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on 22-Apr-10 03:38.
Among the top concerns of executive leaders today is effective and efficient strategy execution.
Global Strategic Management Institute (GSMI) hosted their Second Annual Mission Driven Performance Summit in Washington DC, along with Ascendant Strategy Management Group to address just that. The Summit brought not-for-profit and government leaders together to discuss the Balanced Scorecard method and how it can be used to ameliorate challenges within the public and social sector.
The summit was led by Harvard Business School Professor Robert Kaplan and Balanced Scorecard co-creator David Norton and included participants from the Federal Bureau of Investigation, the Securities and Exchange Commission, the U.S. Army, the U.S. Department of Education, Project Management Institute, Rare, and the Catholic Charities Archdiocese of Boston.
March 12, 2010, San Diego, after the remarkable success of its first Mission-Driven Summit, Global Strategic Management Institute (GSMI), in partnership with Ascendant Strategy Management Group, hosted its second annual performance management event for government agencies and non-profit organizations, the Mission Driven Performance Summit, in Washington, DC on March 2-4, 2010.
on 22-Apr-10 03:32.
January 27, 2010, San Diego, After the remarkable success of its first Mission-Driven Summit, Global Strategic Management Institute (GSMI), in partnership with Ascendant Strategy Management Group, is proud to announce that it will be hosting its second annual performance management event for government agencies and non-profit organizations, the Mission-Driven Performance Management Summit, in Washington, DC on March 2-4, 2010.
This event will feature keynote sessions presented by Balanced Scorecard co-creators and management thought leaders Dr. Robert Kaplan and Dr. David Norton. As an event specifically designed for government agencies and not-for-profit organizations, the Mission-Driven Performance Summit features case studies and thought-provoking sessions that will give you the insight to:
Prove your impact in a time of increasing accountability requirements
Implement your strategy while managing your risk
Do “more with less” by improving your organization’s management
Effectively partner with partners, customers, and affiliated organizations
Align your management system with your measurement system
on 22-Apr-10 02:49.
HOW TO BUILD A BALANCED SCORECARD
by Arthur M. Schneiderman
The balanced scorecard (BSC) has undergone significant change since its widespread popularization in the early 1990s. Although the first balanced scorecard was an integral part of its creators' strategic planning process, its subsequent emulations focused on it as a simple instrument rather than as one element of a total planning system. Consequently, most early adopters just took their myriad of existing non-financial performance measures and force-fitted them to an arbitrary framework that classified scorecard metrics into the prescribed categories of financial, customer, internal, and learning and growth.
I've chronicled elsewhere the resulting common failure modes. Number one on that list was:
"The independent (i.e. non-financial) variables on the scorecard are incorrectly identified as the primary drivers of future stakeholder satisfaction."
Unfortunately this fundamental misapplication of the BSC concept is still all too prevalent.
However, academics, consultants, and practitioners alike have learned much over the last dec
on 22-Apr-10 02:47.
Juggling Balanced Scorecard Metrics©
by Arthur M. Schneiderman
Back in 1988, I was shown a monthly metrics report by the VP of Quality Assurance from a large mid-West US bank. The report (more than 50 pages long, as I remember) contained nine graphs per page and the pages were beautifully bound into a glossy, full-color publication. She was really proud of this output from her department. I'm sure that everything that could be measured was. It reminded me of the old army directive: "If it moves, measure it; if it doesn't, paint it." Flipping through the many pages, one thing stood out clearly to me: virtually all the graphs were flat. The data scattered randomly around a horizontal line drawn at their precise mean. For each of the graphs, there was a horizontal line located at a target value. The resulting gap between current performance and this target remained essentially constant.
The report left me with three messages: TQM was not being practiced by the people being measured, the goal setters didn't recognize the importance of establishing specific milestone dates for their goals, and the bank's management did not understand the concept of organizational capacity and the consequent importance of focusing on the "vital few."
on 22-Apr-10 02:46.
Must Your Scorecard be Balanced?
by Arthur M. Schneiderman
An edited version of this article appears in strategy+business
Conventional wisdom1 mandates that a scorecard contain a balance of:
financial and non-financial,
lagging (results or retrospective) and leading (process or predictive),
externally (customer) and internally (processes) focused, and
short-term and long-term metrics.
It also demands representation within a prescriptive framework; most often financial, customer, internal, and learning and growth.
But is this really necessary? Let's first look at the origins of the "balanced" part of the scorecard.
The balanced scorecard resulted from the confluence of three streams of late 1980's management thinking:
• Total Quality Management (TQM) practitioners were discovering that non-financial measures were much more useful in the day-to-day management of their organizations ("you get what you measure") and were struggling with determining the vital view metrics that they should use in steering their organization's limited resources.
• Accountants where loosing both the eyes and ears of management to the new non-financial measures2 and were failing in their effort to regain their past prominence by reengineering traditional product cost systems3 (Activity Based Costing) in light of the compelling criticism by both internal and external advocates of the Theory of Constraints (TOC).
• IT professionals were desperately seeking non-transactional IT applications to expand their internal market from operations to management in the hope that that would forestall their eventual relegation to a part of those operations.
The first balanced scorecard was created in 1987 to address the first of these issues. Although it was "balanced" in the current sense, its inclusion of financial measures was for pragmatic not conceptual reasons (see "How the Scorecard Became Balanced"). Three years later it was discovered by a collaborating accounting professor and IT consultant, who recognized that it also provided a solution to both of their professions' most pressing challanges.
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