Translating strategy into action ebook written by robert s. Kaplan is a professor at harvard university and david p. Converting intangible assets into tangible outcomes 1 september 2004. This article also contains a downloadable and editable balanced scorecard template what is a balanced scorecard. Strategy maps pages 7, 8 ibms complete customer solution page 8 by robert s. Converting intangible assets into tangible outcomes authors robert s. Kaplan and norton identify four themes, which they go on to describe as valuecreating. Read strategy maps converting intangible assets into tangible outcomes by robert s.
Norton introduced the balanced scorecard, a revolutionary performance measurement system that allowed organizations to quantify intangible assets such as selection from strategy maps. So, before moving to strategy maps, it is essential to understand the balanced scorecard. This offering is the 3rd and one of the most valuable, perhaps the key to kaplan and nortons five book series on how the balanced scorecard can be used to develop a strategy focused organization through strategy maps to achieve alignment and the execution premium. It doesnt have to be that way, maintain robert kaplan and david norton in the execution premium. Kaplans most popular book is the balanced scorecard. The strategy map allows companies to describe the links between intangible assets and value creation so all aspects of strategy can be implemented in a manner that ensures sustained value creation. More strategic management and corporate finance models. Kaplan is the marvin bower professor of leadership development at harvard business school. Kaplan and norton are gungho about the power of strategy maps to provide a conceptual framework for understanding any corporation, public institution or nonprofit organization, but general readers are likely to shake their head at jargonheavy reformulations of the obvious like the ideal customer experience is a product that meets customer specifications and is suitable for immediate use by the customer. Kaplan coauthored the strategyfocused organization and strategy maps book with his wellrenowned fellow executive david p.
One increasingly popular framework to combine these qualities is the balanced scorecard. Norton, have created a powerful new tool based on their ongoing research. Norton introduced the balanced scorecard, a revolutionary performance measurement system that allowed organizations to quantify intangible assets such as people, information, and customer relationships. Now the people who first developed the balanced scorecard, robert s. Converting intangible assets into tangible outcomes by. Strategic management converting intangible assets into. Norton is founder and president of the balanced scorecard collaborative in lincoln, massachusetts. Strategy maps takes readers to the next level of precision in strategy implementation.
The balanced scorecard is one of the most successful and widely used management tools in the world. Clarify the strategy and facilitate the communication of the said strategy to each employee. With strategy maps, kaplan and norton expand the balanced scorecard concept they presented in their first book, called the balanced scorecard. Norton, which is also the cofounder, and president of the balanced scorecard groupon. Converting intangible assets into tangible outcomes ebook written by robert s. Kaplan is baker foundation professor at harvard business school.
Converting intangible assets into tangible outcomes english edition ebook. The strategy focused organization how balanced scorecard companies thrive in the new business environment. Norton when they pioneered the idea of balanced scorecard in their book the balanced scorecard, translating strategy into action. An example of a generic strategy map can be seen below. Converting intangible assets into tangible outcomes. Kaplan and norton are gungho about the power of strategy maps to provide a conceptual framework for understanding any corporation, public institution or nonprofit organization, but general readers are likely to shake their head at jargonheavy reformulations of the obvious like the ideal customer experience is a product that meets customer. Evolving as a breakthrough in secondgeneration balanced scorecards, the underlying concept of strategy maps is based on the premise that a picture is worth a thousand words. Kaplan s research, executive program teaching, and consulting focus on aligning cost and performance management systems to strategy execution. Building on their breakthrough works on strategyfocused organizations, the authors describe a multistage system that enables you to gain measurable benefits from your carefully formulated business strategy. Translating strategy into action, and hbrs 10 must reads. Kaplan is the bestselling author of sixteen books on foreign affairs and travel translated into many languages, including in europes shadow, asias cauldron, the revenge of geography, monsoon, the coming anarchy, and balkan ghosts. Everyday low prices and free delivery on eligible orders. From the originators of the balanced scorecard system, strategy maps. Building on their breakthrough works on strategy focused organizations, the authors describe a multistage system that enables you to gain measurable benefits from your carefully formulated business strategy.
Kaplan and norton claim that this generic map reflects a generalization of their work with a large number of companies for whom they have developed specific strategy maps. Kaplan and norton are gungho about the power of strategy maps to provide a conceptual framework for understanding any corporation, public institution or nonprofit organization, but general readers are likely to shake their head at jargonheavy reformulations of the obvious like the ideal customer experience is a product that meets customer specifications and is suitable for immediate. Mapping your corporate strategy hbs working knowledge. He is a senior fellow at the center for a new american security and a contributing editor at the atlantic, where his work has appeared for three decades. Their original book in 1996, the balanced scorecard, translating strategy into action, contained diagrams which are later called strategy maps, but at this time they did not refer to them as such.
