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» Newsletter August 2008
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Paul R. Niven
Leading author and Management consultant
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Learning and Growth Perspective
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.
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| Spotlight |
| The Role of the CEO and the Senior Team |
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It is an acknowledged fact that the active support and involvement of the senior management team is the most important success factor in an Enterprise Performance Management or Balanced Scorecard initiative. |
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| The CEO and the senior team collectively own the strategy. When the CEO and senior team fail to own the initiative, the Balanced Scorecard becomes merely one more performance improvement tool among many. Only when this role is fulfilled can organizations expect to realize the potential of the Balanced Scorecard as a tool for organizational transformation and breakthrough performance. Then, the Balanced Scorecard becomes a true strategy management framework. |
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| News & Events |
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Global Performance Forum - Measures, Metrics and
Management Systems to Improve Organizational
Performance and Profitability
September 22nd - 24th
Location - Sao Paulo, Brazil
Strategy Mapping - A Balanced Scorecard Forum
September 29th - 30th
Location - San Diego, CA
CSR Performance 2008 - Planning, Measuring &
Demonstrating Performance and Sustainability in the
Corporate Responsibility Function
September 30th - October 2nd
Location - San Diego, CA
Balanced Scorecard, Strategy Maps and Strategic
Performance Management
October 23rd
Location - London, UK
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| Interview |
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Felix Kwok Wah Ng
Standards & Performance Manager,
MTR Corporation |
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This interview features Felix Kwok Wah Ng, Standards and Performance manager of the Hong Kong based MTR Corporation, which operates a railway network of 91 kilometers with 53 stations. With a daily patronage of over 2.4 million |
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passengers, the MTR railway system is one of the most intensively utilized in the world. In this interview, drawing from his experience of facilitating the Balanced Scorecard program in MTR, Felix Kwok presents a practitioner's viewpoint regarding various aspects of the Balanced Scorecard concept.
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| The selection of key performance indicators (KPIs) is on the minds of many companies these days. I have had consultants from the most prestigious strategy and management companies call me to ask what KPIs they should use for a particular industry. I always answer them, "the KEY performance indicator that you are looking for is dependant on the DOOR that you are going to open."
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| A source that provides an extensive library of Key Performance Indicators for perspectives and various industries |
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