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This assignment will consist of a critical and evaluative intellectual biography of a contemporary leading thinker - Essay Example

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Robert Kaplan together with David Norton are recognized as advocates for balanced scorecard an approach they introduced in Harvard business review article entitled “The balanced scorecard: measures that drive performance”. Robert gained B.S and M.S in electrical engineering…
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This assignment will consist of a critical and evaluative intellectual biography of a contemporary leading thinker
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Download file to see previous pages Norton is a consultant as well as a speaker withregard to strategic performance management and a founder of Palladium group. The profession group mainly deals with performance measurement and management and before founding andbecoming the group’s director he engaged in Renaissance Solutions a consulting company he founded together with Robert Kaplan in 1992.
The balanced scorecard aims at helping the development and management of strategy through focusing on the way key measures relate in tracking progress. In the paper Kaplan and Norton believe only adherence to quarterly financial returns and bottom line does not offer an organization the overall strategic view. However, the balanced scorecard goes beyond only the exploitation of financial measures through incorporation of three other essential perspectives. These other perspectives include customer perspective, internal business perspective and the learning or innovation perspective. Customer perspective addresses the way customers consider an organization while internal business perspective requires an organization to establish what is needed for it to excel; moreover, the innovation perspective addresses what is needed in an organization to improve and create value in future. Through evaluation of the present and offering indications of future drivers, the scorecard is capable of measuring and motivating business performance (Kaplan& Norton, 1992). Kaplan and Norton published Strategy Maps, in this book they show that despite the increased significance of knowledge based assets, many organizations still focused on measuring short term financial performance. The book elaborates strategy as a notion by describing it in terms of its relationship referred to as strategy map. The book shows shifting trend from product-driven economy toward a knowledge economy values intangible assets in organizational performance. However, at the time of writing the book there was no literature offering ...Download file to see next pagesRead More
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