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            Balanced Scorecards and Dashboards - Lean - Six Sigma - Project Management

                                     Authors:     "Balanced Scorecard Strategy for Dummies" (Wiley 2007)

                                    Contributing Author: "Business Efficiency for Dummies" (Wiley, 2013)

247 VZ County Road 4929   |  Ben Wheeler, Texas  75754   |   Phone: 903-574-4878

PSI Associates is a leader in providing continual improvement knowledge,  principles and methods to its clients.  We help our clients assess and identify their opportunities for improvement, developing balanced and integrated strategies and tactics to achieve the gains that generate significant Return on Investment by targeting all areas of their organization. 

We don't push pre-packaged approaches.  We focus on your particular needs and help you develop your principles, strategies, tactics, methods and processes that achieve lasting results.  

"As to methods there may be a million and then some, but principles are few.  The man who grasps principles can successfully select his own methods. The man who tries methods, ignoring principles, is sure to have trouble." - Ralph Waldo Emerson


“Many people still believe the BSC is just a measurement technique.  Our readers well know, however, that the term ‘Balanced  Scorecard’ means far more; it is a full-fledged performance management system.  Even the latest primer on the BSC, Balanced Scorecard Strategy for Dummies (Co-authored by PSI Associates CEO and Founder, Charles Hannabarger), recognizes that, while measurement is a key aspect of the BSC, the system is really ‘a means to setting and achieving the strategic goals and objectives for your organization.’”  - David P. Norton (Balanced Scorecard Creator) 






         •  Your strategies, plans, goals and metrics are defined and missed

           •  You are not getting what you need from your processes

           •  It feels like your people and processes are pulling in different directions

           •  You have "been there, done that" with past improvement efforts that just haven't delivered 


PSI Associates can help solve these problems and get you on a path to achieve and exceed your goals.  Based on time-tested Principles that Work, we Think Strategically and Act Tactically so that you and your company will succeed.  Our expertise includes . . . 




PSI Associates - Balanced Management Systems works with its clients based upon Principles that are tried and true.  There are no 'One-Size-Fits-All' solutions when you partner with PSI.   Our focus is firmly grounded in your business issues to produce tangible, bottom line outcomes.   We use the context of your business to help you develop the principles, strategies, behaviors, methods and processes necessary for your success in today's market driven climate.  The goal is to get you implementing and improving, not just planning and measuring. 


Firmly grounded in the Company's Vision, Mission and Guiding Principles, the Aim of the Sytem must link from the Strategic to the Operational and Tactical Levels, and across the Legs of your Balanced Scorecards and Dashboards.  Lean, Six Sigma, Reenbineering, Total Quality Management are all are means to achieve the Aim of the System.


Learn:  Conduct SWOT Analysis, Competitive / Best-in-Class Benchmarking, and Assess your business systems and processes.  Determine where you need to be in five to ten years and by what means: the Principles, Methods, Systems, and Resurces you will need 

Adapt:  Adapt the lessons learned.  Don't follow the steps outlined in a case study or blindly do what the XYZ Company did!  Analyze your situation and Adapt to fit your particular situation.

Apply: With the knowledge you have gained and your understanding of how to Adapt them to your needs, Apply them  to your Balanced Business Approach,

Improve: Continually Learn, Adapt, Apply and review / analyze your performance to get the results you need.

PSI specializes in assessment, training, development, and coaching services that are tailored to the needs of your business, your challenges, and your people.




Find out more About Us, then look at our Services to make your possibilities a reality.


Balanced Scorecard Strategy for Dummies 


Chuck Hannabarger, Frederick Buchman, Peter Economy 

                                                                                                                   Languages: English, German and Dutch

                                                                                                                                                Amazon Bestsellers Rank: #15,436 in Books

                                                                                                                                                                                                  #2 in Productivity

                                                                                                                                                                                                #41 in Decision-Making & Problem Solving

                                                                                                                                                                                                #46 in Systems & Planning


David P. Norton  - Balanced Scorecard Creator - Comments on Our Book

 “Many people still believe the BSC is just a measurement technique.  Our readers well know, however, that the term ‘Balanced  Scorecard’ means far more; it is a full-fledged performance management system.  Even the latest primer on the BSC, Balanced Scorecard Strategy for Dummies, recognizes that, while measurement is a key aspect of the BSC, the system is really ‘a means to setting and achieving the strategic goals and objectives for your organization.’”  

David P. Norton      “ON BALANCE: What Is Your Strategy Management Philosophy?”  Balanced Scorecard Report: The Strategy Execution Source, November – December 2008  |  Volume 10, Number 6, Harvard Business Publishing and Palladium Group, Inc.


