Make the Balanced Scorecard Effective (Balancing Strategy and Control)

Author: Oliver et al., translated by Pei Zhengbing
Publisher:
Publishing Date: 2004-01-01
Features: China's socialist market economy system has been preliminarily established, and the trend of economic globalization is unstoppable. To survive and thrive in the fierce and ever-changing market competition, companies must have clear strategies and effective strategic management tools. In 1992, Robert Kaplan, a professor at Harvard University, and David Norton, the president of, co-authored an article in the Harvard Business Review, where they pioneeringly introduced the concept of the Balanced Scorecard. The Balanced Scorecard concept had a revolutionary impact on corporate management as soon as it emerged. For the managers of Chinese enterprises, it also holds significant implications for learning and reference. Over the past decade and a half, the Balanced Scorecard concept has attracted widespread attention globally. Many companies enthusiastically began to apply the Balanced Scorecard to ensure the realization of their expected strategies. However, as a consultant and researcher, the author has often encountered the phenomenon that the implementation of the Balanced Scorecard in companies fails to achieve the expected goals. This book is based on the author's personal experiences from participating in numerous projects. In this book, the authors discuss some of the key challenges and issues that companies face when applying the Balanced Scorecard. If these challenges and issues are not addressed correctly, they can severely hinder the success of the Balanced Scorecard, even consuming the company's enthusiasm for it, even if the Balanced Scorecard theory is correct, the company cannot escape. This book reviews the measures taken by successful companies in the face of these challenges, allowing readers to learn from the successes of other companies while also drawing lessons from their failures.