Robert kaplan and david norton are best known as the originators of the balanced scorecard, a strategic management tool that links a companys current actions with its longterm goals. They start with principle 1, mobilize the executive team, followed quickly by principle 2, translate the strategy into a strategy map of linked strategic objectives with an accompanying balanced scorecard of measures and. Even if the strategy map is a tool for expressing concrete strategy, it is also an instrument of information within the organization. Although the previous book of kaplan and norton already spent 64 pages on strategy maps, you can find the latest, best and most comprehensive treatment of strategy maps including lots of examples in the book that is mentioned below. Kaplan has 73 books on goodreads with 34849 ratings. Oct 25, 2012 introduction to strategy maps a book by robert s kaplan and david p norton 1. Strategy maps a brief guide for mapping your goals. Download it once and read it on your kindle device, pc, phones or tablets. Download for offline reading, highlight, bookmark or take notes while you read strategy maps.
An example of themes that are often misaligned with strategy are. Buy books, tools, case studies, and articles on leadership, strategy. Download for offline reading, highlight, bookmark or take notes while you read the balanced scorecard. Kaplan and norton explain that strategy maps provide a way for organisations to describe and communicate their strategies. Norton introduced the balanced scorecard, a revolutionary performa. C h a p t e r t e n organization capital readiness the previous chapters discussed the development and alignment of two vital intangible assetshuman capital and information capitalto selection from strategy maps.
It provides tons of ideas on how to assemble the various components of the strategy map, as well as revisits the selection of overall strategy themes. Strategy maps isbn 978159940 pdf epub robert kaplan. Strategic management what youll learn in this summary which organizational processes are most critical for enhancing productivity. This acclaimed book by robert kaplan is available at in several formats for your ereader. Otherwise, wed suggest that kaplan and nortons two earlier books have more meat. How to understand a strategy map and the causeandeffect relation. This cited by count includes citations to the following articles in scholar. This article explains the balanced scorecard, developed by robert kaplan and david norton, in a practical way. Robert kaplan biography the strategyfocused organization. Strategy maps introduces a new tool that has evolved from robert kaplan.
Robert samuel kaplan born 1940 is an american accounting academic, and emeritus professor of leadership development at the harvard business school, known as cocreator, together with david p. Norton introduced the balanced scorecard, a revolutionary performance measurement system that. Then, in the strategy focused organization, kaplan and norton showed how organizations achieved breakthrough performance with a. The balanced scorecard summary how can we describe the balanced scorecard. Commentary transforming the balanced scorecard from. But the good news about kaplan and norton is that they have created a continuum from the lowestlevel measures of the balanced scorecard to the highest precepts of business strategy. During the past 30 years, much attention has been focused on how companies can formulate new. Converting intangible assets into tangible outcomes kindle edition by robert s. The strategy map allows companies to describe the links between intangible assets and value creation so all aspects of strategy can be implemented in a. Kaplan is the marvin bower professor of leadership development at harvard business school and chairman of the balanced scorecard collaborative. Kaplan and norton recently published strategy maps, the third book in. Norton, strategy maps are an indispensable tool to. Converting intangible assets into tangible outcomes robert s. Strategy maps introduces a new tool that has evolved from robert kaplan and david nortons ongoing research with hundreds of balanced scorecard adopters.
Introduction to strategy maps a book by robert s kaplan and. This book will help you to stay out ofthe failed troops. Organization, which, in turn, results from strategy maps and balanced scorecards. Introduction to strategy maps a book by robert s kaplan. Figure 1 on the following page provides an overview of a strategy map. Norton is founder and president of the balanced scorecard collaborative. Mapping your corporate strategy harvard business school.
Marvin bower professor of leadership development robert s. Kaplan joined the hbs faculty in 1984 after spending 16 years on the faculty of the business school at carnegiemellon university, where he served as dean from 1977 to 1983. Strategy maps book strategy maps converting intangible assets into tangible outcomes robert s. Norton harvard business school press the third volume of the balanced scorecard methodology. Converting intangible assets into tangible outcomes kaplan, robert s. Strategy maps can help chart this difficult terrain. After reading you will understand the basics of this powerful strategy and performance management tool. This article also contains a downloadable and editable balanced scorecard template. In a previous paper kaplan and norton 2001b, we described the role for strategy maps and balanced scorecards to develop performance. Dec 16, 2003 with strategy maps, kaplan and norton expand the balanced scorecard concept they presented in their first book, called the balanced scorecard. The strategy map idea featured in several books and articles during the late 1990s by robert s.
Converting intangible assets into tangible outcomes author. Although the previous book of kaplan and norton already spent 64 pages on strategy maps, you can find the best and most comprehensive treatment of them including lots of examples in the book on the right. Converting intangible assets into tangible outcomes book. Introduction to strategy maps a book by robert s kaplan and david p norton 1. The benefit you get by reading this book is actually information inside this. Converting intangible assets into tangible outcomes 1st edition by robert s. Those especially interested in strategy maps, or those who want to read a lot of specific case studies, may find this book a useful adjunct. Nortons book strategy maps shows that many businesses share the same problem. The main purpose of this book strategy maps is to provide a more visual description of the balanced scorecard, which is achieved through literally mapping the strategy.
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