Our Balanced Scorecard Heritage
Palladium was created to help organizations effectively and sustainably execute their strategies through the use of the Balanced Scorecard, Strategy-Focused Organization, and Strategy Management System frameworks created by Drs. Robert Kaplan and David Norton more than twenty years ago. Founded by Dr. David Norton, and originally called Renaissance Solutions and then Balanced Scorecard Collaborative, the firm’s role is to provide consulting, education, conferences, technology and research that not only helps clients to effectively implement Balanced Scorecard programs but also to provide leading edge research based methodology development on the subject of the Balanced Scorecard. This has resulted in over twenty years experience with thousands of companies and organizations across all major industries throughout the world.
The original Balanced Scorecard framework resulted in a major breakthrough in the way that organizations measured progress in executing strategy. The research was first published in the Kaplan/Norton Harvard Business Review articles, The Balanced Scorecard – Measures That Drive Performance (January-February 1992) and Putting the Balanced Scorecard to Work (September-October 1993), followed by the first in a series of books published by Harvard Business School Press entitled The Balanced Scorecard: Translating Strategy Into Action (1996). As Renaissance worked with increasing numbers of client organizations, it became apparent that the framework also provided an excellent methodology for clearly articulating strategy, a necessary prerequisite to measuring that strategy. Thus the concept of the Strategy Map was born. The Strategy Map, a one-page “Story” of an organization’s strategy quickly became a pivotal enabler for effective Balanced Scorecard development and led to the expansion of the concept to the Strategy-Focused organization.
In 1998, the firm was renamed Balanced Scorecard Collaborative in order to reposition itself as the “keeper of the flame” for the Balanced Scorecard and Strategy-Focused Organization framework and knowledge source. At this time, the Kaplan/Norton based Balanced Scorecard conference, training, and online education programs were launched in order to create a multi-media set of opportunities for organizations and individuals to learn about and become proficient in the Balanced Scorecard framework. In addition, the Executive Strategy Manager (ESM) web-based tool was launched to provide project management and reporting support for all organizations utilizing the Balanced Scorecard framework. During this period, an article entitled Having Trouble With Your Strategy? Then Map It (September-October 2000) was published which focused specifically on the subject of Balanced Scorecard based Strategy Maps. Drs. Kaplan and Norton next published the book, The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment (2001). Several years later, this was followed by Strategy Maps: Converting Intangible Assets Into Tangible Outcomes (2004).
As BSCol continued to partner with organizations in the development and enhancement of Strategy-Focused Organizations and Strategy Management Systems, the importance of organizational alignment became ever more apparent. The result was the publication of the HBR article Measuring the Strategic Readiness of Intangible Assets (January-February 2004) and the book Alignment: Using the Balanced Scorecard to Create Corporate Synergies (2006), both articulating the powerful message that the Balanced Scorecard framework provides value well beyond strategy and measurement development at the enterprise level. They focused on the Balanced Scorecard framework as a powerful alignment system for organizational divisions, teams, and individuals as well as outside constituents such as Boards, governments and other stakeholders.
During the past two decades, the Balanced Scorecard, Strategy Map, Strategy-Focused Organization, and Strategy Management System frameworks have become globally accepted as one of the most powerful yet practical management tool sets ever developed. In order to effectively support this worldwide market, in 2005 Palladium was born. Palladium brings the Balanced Scorecard, Strategy Map, Strategy-Focused Organization and Strategy Management System concepts to organizations across the globe and has expanded the use of the original Kaplan/Norton based Balanced Scorecard concept still further, while always remaining true to the core framework. As a result, Palladium has become the worldwide expert in Strategy Execution. To capture these findings, the book The Execution Premium: Linking Strategy with Operations for Competitive Advantage (2008) was published, along with a series of related articles, representing the synthesis of two decades of learning in the field of effective Strategy Execution.