Performance management is undergoing huge overhauls, given that what businesses define as success shifts seemingly every year. A study by Psycnet reported that performance management improves only 28% of staff and is overall a sunk cost.
The customer perspective within the Balanced Scorecard – BSC for short, enables organizations to target the market segments in which they have chosen to succeed. Correctly pinpointing the right market segment an organization wants to address helps the same organization develop strategies that maximize outcomes, and, ultimately, financial rewards.
In the past, the customer perspective was not a focal point of the Balanced Scorecard, as companies believed product performance and technology innovation to be the backbones of business success. Nevertheless, customer behavioral trends have gradually emphasized the necessity for understanding what customers need.
We all have our own share of daily tasks to keep track of and the greater the task, the greater the responsibility. So if you are a company, more precisely a corporation, how do you quantify and measure responsibility? How do you know if you are performing well, from a social sustainability viewpoint?
As the society is becoming more mobile, international and diverse, businesses face an emerging need for proper cross-cultural management that enables them to handle relationships between employees.
When it comes to finance and business management, few people within the TKI family can boast a more impressive path to professionalism than our Head of Research, Marcela Presecan.