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Measurment-Based Management History

Balanced scorecard system, no matter how much revolutionary it can be, is not an entirely new concept.  As known, balanced scorecard is used to measure business performance through evaluation of key performance indicators which help company management set realistic strategic goals and work out methods to achieve them. Until the

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Measurement Inversion

A while ago, Doug Hubbard has introduced me to the concept of measurement inversion. According to him the more something matters the less we tend to measure it and the less we know about it. Things that really matter are often highly imprecise and thus there is a great opportunity

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The most painful measure

Balanced Scorecard in the traditional execution allows us to measure the most crucial but also the most painful variable. This variable is management team’s development:  learning and growth. After all, given enough time, the right management with the right skill sets can fix anything, or even build the whole organizations

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Taking the Balanced Scorecard on to the next level

What are the strengths of the Balanced Scorecard framework and where do we need to yet improve it? I have already in other articles alluded to a need for more than four dimensions. More than four views or voices to truly have a comprehensive view of business. In fact, later

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Business as a precise science

In many fields of discipline the world has experienced a transition from a period where the knowledge appeared to be magic and practitioners were regarded more as wise shamans than doctors. Chemistry has largely grown out of the Alchemy. Slowly but surely in the various aspects of human life we

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Why should we focus beyond financials?

When I ask my MBA students about the purpose of corporations, the typical answer that I hear is that it is to make a profit, to make money.  But if they are right, why should we focus on managing a company by any non-financial metric? After all,  the company either

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What is Balanced Scorecard concept: the four perspectives

The four perspectives of balanced scorecard concept are described

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