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Balanced Scorecard Strategy For Dummies (For Dummies (Business & Personal Finance)) PDF

386 Pages·2007·3.74 MB·English
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Balanced Scorecard Strategy FOR ‰ DUMmIES by Chuck Hannabarger, Rick Buchman, and Peter Economy Balanced Scorecard Strategy FOR ‰ DUMmIES by Chuck Hannabarger, Rick Buchman, and Peter Economy ® Balanced Scorecard Strategy For Dummies Published by Wiley Publishing, Inc. 111 River St. Hoboken, NJ 07030-5774 www.wiley.com Copyright © 2007 by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as per- mitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-646-8600. Requests to the Publisher for permission should be addressed to the Legal Department, Wiley Publishing, Inc., 10475 Crosspoint Blvd., Indianapolis, IN 46256, 317-572-3447, fax 317-572-4355, or online at http:// www.wiley.com/go/permissions. Trademarks: Wiley, the Wiley Publishing logo, For Dummies, the Dummies Man logo, A Reference for the Rest of Us!, The Dummies Way, Dummies Daily, The Fun and Easy Way, Dummies.com and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates in the United States and other countries, and may not be used without written permission. All other trademarks are the property of their respective owners. Wiley Publishing, Inc., is not associated with any product or vendor mentioned in this book. LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: THE PUBLISHER AND THE AUTHOR MAKE NO REP- RESENTATIONS OR WARRANTIES WITH RESPECT TO THE ACCURACY OR COMPLETENESS OF THE CONTENTS OF THIS WORK AND SPECIFICALLY DISCLAIM ALL WARRANTIES, INCLUDING WITHOUT LIMITATION WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE. NO WARRANTY MAY BE CRE- ATED OR EXTENDED BY SALES OR PROMOTIONAL MATERIALS. THE ADVICE AND STRATEGIES CON- TAINED HEREIN MAY NOT BE SUITABLE FOR EVERY SITUATION. THIS WORK IS SOLD WITH THE UNDERSTANDING THAT THE PUBLISHER IS NOT ENGAGED IN RENDERING LEGAL, ACCOUNTING, OR OTHER PROFESSIONAL SERVICES. IF PROFESSIONAL ASSISTANCE IS REQUIRED, THE SERVICES OF A COMPETENT PROFESSIONAL PERSON SHOULD BE SOUGHT. NEITHER THE PUBLISHER NOR THE AUTHOR SHALL BE LIABLE FOR DAMAGES ARISING HEREFROM. THE FACT THAT AN ORGANIZATION OR WEBSITE IS REFERRED TO IN THIS WORK AS A CITATION AND/OR A POTENTIAL SOURCE OF FUR- THER INFORMATION DOES NOT MEAN THAT THE AUTHOR OR THE PUBLISHER ENDORSES THE INFOR- MATION THE ORGANIZATION OR WEBSITE MAY PROVIDE OR RECOMMENDATIONS IT MAY MAKE. FURTHER, READERS SHOULD BE AWARE THAT INTERNET WEBSITES LISTED IN THIS WORK MAY HAVE CHANGED OR DISAPPEARED BETWEEN WHEN THIS WORK WAS WRITTEN AND WHEN IT IS READ. For general information on our other products and services, please contact our Customer Care Department within the U.S. at 800-762-2974, outside the U.S. at 317-572-3993, or fax 317-572-4002. For technical support, please visit www.wiley.com/techsupport. Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. Library of Congress Control Number: 2007932466 ISBN: 978-0-470-13397-2 Manufactured in the United States of America 10 9 8 7 6 5 4 3 2 1 About the Author Chuck Hannabarger: Chuck (Tyler, Texas) is founder and president of PSI Associates, a business consulting and training firm founded in 1992 with head- quarters in Tyler, Texas. As a business consultant, Chuck has consulted with many of the Fortune 100 companies and is recognized throughout the world for his work in the areas of Balanced Scorecards, Six Sigma, Lean Manufacturing, Business Process Reengineering and Project Management. Chuck’s course on Project Management has been offered at UC Berkeley, Pepperdine University, San Diego State University, and Michigan State University, to name a few. He received his BSBA and his MBA in technology management from the University of Phoenix. To schedule Chuck or one of his associates to discuss your busi- ness improvement needs, contact him at www.PSIAssociates.com or e-mail him at Dedication From Chuck: Dedicated to my father and mother, Don and Emma, who have always been in my corner, and to my wife Denise, our children and grandchil- dren, without whose support and understanding I wouldn’t have been able to write this book. Authors’ Acknowledgments We give our sincere thanks and appreciation to our publishing team at Wiley, including Joyce Pepple, Michael Lewis, Jennifer Connolly, and Darren Meiss, Josh Dials, and to our Technical Editor, Bill Lareau. Chuck: Thanks to Rick and Peter for their