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The balanced scorecard : measures that drive performance

17 Apr 2015-
TL;DR: A "balanced scorecard" is developed, a new performance measurement system that gives top managers a fast but comprehensive view of the business and complements those financial measures with three sets of operational measures having to do with customer satisfaction, internal processes, and the organization's ability to learn and improve.
Abstract: Frustrated by the inadequacies of traditional performance measurement systems, some managers have abandoned financial measures like return on equity and earnings per share. "Make operational improvements and the numbers will follow," the argument goes. But managers do not want to choose between financial and operational measures. Executives want a balanced presentation of measures that allow them to view the company from several perspectives simultaneously. During a year-long research project with 12 companies at the leading edge of performance measurement, the authors developed a "balanced scorecard," a new performance measurement system that gives top managers a fast but comprehensive view of the business. The balanced scorecard includes financial measures that tell the results of actions already taken. And it complements those financial measures with three sets of operational measures having to do with customer satisfaction, internal processes, and the organization's ability to learn and improve--the activities that drive future financial performance. Managers can create a balanced scorecard by translating their company's strategy and mission statements into specific goals and measures. To create the part of the scorecard that focuses on the customer perspective, for example, executives at Electronic Circuits Inc. established general goals for customer performance: get standard products to market sooner, improve customers' time-to-market, become customers' supplier of choice through partnerships, and develop innovative products tailored to customer needs. Managers translated these elements of strategy into four specific goals and identified a measure for each.

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Journal ArticleDOI
TL;DR: In this paper , an improved definition and framework for CE of XL to XS regions (scales from planetary to neighborhoods) is proposed, which aims to better inform decision-makers on trade-offs between vital processes to minimize unintended problem shifting.
Abstract: The burgeon concept of Circular Economy (CE) has fundamental issues hindering clarity and comprehensive assessments. This paper uses established ontological criteria to review and improve the CE definition and (assessment) frameworks. The review reveals that mainstream CE definitions and assessments are fuzzy, shift problems, oversimplified and not synchronized. This causes many loopholes that not lead towards sustainability. Therefore, an improved definition and framework is proposed, specifically for CE of XL to XS regions (scales from planetary to neighborhoods). A CE should strive towards self-sufficiency on each scale to avoid problems shifting to other regions or future society. The framework elaborates on a comprehensive systems-approach, which connects the triple bottom line across nine ecosystem processes, eight societal processes, and six economic production processes. The proposed definition and framework are demonstrated in an assessment of regional pressures and their impacts of Australia with 2020 data. The framework aims to better inform decision-makers on trade-offs between vital processes to minimize unintended problem shifting. The definition and framework have improved universal application for meaningful comparisons and optimization towards a sustainable CE in any region.

1 citations

Journal Article
TL;DR: In this article, the authors analyze the current state of affairs in the field of assessing multilaterals and argue that while donors are increasing their efforts in measuring the performance of multilateral organizations, the use of this information often remains insufficient.
Abstract: There has been an increase in the attention paid to the measurement of the performance of development aid and of aid agencies. While the monitoring and evaluation of aid delivered by bilateral agencies has been a well-established practice for quite some time, the measurement of the performance of Multilateral Organizations (MOs) by bilateral back-donors, and the use of this information in improved bilateral policies towards these same MOs is more recent. But of late there has been a mushrooming of bilateral initiatives that try to assess MO performance. Currently bilateral donors seem to be moving toward a more harmonized approach through the introduction of assessments that are organized by networks of donors. How the information from these assessments is being used in policy-making, however, is far from clear. This paper analyzes the current state of affairs in the field of assessing multilaterals. It feeds into the debate on how bilateral donors should effectively and efficiently manage the performance of the MOs they fund. The analysis of three country cases (Belgium, the Netherlands and the United Kingdom) reveals significant differences in the performance management of multilaterals by bilaterals. The paper examines these differences in the light of the literature on performance measurement. It argues that while donors are increasing their efforts in measuring the performance of multilaterals, the use of this information often remains insufficient. The good example set by the UK is closely linked to administrative and political features of this country and difficult to just duplicate by other countries. The field of managing the performance of MOs remains scattered, unsystematic, and above all, challenging.

1 citations


Cites methods from "The balanced scorecard : measures t..."

  • ...An important difference is the use of a Balanced Scorecard (BSC)[5], a widely used tool in performance management (Fryer et al., 2009; Ramalingam et al., 2009) which was introduced in the early nineties by Kaplan and Norton (1992)....

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Proceedings ArticleDOI
12 Sep 2019
TL;DR: The balanced scorecard enables a comprehensive and integrated management of corporate data Protection and embodies a holistic approach including four perspectives, nine goals and fifteen key performance indicators for corporate data protection.
Abstract: Data protection is one of the major challenges of the digital transformation. From a company's point of view, the compliance of data protection is indispensable, effort consuming and cost intense. While these efforts and costs cannot be avoided in total, the efficiency of data protection can be optimized by minimizing its costs. For this purpose, this paper presents and evaluates a balanced scorecard. It embodies a holistic approach including four perspectives, nine goals and fifteen key performance indicators for corporate data protection. The balanced scorecard enables a comprehensive and integrated management of corporate data protection.

1 citations

Dissertation
01 Jan 2017
TL;DR: In this paper, the authors present a Table of Table of contents of a table of tables: https://www.tableoffeatures.com/table-of-features.html
Abstract: .................................................................... i Table of

1 citations


Cites methods from "The balanced scorecard : measures t..."

  • ...The BSC is a tool for managing financial and nonfinancial elements, process and result, short-term and long-term, and inside and outside of the organization (Kaplan & Norton, 1992)....

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Journal ArticleDOI
30 Apr 2019
TL;DR: In this article, a comparative assessment of public objectives of federal executive authorities, regional administrations, development institutions and major domestic companies in Russia is presented, showing that the federal government's objectives are more modernization-and long-term-oriented but less measurable than corporate ones.
Abstract: The paper deals with the key features of declared goals’ setting by economic agents in Russia. It is aimed at designation an approach to making a comparative assessment of public objectives of federal executive authorities, regional administrations, development institutions and major domestic companies. The authors established a set and values of goal-setting’s quality criteria for multicriteria goal analysis. It was identified that federal government’s objectives are more modernization- and long-term-oriented but less measurable than corporate ones. It is also found out that the federal state programs demonstrate logical inconsistency between goals, key performance indicators and expected outcomes. The results suggest that an approach to goal-setting in Russia is non-system-based and nonfunctional at all levels of management. These findings will be of interest to experts and scholars for improving corporate and government strategic documents’ creation.

1 citations