Summary

When it comes to advice about choosing Balanced Scorecard software , most writers and practitioners tend to focus their examination on an organization’s perceived technical requirements, spending pages outlining what the prudent investor should look for in the way of analytics, compatibility with other systems, drill-down capabilities, and dozens of other intricate considerations. No one will dispute the importance of a robust technical environment, and, in fact many software vendors rely almost exclusively on their product’s technological functionality to win over new clients. But is a technologically advanced solution really what you need from a Scorecard software solution?

Summary

This article has been adapted from a management report based on an extensive research on gaining maximum value from HR shared services. The report reveals the key to developing the full potential of HR shared services in the context of the changing role of HR and the drive for greater corporate effectiveness.

James Creelman observes that organizations looking to launch, or expand, shared services in 2009 face an interesting conflict that will be a challenge to resolve.

Summary 

In this article, author, management consultant and Balanced Scorecard expert Paul Niven sounds a strong note of caution against overloading Balanced Scorecards with Key Performance Indicators (KPIs) and Strategic Objectives.

Once early adopters of the Balanced Scorecard started seeing results, organizations were convinced that more objectives and measures would make performance management even more effective. This led to overcrowded Strategy Maps and Balanced Scorecard Maps that failed to offer a coherent picture of strategy and strategy execution.

Summary 

In this article, the author examines the need for finding common ground between strategy management and operations management. While strategy management seeks to make strategy relevant to employee’s day-to-day responsibilities, operations management seeks strategic context for implementation and improvement projects. The author presents a performance management framework that describes the common ground.

The author points out that the lack of connect between strategic performance and operational performance leads to issues such as lack of alignment, misallocation of resources, short-term focus, and a failure to perceive risk, among other things.

Summary

In this article, Bjarte Bogsnes – member of the EPM Review Editorial Board and a leading practitioner-thinker of the Beyond Budgeting philosophy – first scrutinizes the five myths most commonly held about ‘Beyond Budgeting’ and then proceeds to throw light on what the approach actually means for enterprise performance management.

As a concept, Beyond Budgeting has its roots and origins well back in time. However, as a management model, it is just a decade old. Consequently, the concept has not reached a stage where clear and consistent understanding can be safely expected. In fact, a number of myths and misunderstandings have developed about Beyond Budgeting.

Summary 

In this entertaining article, author, management consultant and Balanced Scorecard expert Paul Niven takes a closer look at movie making to borrow lessons for making management meetings better.

Ultimately, movies are all about stories and how they progress, scene by scene. While volumes have been written on creating winning scenes, expert screenwriters have found a way to keep it very simple…and very effective.

Summary 

In this article – the last of a four part series – author, management consultant and Balanced Scorecard expert Paul Niven discusses the need for a Learning and Growth Perspective in a Balanced Scorecard. The other three parts focus on the Financial, Customer and Internal Process perspectives.

The author begins by focusing on the need for a Learning and Growth Perspective. Organizations that seek to create a culture of performance management typically wish to create flawless processes, fulfill customer expectations, and create value for financial stakeholders. To achieve these goals, organizations need a strong foundation. People, the author argues, provide this foundation. The knowledge and talents of people are the intangibles that account for upward of 80 per cent of value creation in modern organizations. In the ultimate analysis, committed and capable people dictate the success or failure of an organization.

Summary

In this article – the third of a four part series – author, management consultant and Balanced Scorecard expert Paul Niven discusses the need for an Internal Process Perspective in a Balanced Scorecard. The other three parts focus on the Financial, Customer and Learning and Growth perspectives.

The author begins by pointing out that, with the Internal Process perspective, the focus of performance management shifts from the “what” of value creation to the “how” of value creation. Specifically, the Internal Process perspective describes how an organization will achieve outcomes envisioned in the Customer and Financial perspectives.