The Balanced Scorecard of Philips

Written by Adela Tudorache on February 4, 2021. Posted in Articles, Balanced Scorecard

Philips

A recent study suggests that more than half of the Fortune 1000 companies still use the Balanced Scorecard, after over 20 years since it was brought into existence by researchers David Kaplan and Robert Norton.

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The Balanced Scorecard: Outsmarting design and implementation traps

Written by Marcela Presecan on January 8, 2021. Posted in Articles, Balanced Scorecard

Strategy execution is not just a matter of owning adequate management tools and techniques, but also of making them work. Various organizations pride themselves on having implemented the Balanced Scorecard as their main tool for effective performance measurement and successful strategy implementation. However, is it enough to cite the use of a Balanced Scorecard in order to communicate a performance-oriented culture?

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The 585 Approach. 8 steps to developing an employee performance plan

Written by Marius Boghian on November 16, 2020. Posted in Articles, Strategy

Developed based on the US Office of Personnel Development Performance (OMP) methodology of turning organizations into performance driven work places, the 585 Approach relies on Key Actions to guide you through a simplified performance process. This consists of 8 steps taken to develop an individual plan and 5 performance principles designed to highlight when performance initiatives are needed.

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Benchmarking, a key strategy for the world’s leading PC manufacturer

Written by Andrada Ghețe on October 30, 2020. Posted in Articles, Strategy

The main reasons for implementing a benchmarking methodology in the IT industry is the companies’ need to identify key opportunities and ensure the transformation of knowledge into feasible actions and projects.

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Portfolio of Initiatives: Is it an important tool in performance management?

Written by Ramona Gligorea on October 27, 2020. Posted in Editorials, Organisational performance

In today’s business environment, strategic initiatives are becoming more and more complex. However, there are few organizations that have tools implemented to routinely monitor the initiatives’ performance.

What is the portfolio of initiatives? Briefly, it is a collection of projects the organization is implementing in order to fill an existing performance gap and achieve the desired state. The important part is to develop this tool based on the Balanced Scorecard of the organization. Thus, for each objective, initiatives have to be identified, to support their achievement.

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