Summary

In many of the companies that have abolished traditional budgeting, the balanced scorecard has become a true cornerstone in the new management process, instead of a competitor to the traditional budget with the two often sending conflicting and confusing signals to bewildered managers. Leaving the budget in Statoil in 2005 resulted in a turbo-charging of our scorecard process, after having operated with budgets and scorecards in parallel since 1997. Now the organisation realised that we were serious about the scorecard, it was no longer just a new box on top of all the old ones.

Summary

"Peter Ferdinand Drucker, who left us in 2005, would have reached ten decades this year. Through his 39 books, countless articles, and literally thousands of speeches around the globe his legacy as the father of modern management thinking is well entrenched, and the penetrating questions he so humbly posed continue to challenge and inspire all of us working in the organizational world today. Covering the entire Drucker canon is well beyond the scope of a single article, so in these few pages I’d like to share with you some of my favorite Drucker questions and concepts, and challenge you to look deep within yourself and your organization in considering responses to queries I believe are as relevant today as they were when Peter tapped them out on his trusty Brother typewriter years ago."

Summary

No change initiative, regardless of the promise it holds, can succeed without the active support of senior executives. In this article, Paul explains the importance of executive sponsorship for your Balanced Scorecard implementation and outlines a number of proven principles for gaining active and ongoing support.

Summary

In this article, Paul illustrates why and how Balanced Scorecard as a management methodology assumes more significance in the light of the severe recession.  As a system that has proven remarkably in solving many a management challenge, BSC is versatile to come in handy in crisis situations as well.  With specific insights into dealing with the four balanced scorecard perspectives in difficult business conditions, Paul highlights how many of the standard indicators assume an elevated stature during a downturn.

Summary

This article deals with some of the key ingredients to a successful Balanced Scorecard implementation.

Highlights

• Putting in place the right team is vital for Balanced Scorecard success.
• Your Scorecard team should be composed of senior executives who possess a deep understanding of the system, and are committed to its success.

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.