"If you can´t measure it, you can´t manage it", is a favorite expression of Kaplan & Norton.

In 1992 Kaplan & Norton introduced the Balanced Business Scorecard, to use the full name for their invention. In an article in the Harvard Business Review the Balanced Scorecard was primarily described as an instrument for improving business performance.

The Balanced Scorecard did start out as a means of clearly describing the performance a company should be delivering on various fronts and then accurately monitoring that performance. In practice, however, it also turned out to be an excellent tool for converting
strategy into concrete action and then for monitoring the strategy´s effectuation.

MBA in One Day - Management Classics is a series of 10 audio programs from author Ben Tiggelaar about the insights and advice from the most important management gurus. Presenter Bill Hoopes discusses the ideas of: Stephen Covey, Peter Drucker, Eli Goldratt, Michael Hammer, Kaplan & Norton, Philip Kotler, Henry Mintzberg, Tom Peters, Michael Porter, and Robert Quinn.

Contents

1 Welcome

2 Who are Kaplan and Norton

3 The Vision of Kaplan and Norton

4 The Balanced Scorecard in Brief

5 The Financial Perspective

6 The Customer Perspective

7 The Internal Business Processes Perspective

8 The Learning and Growth Perspective

9 Implementing the Balanced Scorecard

10 The Balanced Scorecard in Practice

11 A New Approach to Strategic Management

12 Praise and Criticism

13 The Practical Value of Kaplan and Norton's Ideas