Blog Archives

Measuring Management

There is no doubt that the organizations cannot be any more successful than their management. So, you would think we would have the management performance and forecasting down to a science. Yet, with a few notable exceptions, most of us cannot tell good management from bad one to save our

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Balanced Scorecard in non-profit/government ogranizations

Since the early 1990s, when Balanced Scorecard was first introduced to the world of business by Norton and Kaplan, the system has gained tremendous popularity among different organizations, companies, transnational corporations, midsize and small businesses, nonprofit and governmental organizations etc.  Sure, there is no universal way to implement Balanced Scorecard. 

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Learning and growth perspective of the Balanced Scorecard

In the Balanced Scorecard there is a separate “Learning and growth” perspective. Let’s take a closer look at the objectives that one can map inside, and the measures that one can use. As follows from its name and from the Balanced Scorecard paradigm, “Learning and Growths” perspective answers the question: How

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Balanced Scorecard: the four perspectives. Internal processes

Much has been said about most common mistakes managers make when implementing Balanced Scorecard. One of the most typical errors is that a company may be simply unready to use BSC or it lacks human resources who will be in charge BSC implementation. At the same time, even competent personnel

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What is a customer perspective of the Balanced Scorecard?

It has been proved that Balanced Scorecard works at best when measures in the all 4 perspectives are correctly set: financial, customer, internal processes, learning and growth. Each of the perspectives covers certain aspects of business functioning, both in the internal and external environment. According to own strategic goals, companies

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Balanced Scorecard: the four perspectives. Financial perspective

Introduction of Balanced Scorecard system in early 1990 was a response to business challenges of that time. The system was the first to add non financial indicators to a set of KPIs to be evaluated under performance management concept. Inclusion of non financial indicators did not mean that creators of

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Entrepreneurship class

Over the last few weeks I have been running an interesting experiment in one of my classes. I gave each student $5 and told them to go turn it in to more. The project is evaluated on these variables: Each variable is given a range of 1-5 with the extremes

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The case for learning startup management

Success rates for startup businesses are staggeringly low. Yet, everyday thousands of people around the world make the decision to engage in business or start a non-profit and believe that they will defy the odds. After all, one of the most effective ways to change our world, create value and

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Strengths and improvement opportunities for BSC framework

So, what are the strengths of this framework and where do we need to yet improve it? I have already alluded to a need for more than four dimensions. In fact, I propose eight. To make them easier to remember I named them all by starting with a letter M.

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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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