed, highly informative, dryly written
Comment: The Strategy-Focused Organization
Building on their Balanced Scorecard approach, Kaplan and Norton have developed an impressive framework in The Strategy-Focused Organization for the implementation of strategy. They have found that 90% of strategic initiatives fail due not to formulation but to implementation difficulties. Successful implementation of strategy requires all parts of an organizations to be aligned and linked to the strategy, while strategy itself must become a continual process in which everyone is involved. The Balanced Scorecard, originally seen by the authors as a measurement tool, is now presented as a means for implementing strategy by creating alignment and focus.
Financial measures report on lagging financial indicators. The Balanced Scorecard aims to report on the drivers of future value creation. The book shows in detail how this is done from four perspectives: Financial, customer, internal business perspective, and learning and growth (these are outlined on p.77). These four perspectives produce a highly detailed framework when combined with the five principles of a strategy-focused organization: 1: Translate the strategy to operational terms. 2: Align the organization to the strategy. 3: Make strategy everyone's everyday job. 4: Make strategy a continual process. 5: Mobilize change through executive leadership.
Absorbing every detail of this book will require many hours. The sheer detail of this complex system requires considerable attention, perhaps more than some readers can muster, but clearly distinguishes this work from many books full of business fluff. The style tends to be turgid and pedantic while being admirably complete. Readers can grasp the essence of the book's central points by reading only Chapter 1 (Creating the Strategy-Focused Organization), Chapter 3 (Building Strategy Maps), and Chapter 8 (Creating Strategic Awareness). Skip quickly through the chapters in Part Two: Aligning the Organization to Create Synergies. This section is the least engaging of the five. The balanced scorecard approach to strategy will appeal to those with a systematizing frame of mind. The book is filled with complex diagrams of corporate processes consisting of interrelated boxes and forces.
This approach is extremely detailed and complex. It requires a major commitment and effort. Though the authors claim it can be implemented by smaller organizations, this will be more challenging than for large companies who can commit a team full time to working out the details.
Much of the value of the approach may lie not so much in following through on completely working out the balanced scorecard but on absorbing the lessons regarding organizational integration across silos and the importance of clarity about mission, strategy, and goals. The balanced scorecard is one way to achieve and implement this clarity but not the only way. Another would be continual reiteration of these (as in Confessions of An Extraordinary Executive). Some companies may benefit from strict use of this system, including finding units of measurement for its implementation. Others will gain much from applying the insights without such a formal and complete implementation.
Rating: 5
Summary: A "Must Read" for Executives!
Comment: If you are an executive don't fail to read this. Kaplan and Norton's Balanced Scorecard approach has had a tremendous impact on thinking in the executive suite. Buy and read a copy today. I have bought copies for all of my clients.
Michael Beitler
Author of "Strategic Organizational Change"
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Title: The Balanced Scorecard: Translating Strategy into Action by Robert S. Kaplan, David P. Norton ISBN: 0875846513 Publisher: Harvard Business School Press Pub. Date: September, 1996 List Price(USD): $35.00 |
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Title: Strategy Maps: Converting Intangible Assets into Tangible Outcomes by Robert S. Kaplan, David P. Norton ISBN: 1591391342 Publisher: Harvard Business School Press Pub. Date: 02 February, 2004 List Price(USD): $35.00 |
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Title: Balanced Scorecard Step-by-Step: Maximizing Performance and Maintaining Results by Paul R. Niven ISBN: 0471078727 Publisher: John Wiley & Sons Pub. Date: 15 March, 2002 List Price(USD): $45.00 |
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Title:The Balanced Scorecard: Measures That Drive Performance (HBR OnPoint Enhanced Edition) by Robert S. Kaplan, David P. Norton ASIN: B00005REHA Publisher: Harvard Business School Press Pub. Date: 24 April, 2004 List Price(USD): $7.00 Comparison N/A, buy it from Amazon for $7.00 |
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Title:Having Trouble with Your Strategy? Then Map It (HBR OnPoint Enhanced Edition) by Robert S. Kaplan, David P. Norton ASIN: B00005REI5 Publisher: Harvard Business School Press Pub. Date: 24 April, 2004 List Price(USD): $7.00 Comparison N/A, buy it from Amazon for $7.00 |
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