We Ranked #5 on Channel Insider's Poll of 21 Must Read Books for Business Success!

Channel Insider's 21 Must-Read Books for Business Success

By Kathleen A. Martin on 2009-05-15
We learn from the experiences and wisdom of others. Channel Insider asked successful solution providers what books have both inspired them and have shaped their approach to making their businesses a success.
Here is Channel Insider’s recommended reading list, straight from the source—the Channel Insider community.
1.  In Search of Excellence  Thomas Peters & Robert Waterman Jr.
This classic tome explores the management and business practices of successful organizations. Written in the 1980s, its business lessons are applicable today as they were then.
2.  Getting Things Done: The Art of Stress-Free Productivity  David Allen
Allen shares with readers the key to getting things done? Relaxation. If you've tried other time management strategies and still are in chaos, take a minute—and a breath—to check this out.
3.  Power of Process: Unleashing the Source of Competitive Advantage  Kiran K. Garimella
Reading as both fiction and a business guide, the author shares his arguments for the new mindset and corporate culture needed to bring true change and a differentiated competitive advantage.
4.  How to Castrate a Bull  David Hitz
Written by the founder of NetApp, this book traces the difficulties, challenges and lessons learned in starting a business and growing it into a multi-billion-dollar enterprise
5.  Balanced Scorecard Strategy for Dummies     Charles Hannabarger, Frederick Buchman, Peter Economy
Easy to use checklist and equations highlight the four critical areas in your business to balance.   While the format is simple, there is nothing dumb about the results.
6.  Good to Great    Jim Collins
A study in the differences between good companies and those that are truly great. Collins takes a different approach to understanding the success factors, providing valuable business lessons.
7.  Blue Ocean Strategy  W. Chan Kim and Renee Mauborgne
Drawing upon a study of 150 strategic moves spanning more than 100 years and 30 industries, the authors explain how "value innovation" renders rivals obsolete and creates new demand.
8.  How to Win Friends and Influence People  Dale Carnegie
A must have on the classic business persons bookshelf with more than 15 million copies sold. This is a how to guide for anyone looking to build social contacts, expanding their network and create better presentations.
9.  The Big Switch  Nicholas Carr
If you want to understand cloud computing in real-world terms, The Big Switch is a must-read. It compares the build out of cloud computing to the nascent 19th century electric grid. It’s a compelling read.
10.  The Innovators Dilemma/Innovators Solution  Clayton Christensen
Wonder why your disruption technology missed while your competition created the next great wave? Christensen shares the keys to avoiding the same fate other companies have when technology is not the answer.
11.  Tipping Point/Blink/Outliers  Malcom Gladwell
A series of books that focus on natural instincts and critical success factors for business. Paying attention to the little (and later larger) market indicators and how to identify that next great thing.
12.  The Long Tail  Chris Anderson
Detractors have risen to debunk the concept of the long tail, but Anderson remains correct that the Internet has created a phenomenon of building a product once and selling it many times over.
13.  Crossing the Chasm  Geoffrey Moore
You simply cannot be in business and not read this book. Moore outlines the technology buying process and how to go to market with new technologies and how to leverage vertical communities.
14.  E-Myth  Michael E. Gerber
This is the book to read before you start a business. If you are already in the process of running your own business this is a must read. It explodes the myths surrounding business creation and shows how common assumptions, expectations and even technical expertise hamper success.
15.  7 Habits of Highly Effective People  Stephen Covey
Paying attention to basic principles, Covey explores how to balance and succeed in both your personal and professional life through seven personal development steps.
16.  The Daily Drucker  Peter Drucker
Economist Peter Drucker defined the principles of effective business management for several generations of corporate leadership. The Daily Drucker is more than 300 tips and lessons for coping with business challenges and opportunities.
17.  Groundswell  Charlene Li & Josh Bernoff
Who doesn’t want to catch the social networking wave? How many actually understand what social networking means and how to leverage it? Groundswell goes a long way toward understanding the social networking phenomenon and ways to tap into it.
18.  Execution  Larry Bossidy
Written from the viewpoint that execution (that is, linking a company's people, strategy, and operations) is what will determine success in today's business world this book details the steps to delivering results from the mailroom to the CEOs office.
19.  Go Giver  Bob Burg and John David Mann
This fictional tale of one man’s journey into the business world and the lessons he learns from experienced businessmen is inspiring for its most simple lesson: give and you will receive.
20.  Quiet Strength  Tony Dungy
Winning a Super Bowl takes both a mastery of the game and extreme management skills. Coach Dungy walks through what it takes to manage multiple personalities, adverse constituencies and challenging conditions. He shows you can succeed without compromising convictions.
21.  The Art of War  Sun Tzu
Written more than 2,500 years ago by a master military strategist, the Art of War is often referred to as the best treatise on business ever written because many of the military tactics are equally applicable to business. This book must be on every manager’s bookshelf. 

