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Book chapter
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Reference no. 1664BC
Chapter from: "The Balanced Scorecard: Translating Strategy into Action"
Published by: Harvard Business Publishing
Published in: 2006

Abstract

Companies initially adopt the balanced scorecard for a variety of reasons, including clarifying and gaining consensus on strategy, focusing organizational change initiatives, developing leadership capabilities at strategic business units, and gaining co-ordination and economies across multiple business units. Follows the evolutionary path followed by two organizations, National Insurance and Kenyon Stores, to build a new strategic management system, identifying the pitfalls some organizations have encountered in developing a balanced scorecard, and providing recommendations for organizing the development and implementation of a scorecard project. This chapter is excerpted from ‘The Balanced Scorecard: Translating Strategy into Action'.
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Abstract

Companies initially adopt the balanced scorecard for a variety of reasons, including clarifying and gaining consensus on strategy, focusing organizational change initiatives, developing leadership capabilities at strategic business units, and gaining co-ordination and economies across multiple business units. Follows the evolutionary path followed by two organizations, National Insurance and Kenyon Stores, to build a new strategic management system, identifying the pitfalls some organizations have encountered in developing a balanced scorecard, and providing recommendations for organizing the development and implementation of a scorecard project. This chapter is excerpted from ‘The Balanced Scorecard: Translating Strategy into Action'.

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