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The Balanced Scorecard concept was introduced to the private sector in 1992, as means of measuring organizational performance. To maximize clarity and utility, Robert Kaplan and David Norton proposed using four perspectives: Financial, Customer, Internal Processes and Learning and Growth.
A Strategy Map provides a visual representation of the organization’s strategy. It is a powerful communication tool that enables employees to understand the company’s strategy and translate it into actions they can take, to ensure the achievement of strategic objectives.
A metric refers to something we can measure. It has its roots in the word “metron”, used in ancient Greece to reflect measurement. For instance, air pollution, air temperature, water depth, people’s height or weight are all metrics.
Engage. Stimulate. Train. Reward. Energize. These five key words represent some valuable drivers that, if correctly and constantly implemented, can help you build a performance culture and, eventually, a productive and positive working environment.
Initiatives management is not an easy step in the performance improvement process. It implies a proper tracking of the initiatives taken, which is usually a challenge for most organizations. Initiating projects may turn out to be easier than managing them afterwards, when the issues of time, money and talent available interfere in the process. If we add resources problems and poor project monitoring to other problems, then the future of the initiative is not hard to guess.
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