ASQ's Quality Progress Magazine Reviews Our Book
“The authors offer—in basic terms and an easily consumed format—a wealth of examples, checklists and tips for implementing a balanced scorecard approach.  The authors provide guidance to create a strategy map that links tactical goals to strategic goals via the four legs of a balanced scorecard: financial; customer; internal process; and knowledge, education and growth.
The authors provide tools to help the reader understand the role of the four legs and supply the tools to build that role further.  It is a pretty simple formula, and it works.  For example, the sections on knowledge, education and growth outline how to perform a skills inventory, use it in a gap analysis and translate that analysis into a set of actionable measures that tie into the overall scorecard.
Moving beyond simple measures of the bottom line is still a pretty bold idea.  But after reading Balanced Scorecard Strategy for Dummies, it’s clear that measures are for more than the finance guys.  With a little thought, scorekeeping applies to us all."

Reviewed by Tim Knight
Evergreen Park, NY

Quality Progress  /  2008 March




Ask the Expert!

For free email business advice, send your questions, comments or ideas to Charles.Hannabarger@PSIAssociates.com.    For issues that are of particular interest to the community, we may publish your questions along with our answers in our Newsletter.

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The Balanced Scorecard and Dashboard Group is for practitioners and managers who want to learn about BSC&D, share knowledge, experiences and ideas surrounding the planning and use of strategy maps, balanced scorecards and dashboards.




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WSJ.com: US Business
US Business
UniCredit CEO Quits Amid Feud - Alessandro Profumo, who built Italian bank UniCredit into a global financial giant, stepped down as CEO amid a feud with the board and growing nervousness over Libya's involvement in Italian finance. Troubled Vietnam Flagship Makes Waves - The near-collapse of one of Vietnam's flagship state-owned companies is exposing the limits of this country's economic renaissance. Inditex's First-Half Profit Soars - Inditex, the world's largest clothing retailer, said first-half net profit jumped 68%, boosted by higher sales, richer profit margins and store openings outside of Spain.
Novartis MS Drug Wins Approval - The Food and Drug Administration approved for sale the U.S. market's first oral drug to treat multiple sclerosis, in another sign of the improving picture for MS treatment.  General Mills Net Rises 12% - General Mills reported a rise in profit and slightly stronger sales, though steep promotions and discounts on cereal continue to weigh on the sector. Israeli R&D Meets Chinese Manufacturing - An Israeli private-equity firm, Infinity Group, is hoping to profit by melding Israel's R&D skills with China's manufacturing prowess.
Sears Joins With Forever 21 - Sears, saddled with extra space in its cavernous Sears department stores, is joining with hot fashion chain Forever 21 to expand the store-within-a-store concept.  New York Times Expects 3rd-Quarter Loss - The New York Times Co. expects to post a loss from continuing operations in the third quarter on a revenue decline of about 2% to 3%. CarMax Posts Profit - Used-vehicle seller CarMax said its profit rose 4.8% despite 2009 gains on increased sales and prices.
Default Rate Nears '08 Level - Corporate debt-default rates are expected to fall below 3% by the end of the year, a stunning drop from the 14.6% peak of November 2009 and marking a swift turnaround for most troubled U.S. companies. AIG Nears Sale of Japanese Units - Prudential Financial is nearing a deal to buy two Japanese life-insurance companies from American International Group, for a combined $4 billion to $5 billion. China Asks Travel Agents Not to Promote Japan - China's tourism authorities have asked local travel agencies not to promote travel to Japan amid an increasingly tense territorial dispute between the two countries.
U.K. Plans Review Of Mergers, Pay - U.K. Business Secretary Vince Cable plans to announce a review of takeovers, executive pay and other areas that can lead to "corporate short-term-ism," in what could further loosen Britain's once-strict adherence to the idea of open markets.  Imperial Tobacco Reiterates Outlook - Imperial Tobacco said its performance remains in line with the board's expectations, as price increases in some European countries offset weak volumes.  Blockbuster Nears Bankruptcy - Blockbuster is in the final stages of preparing a bankruptcy filing, marking a milestone in consumers' shift away from video stores to films delivered by mail and the Internet.




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