MANAGEMENT is efficiency in climbing the ladder of success; LEADERSHIP determines whether the ladder is leaning against the right wall - Stephen Covey

Friday, September 23, 2005

Balanced Scorecard

When Robert Kaplan and David Norton published “The Balanced Scorecard: Measures that Drive Performance” in the Harvard Business Review in 1992, the idea of measuring business performance from financial and nonfinancial perspectives was novel. Their original balanced scorecard significantly advanced the notion that effective performance measurement must provide a view of both. Today, the balanced scorecard is one of the most widely used and hotly debated management tools in the executive arsenal. Countless permutations of the original Kaplan and Norton framework, in an equally varied multitude of applications, have been tried by all kinds of organizations. Although the original balanced scorecard concept was meant to assess the health of an entire business, the basic concept has been adapted to fit business units and support organizations. When it works, the scorecard is a powerful resource to help executives understand past and current performance, and plan for the future.
Do scorecards fail?
As is the case with any business tool, however, the scorecard is not a magic wand; its value depends heavily on how it is implemented and an incorrect / careless implementation could take the organization for a ROYAL RIDE!


Blogger Annie said...

Nice picture Sriram :-)

11:02 PM

Blogger Sriram said...

Hi Annie!

Thanx a bunch for all the help u rendered in posting my pic. Credit goes to u & Trevor indeed. I must say u got an awesome pic too...looking absolutely fun-filled & vivacious!

Keep ur comments flowing...

2:30 PM

Blogger Annie said...

Aw, you're welcome my friend. Trevor will take a look at your blog soon.

5:18 PM

Blogger Trevor Gay said...

You are so right Sriram.

Annie is everything you say and more - she is the light of my life and has made me the happiest man I know :-) Those of us who find love and are loved are indeed fortunate - I feel blessed.

Don't worry about lack of comments at this early stage of your Blog – rest assured they will come. I will publicise your Blog on Simplicity Blog. When I began my Blog in January I got no comments but it has gradually built up. Yours will be the same

Keep it simple.


6:48 PM


Post a Comment

<< Home

web site visitor counter
Office Depot Online