friendship, steadfast support, and dedication to making this project happen. Rick: Thanks to Mona, my mom, and my family, who helped me think through the many ideas, models and tools of the balanced scorecard, and who always cheered me on. Peter: Thanks to Chuck and Rick for their diligent efforts throughout this project—no matter where in the world they happened to be at the time (and let me tell you, these guys get around!). Publisher’s Acknowledgments We’re proud of this book; please send us your comments through our Dummies online registration form located at www.dummies.com/register/. Some of the people who helped bring this book to market include the following: Acquisitions, Editorial, and Composition Services Media Development Project Coordinator: Patrick Redmond Project Editor: Jennifer Connolly Layout and Graphics: Carl Byers, Acquisitions Editor: Mike Lewis Brooke Graczyk, Joyce Haughey, Stephanie D. Jumper, Laura Pence Copy Editor: Josh Dials Anniversary Logo Design: Richard Pacifico Technical Editor: Bill Lareau Proofreaders: Aptara, John Greenough, Editorial Manager: Michelle Hacker Jessica Kramer Editorial Supervisor: Carmen Krikorian Indexer: Aptara Editorial Assistants: Erin Calligan Mooney, Joe Niesen, Leeann Harney, and David Lutton Cartoons: Rich Tennant (www.the5thwave.com) Publishing and Editorial for Consumer Dummies Diane Graves Steele, Vice President and Publisher, Consumer Dummies Joyce Pepple, Acquisitions Director, Consumer Dummies Kristin A. Cocks, Product Development Director, Consumer Dummies Michael Spring, Vice President and Publisher, Travel Kelly Regan, Editorial Director, Travel Publishing for Technology Dummies Andy Cummings, Vice President and Publisher, Dummies Technology/General User Composition Services Gerry Fahey, Vice President of Production Services Debbie Stailey, Director of Composition Services Contents at a Glance Introduction .................................................................1 Part I: The ABC’s of Balanced Scorecard ........................7 Chapter 1: Goals, Scores, and the Balanced Scorecard.................................................9 Chapter 2: Building and Balancing Scorecard Strategies ............................................31 Chapter 3: Planning For the Balanced Scorecard.........................................................49 Chapter 4: Putting Your Balanced Scorecard into Action ...........................................61 Part II: The Customer — The Critical Leg .....................73 Chapter 5: Understanding Your Role with Customers.................................................75 Chapter 6: Creating a Customer Scorecard...................................................................89 Chapter 7: Building the Customer Leg Dashboard.....................................................111 Part III: Financial Measurement — The Foundation Leg...................................................125 Chapter 8: Understanding Your Role in Financial Measurement .............................127 Chapter 9: Building the Financial Leg Scorecard .......................................................149 Chapter 10: Building the Financial Leg Dashboard....................................................177 Part IV: Internal Business Processes — The Value-Creation Leg .............................................197 Chapter 11: Understanding Your Role in Internal Business Processes ...................199 Chapter 12: Building the Internal Business Process Scorecard ...............................229 Chapter 13: Building Dashboards for Internal Business Processes.........................243 Part V: Knowledge, Education, and Growth — The Learning Leg ......................................................255 Chapter 14: Understanding Your Role in Learning and Growth ...............................257 Chapter 15: Creating the Knowledge, Education, and Growth Scorecard...............285 Chapter 16: Creating The Knowledge, Education, and Growth Dashboard............305 Part VI: The Part of Tens ...........................................321 Chapter 17: Ten Tips for Balanced Scorecard Success .............................................323 Chapter 18: Ten Biggest Scorecard Mistakes to Avoid ..............................................331 Chapter 19: Ten Tips for Overcoming Barriers ..........................................................339 Index .......................................................................345

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