In this article Robert S. Kaplan and David P. Norton talk about building and executing strategies through a closed loop managerial system involving development, translation, operation, monitoring and adaptation. Devising and implementing a solid business strategy is straightforward enough as long as the people involved communicate throughout the process. It is suggested daily meetings may be necessary in order to successfully implement a business strategy. Using the process laid out in this article any business has the ability to apply a successful business strategy.
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by in Harvard Business Review on September 01, 1993
In this article Robert S. Kaplan and David P. Norton report on the Balance Scorecard. Before the Balanced Scorecard companies have used various measurement systems that have made incremental improvements and concentrated mostly on the company's financials. The Balanced Scorecard shows you four different perspectives in which to choose measures that can redefine a company's processes measurement system so short term and long term objectives are in balance with each other. When using the Balanced Scorecard a company is no longer needs to worry about small incremental improvements, but a new processes measurement system that will allow a company to get where it wants to go.
