The Balanced Scorecard
92 days until pitchers and Molinas report, everyone... 92 days.
The Balanced Scorecard was published over a decade ago, in 1996. But, even before it was a book, it was a tool—a management system developed by Robert Kaplan and David Norton. The key word in there is system (as opposed to a management philosophy), because a good system can be implemented within any structure and improve any organization, whereas a philosophy is something you have to fit in, something you have to sell to those within your company, something you have to get them to buy into.
To use a baseball analogy, any team can evaluate player talent using raw data, and develop a system for how they evaluate that data and set a strategy for putting a strong team on the field that wins games and draws fans. Some teams, however, have the idea that character is more important. They want nine scrappy, selfless and hungry players. They don't care as much about statistics. They want players that will run out every ground ball and into every wall, that fit with the philosophy of the franchise. They figure that nine players like that, scrapping it up on every play and playing together, will somehow exceed their collective talent level—will play better than nine prima donna superstars who just collect their vast pay checks and run around with Kate Hudson. And, as much as that philosophy appeals to my Midwestern sensibilities, as much as it may feel right sometimes, it doesn't make a whole lot of sense.
"If you can't measure it, you can't manage it."
The Balanced Scorecard Page 21
And, as good as it makes me feel to read the book of a great business leader espousing the wisdom they've gained on their way to the top—as much as that may inspire the reader—the solid, actionable tools and resources to measure and improve a company's performance found in The Balanced Scorecard are probably not there. And, though the life lessons the business gurus of the world relate are encouraging, they are not always applicable to the place we go to work every day.
The appendix in The Balanced Scorecard has more substantive content than entire other books. In that section of the book alone, you'll learn how to construct a system of measurements for your specific company, one that takes into account financial performance, customer knowledge, internal business processes, and learning and growth to help you set a strategy—and translate that strategy into action.
I'm not going to argue that this book is as fun to read as more inspirational titles, just as I wouldn't argue that it's as fun to watch Adam Dunn's boringly effective approach to offense as it is to watch Sam Fuld smash into walls in the outfield. But if you're asking who I'd rather have starting in left field next year... well, Dunn's defense is comically bad. But, yeah, I'd still go with Dunn. The fact is that you'd win more games with Dunn in the lineup and, in baseball as in business, winning is a lot more fun than scrappiness—much more productive than repeatedly reminding yourself that you just have to have the will or the ideas to win.
Give me metrics. Give me a system. Give me a way to set a strategy that takes into account all the elements of my organization for the long term. I don't want my team buying up free agents to shore up a shoddy team every year... and I don't want my company trying to boost short-term profits and manage the bottom line because there's no long-term strategy. Luckily, I live in Milwaukee and work for 800-CEO-READ, and I don't have to worry about either of those scenarios. But, if you do, The Balanced Scorecard can help.
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