Creating a Balanced Scorecard for a Financial Services Organization - Hardcover

Makhijani, Naresh; Creelman, James

Hardcover

ISBN 10: 0470830301 ISBN 13: 9780470830307

Publisher: Wiley, 2011

Synopsis

How to tap the power of the balanced scorecard, for financial services organizations

Designed to help financial services organizations build and implement the strategic management framework known as the balanced scorecard, Creating a Balanced Scorecard for a Financial Services Organization is the book you need to ensure accountability, transparency, and risk management in your enterprise. The financial crisis revealed the many shortcomings of the industry, but with this book in hand you can make the most of the mistakes of the past to build a better, stronger business that balances both short- and long-term goals.

Rich in the latest theoretical thinking and incorporating case studies that show the balanced scorecard system in action, the book covers both financial and non-financial performance perspectives in one comprehensive volume. Written by two leading practitioners with years of real-life experience, the book is the definitive step-by-step guide to implementing the balanced scorecard throughout your organization, aligning your whole business with your strategic goals.

• Includes everything you need to improve performance transparency, accountability, governance procedures, risk management, and more for financial services organizations of any kind
• Packed with expert advice and case studies that show the ideas presented in action
• Written by leading experts who have successfully implemented the balanced scorecard system in their own companies

Accessible and in-depth, Creating a Balanced Scorecard for a Financial Services Organization is the book you need to improve your business.

About this title

About the Author

Naresh Makhijani is an influential management consultantspecializing in strategy management, execution and alignedtechologies, based in Jakarta. He is coauthor of the booksBalanced Scorecard in Asia and Aligning People toStrategic Goals.

In 1995, Naresh was the first consultant in Asia to implementBalanced Scorecard with Management Cockpit following in 1999. Sincethen he has implemented over 100 Balanced Scorecards in over 20industries across 10 countries on three continents.

He has implemented Balanced Scorecard for over 18 organizationsin financial services in Asia including government ministries,deposit insurance agencies, development banks, private and statebanks, insurance companies, finance companies and stock clearingagencies.
He has been educated in Asia, Europe and USA.

James Creelman is a management author, educator andpractitioner specializing in the Balanced Scorecard and relatedEnterprise Performance Management disciplines. He had written 22books or reports including More with Less: Maximizing Value inthe Public Sector, which he coauthored with Bernard Marr; andMastering Business in Asia: Succeeding with the BalancedScorecard, which he coauthored with Naresh Makhijani.

James leads Balanced Scoredcard-related workshops and seminarsthroughout the world. He is presently working within the office ofstrategy management at the Ministry of Works, Bahrain.

From the Back Cover

This book on Balanced Scorecard provides numerous inputs andsolutions for the financial industry that considers the challengesof both corporate strategy and risk management: both of which areincreasingly important as financial organizations are pressured tocontend with the major change requirements sweeping through global,regional, and domestic markets. As well as quantative aspects suchculture and behavior, which will be major contributors toorganizational succcess.
Heru Budiargo
Chairman, Indonesian Deposit Insurance Corporation (LPS)

As competition heats up within the financial sector globally andas pressure rises on management to deliver sustainable results,successful strategy and risk implementation has become the mostimportant differentiator between the leaders and the rest. Thisbook contains many excellent examples of how financial servicescompaniesare getting it right! A must-read for all people involvedin strategy management within financial services.
Dr. Bharat K. Singh
Chairman, Services Business Review Council, Aditya BirlaGroup

Creelman and Makhijani's specific focus on applying to theBalanced Scorecard within the financial and banking industry isvery timely as the sector looks ways to successfully executestrategies that will help them recover from the experiences of thecredit crunch.
Dr. Jay Rajasekera
Professor of Management Systems and Strategy
Former Dean, IUJ Business School (Japan)

It is refreshing to see such a practical guide to implementingthe Balanced Scorecard in the context of today's market realitiesand business dynamics. Truly a plain language triumph!
Jeff Perkins
Vice President, Actuate Performance Management Group,Canada

As the competition increases the banks need to improve theirstrategy and its effective implementation. A very useful book forthe banks at the right time as it shows how the successful banksare implementing strategy.
S. Budi Rochadi
Deputy Governer, Bank indonesia

A must-read book for executives from the financial services andbanking industry if they wish to obtain clarity and alignment invision and strategy: build a highly effective executive team; focuson value drivers with optimal balance on strategic risk; andachieve a substacial superior high performance.
Neoh K.C.
Chairman and CEO, Catalyst Asia

As my organization experienced rapid growth, we required anexecutable strategy to achieve a new vision and mission whiledealing with the increased complexity and growth brings. Wesuccessfully used the Balanced Scorecard to deliver our goals:vision and mission were translated using Strategy Maps and linkedstrategy with operations. By using scorecard we also synergized theentire team to focus on delivering excellent results. This bookshows very well how the Balanced Scorecard has been successfullyapplied to financial services firms. A must-read!
Stanley Atmadja
CEO, Adira Finance, Indonesia

From the Inside Flap

As a consequence of the credit crunch, the financial servicesindustry, most notably banking, is undergoing tumultuous change--aperiod of transformation that is unprecedented in the sector'shistory and will likely not be experienced again for a lifetime, atleast. Responding to intense public, government, regulatory andshareholder pressure, the sector is reorganizing itself so thatperformance is more transparent and accountable, risk managementdisciplines are more robust and that sustainable long-termfinancial return is seen as being as important as short-termprofit.

This book by Naresh Makhijani and James Creelman describes howfinancial services organizations throughout Asia as well as otherregions are tackling these and other challenges through theimplementation of the Balanced Scorecard: the world's most popularstrategy management framework that balances financial withnon-financial performance and short-term requirements withlong-term objectives, among many other benefits.

Based on in-depth case study material, Creating a BalancedScorecard for a Financial Services Organization provides adetailed step-by-step practical template for Balanced Scorecarddesign and implementation, explaining how integrate risk managementwith strategy management through the Balanced Scorecard and how tolink operational and strategy management. The book also clearlyexplains how to build a suite scorecards from corporate throughbusiness unit, function and even individual employee levels and howto make strategy "everyone's everyday job."

The financial services sector is on a journey of extraordinarychange. Creating a Balanced Scorecard for a Financial ServicesOrganization provides a roadmap for charting a course throughwhat will be extraordinary times.

Edition details

• Publisher: Wiley
• Publication date: 2011
• Language: English
• ISBN 10: 0470830301
• ISBN 13: 9780470830307
• Binding: Hardcover
• Edition number: 1
• Number of pages: 224