Kaplan and Norton

Kaplan

Norton

Kaplan and Norton

Drs. Robert S. Kaplan and David P. Norton are the creators of the Balanced Scorecard. The authors of five books and eight Harvard Business Review articles together. They are the worlds leading authorities on strategic performance measurement and management.

Kaplan and Norton

Kaplan is the Chairman of Professional Practice at Palladium Group.
Dr. David P. Norton is the Founder and Director of Palladium Group.

KAPLAN-EARLY LIFE
Robert S. Kaplan was born in the year 1940. He served as Dean of GSIA from 1977 to 1983. Received a B.S. and M.S. in Electrical Engineering from M.I.T., and a Ph.D. in Operations Research from Cornell University.

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Kaplan joined the HBS faculty in 1984 after spending 16 years on the faculty of the Graduate School of Industrial Administration (GSIA), Carnegie-Mellon University. He is Baker Foundation Professor at Harvard Business School and co-creator, together with David P. Norton, of the balanced scorecard, a means of linking a company's current actions to its long-term goals. Robert S. Kaplan is the Marvin Bower Professor of Leadership Development at Harvard Business School.

KAPLAN - NOW
Kaplan consults on the design of performance and cost management systems with many leading companies in North America and Europe He regularly offers seminars in North America, South America, Europe, Asia, and Israel. Currently, Kaplan serves on the Academic Committee of the Board of Trustees of the Technion (Israel Institute of Technology)and as a director, with David Norton, for the Balanced Scorecard Collaborative.

Kaplans interest
Kaplan's research, teaching, and consulting focus on new cost and performance measurement systems, primarily active-based costing and the Balanced Scorecard .
He has authored or co-authored more than 100 papers and ten books.

Awards won by Kaplan

Kaplan received the Outstanding Accounting Educator Award in 1988 from the American Accounting Association (AAA).
In1994,he got CIMA Award from the Chartered Institute of Management Accountants (UK) for "Outstanding Contributions to the Accountancy Profession."

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In 2006, Kaplan received the Lifetime Contribution Award from the Management Accounting Section of the American Accounting Association. Also in 2006, Kaplan was named to the Accounting Hall of frame.

In 1994, he was awarded an honorary doctorate from the University of Stuttgart.

David P. Norton-Early Life

He did B.S. in electrical engineering from Worcester Polytechnic Institute. M.S. in operations research from the Florida Institute of Technology. MBA from Florida State University, and his doctorate in business administration from Harvard Business School.

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David P. Norton is the worlds leading authority on strategic performance management. Co-founder and director of several professional services firms, including Palladium Group, Balanced Scorecard Collaborative, and Renaissance Worldwide.

Previously, the president of Renaissance Solutions, Inc., an international consulting firm in 1992.

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Before Renaissance, he co-founded Nolan, Norton & Company. There he spent 17 years as president, prior to its acquisition by KPMG Peat Marwick. A frequent lecturer and writer around the world. His work on strategy management in form of many books, articles, executive conferences, training seminars, and other programs. Nortons books have been translated into 23 languages.

Honours and Awards

One of the worlds 12 most influential thinkers by Sun Top Medias Thinkers 50 in 2008.
Champion of Workplace Learning and Performance Award by the American Society for Training and Development.

BOOKS BY KAPLAN AND NORTON

The Balanced Scorecard: Translating Strategy into Action The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment Strategy Maps: Converting Intangible Assets into Tangible Outcomes Alignment: Using the Balanced Scorecard to Create Corporate Synergies

BALANCED SCORECARD
"The Balanced Scorecard: Measures that Drive Performance" in the January 1992 edition of Harvard Business Review. A framework helps to design and implementation of strategic performance management tools within organisations. To provide organizations with a "balanced" range of metrics against which to measure their performance.

BALANCED SCORECARD
"Balance" implied-organizations can gain a broader view of leading indicators of performance by including non-financial metrics (e.g. learning and growth of employees, efficiency of internal business processes, and customer satisfaction). This method has been endorsed by corporate heavyweights such as Mobil and Sears.

PERSPECTIVES
Financial Perspective: Profit, Return on capital, Cash flow, and Margins. Customer perspective: The customer is concerned with:
Time Quality Performance and Service Price or rate

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Internal (business) Process Perspective: Involves:
Operations management processes Customer management processes Innovation processes Social and regulatory processes.

Learning and Growth Perspective: Includes human, information and organizational capital or capacities.

What is Strategy map?

A strategy map is a visual representation of the strategy of an organization. Illustrates how the organization plans to achieve its mission and vision by means of a linked chain of continuous improvements.

A strategy map is a diagram that is used to document the primary strategic goals being pursued by an organisation or management team.

PURPOSE
It is an element of the documentation associated with the Balanced Scorecard.
Useful in enabling discussion within a management team about what objectives to choose, and subsequently to support discussion of the actual performance achieved.

EXAMPLE OF A STRATEGY MAP

Strategy-focused organization along 5 key principles:

Translate strategy to operational terms. Align organization to strategy. Make strategy everyone's day job. Make strategy continual process. Mobilize change through leadership.